Urban Outfitters Manchester Arndale

Manchester Urban Outfitters sold for £18.6m

Aberdeen Asset Management has sold the 20,000 sq ft flagship Urban Outfitters store on Manchester’s Market Street for £18.6m.

The unit at 41-43 Market Street on the edge of the Arndale shopping centre was bought by a private family.

The property is let for a further eight-and-a-half years at £765,000 a year.

Tim Sankey, fund manager at Aberdeen Asset Management, said: “Whilst the store is a strong asset the level of interest was just too attractive for us to ignore. It was really pleasing to capitalise on the team’s excellent asset management.”

KLM Retail acted for Aberdeen Asset Management. JLL acted for the private family office.

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