Shopping centre goes on the market for £85m

According to reports a Gloucestershire retail centre has been put up for sale for £85m.

The  Gloucester Quays shopping outlet is up for sale and the potential deal is being handled by Cushman and Wakefield on behalf of Peel Lifestyle Outlets, the owner of the centre.

The shopping centre previously went on the market in 2021 for £105m, as reported by GloucestershireLive.

The latest financial information on Companies House show that Peel Outlets (Gloucester) made a profit of £3.29m for the year ended March 31 2023, compared to £15.36m loss in 2022.

A spokesperson from parent company Peel L&P said: “Gloucester Quays is currently trading strongly and with a recent flurry of new store openings, including Timberland and Levis, our shopping and leisure destination is expecting to exceed targets for the final quarter of the year.

“As we enter our peak trading period, we will be reviewing our options to ensure the continued success of Gloucester Quays throughout 2024 and beyond.”

Gloucester Quays opened in 2009 following an investment of £248m.