Trafford Centre now under new management
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Manchester’s Trafford Centre is now under new management – although the search for a buyer continues.
The centre was part of the property empire put into administration when owner intu collapsed on June 26.
However, all intu’s 17 shopping centres remained open and trading as the joint administrators from KPMG had secured funding while they assessed options for the business and assets of the group.
Since then KPMG has gradually migrated each of the centres to new management, with the Trafford migration concluding yesterday, when the centre’s Twitter account posted a message, saying: “As from today, intu Trafford Centre will no longer be part of the intu family, however the centre will continue to run as normal under new management.
“Stay tuned here for all the latest news and exciting changes that will take place at The Trafford Centre.”
The Trafford Centre has since confirmed that Manchester-based CBRE Group and international estate agency firm Savills have been appointed “to manage the centre and day-to-day operations”.
A Savills spokesperson said: “The Trafford Centre is starting a new chapter operating under new management.
“As one of the UK’s best-known and most iconic retail and leisure destinations, the centre will continue to offer visitors an unrivalled experience.”
In August it was reported that the Trafford Centre, valued at around £1.3bn, was about to be put on the market.
Sky News said the decision to seek a buyer for the centre had been forced by intu’s biggest lender, the Canada Pension Plan Investment Board (CPPIB).