Peel chairman John Whittaker continued his buying spree in Trafford Centre owner Intu Properties, spending £311,765 on shares last Thursday.
The 100,000 shares acquired took his stake to 19.86%, rising to 23.85% if bonds are included.
Intu shares opened down this morning at 309p, valuing the business at £2.99bn.
Whittaker has bought shares consistently in the mall group since Peel Holdings sold the Trafford Centre to Capital Shopping Centres in November 2010 for £75m and a 19.9% stake in Intu.
His stake was diluted through a new share issue in March to fund the £250m of the Midsummer Place Shopping Centre in Milton Keynes.
Prior to the March issue, Peel Group held 20.1% of the issued share capital of Intu and undertook to subscribe for approximately £50m of new shares.