The landowner has moved to purchase the 340,000 sq ft retail and leisure complex built as an extension to the Trafford Centre mall it sold in 2011.
Barton Square was put on the market with Savills last year with bids sought in excess of £50m. The value of the deal with the Peel Group has not been disclosed and Peel declined to comment on “market speculation”. The company is believed to be under offer on the property and a sale has yet to complete.
The Barton Square complex was redesigned in 2018 as a 110,000 sq ft extension to the Trafford Centre, during a £75m mall revamp that completed early last year. The extension provided additional retail and leisure space and the arrival of anchor tenant Primark.
As well as Primark, which operates a 65,000 sq ft store, other occupiers at Barton Square include Legoland Discovery Centre, Sea-Life, and retailers Homesense and Next Home.
Ownership of the property was last year transferred to Barton Square Limited, part of the wider Trafford Centre group of companies that took over the running of the mall after its previous owner Intu Properties collapsed into administration in June.
Barton Square Limited told Place North West last month that it had been approached by numerous bidders looking to acquire the complex.
Rebecca Ryman, a spokesperson for the management company, said at the time: “Everyone is aware of how tough things are right now in the market, but brands are also preparing to come out the other side with the launch of new European, UK or North West sites.
“Barton Square’s fantastic redevelopment, its strong tenant mix, and its position at the heart of the flourishing Trafford City presents so many opportunities for operators looking to take new space.”
The company has been approached for further comment today.