Investors behind Intu’s revolving credit facility have instructed JLL to sell a 50% stake in the Arndale Shopping Centre in Manchester.
It is understood the investors are seeking around £250m for the stake. The remaining 50% of the 1.96m sq ft centre is owned by M&G Real Estate, with asset management provided by Global Mutual.
Key tenants at the scheme include Apple, Next, Boots, JD Sports and Zara. Over the past 24 months, both existing and new occupiers have invested significant capital into refurbishing and launching stores, underlining their commitment to one of the UK’s leading retail destinations.
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% stake in this super prime city centre asset that has not been available since it last sold in 2005.”
Image: © Manchester Arndale
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