Major stake of Manchester shopping centre heads to market with £235m price tag
A 50% stake in Manchester Arndale Shopping Centre has been placed on the market for around £235m.
The former INTU RFC Investors have instructed JLL to market the stake.
Spanning 1.6 million sq ft, Manchester Arndale is one of the largest city centre covered shopping complexes in the UK.
Tenants at the scheme include Next, JD Sports, Zara, Apple, and Boots, with recent arrivals including Sephora, Joe & The Juice, and Go Outdoors.
A spokesperson for the investors said: “We are delighted to confirm we are working with JLL to commence the marketing process of the Arndale this week, providing investors an opportunity to purchase a 50 per cent stake in this super prime city centre asset that has not been available since it last sold in 2005.”
The scheme was jointly acquired by Intu and by M&G Real Estate in 2005, before Intu fell into administration in 2020.