Tameside acquires second Ashton shopping centre to further £1bn regen ambition
Having bought the Ladysmith Shopping Centre in earlier this year, the local council has now purchased the 140,000 sq ft Arcades as it ramps up plans to regenerate the town centre.
Tameside Council has acquired the retail asset out of administration having been given approval from the GMCA, which is providing a £4m loan for the purchase, to proceed.
The shopping centre forms part of Tameside’s £1bn Ashton regeneration plans, which also feature a refreshed market and revamped town hall. Under those plans, the Ladysmith would be demolished to pave the way for housing. The masterplan for Ashton adopted in 2025 states that the Arcades would be retained as retail. For now, both shopping centres will trade as normal.
The Arcades transaction follows the acquisition of the 151,500 sq ft Ladysmith Shopping Centre next door from NewRiver REIT in May. The Arcades deal gives the council full control over almost 300,000 sq ft of core shopping-centre space in the heart of the town.
Deborah McLaughlin, chair of the Ashton Mayoral Development Zone, in which both shopping centres sit, said: “Bringing both the Arcades and Ladysmith into public ownership is a major milestone in Ashton’s regeneration. With Market Square being transformed and the Town Hall restored as a cultural hub, the town centre is already changing.
“Taking control of both shopping centres gives the council the opportunity to shape a stronger retail offer, support local businesses and create space for new homes, leisure and workspace. Our ambition is to create a more vibrant town centre that gives residents more reasons to visit, spend time and spend locally, while attracting new businesses, investment and jobs.”
She added: “The proposed Ashton and Stalybridge MDC would provide a platform to help accelerate that transformation and unlock further regeneration opportunities.
“For our development partners, this is a rare opportunity: a clear vision, control of key town centre assets and the ambition to turn that vision into reality — delivering lasting benefits for Ashton’s residents, businesses and wider community.”
Tenants at The Arcades include Boots, Home Bargains, Peacocks, Greggs, and Costa Coffee. Ashdown Phillips will replace Munroe K Asset Management as managing agent. Richard Lucas Property Consultants and Barker Proudlove are the retained agents for Arcades.
The centre’s former owner Fairacre (Ashton) Car Park Limited, was placed into administration by N M Rothschild & Sons in February having failed to repay £18m of debts, according to administration filings by BTG Begbies Traynor.
Prior to 2024, the centre had been owned by a Jersey-based Fairacre entity, which acquired it for £25m in 2015. Before that, the asset last traded for £84m in 2007.
Eleanor Wills, Leader of Tameside Council, said: “Ashton has a long history as one of the North West’s major market and commercial destinations. We’re planning to build on this heritage while creating a modern town centre that reflects how people shop, work, live and spend their leisure time today.
“Our vision is for it to be a place that offers real opportunity and an exceptional quality of life to everyone who lives and works here. Owning both centres ensures these important assets have a long-term future, and that Ashton can continue to be shaped with local people and businesses in mind.”
