Shopping centre hits the market for £24m
A SHOPPING CENTRE in Tameside is up for sale with a £24.25m price tag.
Savills has been appointed by receiver Daniel Smith of Grant Thornton to sell The Arcades Shopping Centre in Ashton-under-Lyne.
The two storey centre offers 138,691 sq ft of retail space across 45 units and is let to a mix of national and independent retailers including Wilko, New Look, Next and WH Smith. It generates a rental income of around £2.9m a year.
The Arcades Shopping Centre opened in 1995 and forms an integral part of the retail provision in Ashton-under-Lyne’s town centre. It is located adjacent to the Ladysmith Centre and the Market Square, which is currently undergoing a £4.5m refurbishment.
Mark Garmon-Jones, investment director at Savills, said: “With a strong tenant mix and numerous opportunities to increase long term income through asset management, we are confident this shopping centre investment will have wide appeal.”
