- Andrea Byrne
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Intu’s Trafford Centre is reportedly going up for sale two months after
it fell into administration.
PJT Partners and CBRE have been hired as the administrators to market
Intu Trafford Centre, according to Sky News.
In a statement issued to Sky, a spokesperson for the joint
administrators of Intu properties said: “All parties are working
constructively together to maximise value for this highly attractive
asset.”
The Trafford Centre was last valued publicly at close to 1.7 billion
pounds by Intu. However, it is expected by analysts to be sold for at least
20 percent less than that sum due to the coronavirus’ impact on the retail
industry.
Intu has many well-known retailers in its 17 shopping centres where it
experiences millions of tourists each year.
Intu said footfall across 13 of its shopping centres has been
“steadily improving week-on-week” since stores were allowed to open
on 15 June.
Photo credit: Intu Lakeside
