The Peel Group has bought the 300,000 sq ft Lowry Outlet Mall in Salford Quays, Greater Manchester, from Cheshire-based Emerson Group.
The purchase price was not disclosed, although Peel is understood to be paying around £70m.
The scheme sits close to Peel’s MediaCityUK estate and comprises 80 shops, plus cafés, restaurants and a cinema. Occupiers include M&S Outlet, Nike Factory Outlet, GAP Outlet and Flannels.
Peel Group chairman John Whittaker said: “This is an important strategic acquisition for us and continues to extend the MediaCityUK community across the Quays from the BBC and ITV, as well as the new tenants moving into MediaCityUK. The mall complements MediaCityUK perfectly and will give us the opportunity to look at the most effective ways of increasing visitor numbers and enhancing the experience for customers.”
Daniel.cunningham@estatesgazette.com
