Town Centre Securities in city sell-offs

TOWN Centre Securities is on the look-out for new car parks to own and manage following the success of existing sites in Leeds and Manchester.

The Leeds-based firm also revealed that in July it had netted £8.75m from sales of two Manchester properties – £7m from an office building on Dale Street and £1.75m from a partial sale of a building on Deansgate.

TCS reiterated that re-letting the 120,000sq ft retail store at Piccadilly Basin – vacated by Ilva – remain its top priority,and reported there has been encouraging progress towards this goal.

Aldi will be opening its planned 16,000 sq ft food store later this month and there has been a notable increase in enquiries for the rest of the available space, TCS said.

TCS said it had been more than two years since it commenced any development activity although it continues to be optimistic about the long-term potential of development sites in its portfolio.

Edward Ziff, TCS’ chairman, said: “We are encouraged by signs of improvement in the occupational market and pleased to see indications of stability in property values.

“TCS is able to look to the future with a sound financial base and a robust and resilient investment portfolio.”