Lancashire TelegraphMulti-million deal for Accrington Arndale Centre (From Lancashire Telegraph)

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Multi-million deal for Accrington Arndale Centre

Lancashire Telegraph: Multi-million deal for Accrington Arndale Centre Multi-million deal for Accrington Arndale Centre

A MAJOR East Lancashire shopping centre is to launch a bid to attract more national retailers after changing hands in a multi-million deal.

Accrington Arndale Centre’s new managers are hoping to bring more big names to the town now its new offshore owners have been finalised.

The change in ownership is said to have taken months to agree contracts, and has seen the site sold for the seventh time in 15 years.

It was put up for sale for around £17million last August by the wealth management arm of Swiss bank UBS, who bought the building five years ago for £37.5m – more than double the sale price they asked for.

The new owners, an anonymous off-shore company, are tight-lipped about the exact amount the building has ultimately sold for.

Property management of the centre will be passed to Manchester-based firm Lee Baron and the new owners have asked the London asset management firm Jesta to oversee their interests in the site.

The new managers of the Arndale said they hope to revitalise the centre and encourage interest from big national retailers.

David Berman at Jesta said: “It’s going to be business as usual at the Arndale Centre and of course we are hoping to improve it as much as we can.”

Council leader Miles Parkinson said the authority hoped to work with the new owners.

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Comments (17)

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12:13pm Thu 26 Apr 12

happycyclist says...

Bring the clock back!
Bring the clock back! happycyclist
  • Score: 0

1:03pm Thu 26 Apr 12

mavrick says...

Whilst any investment in Accrington is to be welcomed, I can't help thinking the key to revitalising the town centre is the market. If the market was to be allowed to sprawl around the centre I think this would attract more people to the town. I am not talking about a flea market although there is a place for that. The victorian arcade needs refurbishing to a high standard. we need to attract more small specialised shops into the victorian shops around the town centre. Accrington has enough large supermarkets. All we need then is to bring some decent employment into the town, People will then have money to spend.
Whilst any investment in Accrington is to be welcomed, I can't help thinking the key to revitalising the town centre is the market. If the market was to be allowed to sprawl around the centre I think this would attract more people to the town. I am not talking about a flea market although there is a place for that. The victorian arcade needs refurbishing to a high standard. we need to attract more small specialised shops into the victorian shops around the town centre. Accrington has enough large supermarkets. All we need then is to bring some decent employment into the town, People will then have money to spend. mavrick
  • Score: 0

1:04pm Thu 26 Apr 12

DJ_Jaybee says...

Bring the clock back!
Bring the clock back! DJ_Jaybee
  • Score: 0

1:41pm Thu 26 Apr 12

tntoast says...

bring the clock back!!!
bring the clock back!!! tntoast
  • Score: 0

9:04pm Thu 26 Apr 12

Michael@ClitheroeSince58 says...

Don't bring back that stupid clock
Don't bring back that stupid clock Michael@ClitheroeSince58
  • Score: 0

9:14pm Thu 26 Apr 12

floydbrfc says...

Michael@ClitheroeSin
ce58
wrote:
Don't bring back that stupid clock
Islamic centre for Clitheroe please
[quote][p][bold]Michael@ClitheroeSin ce58[/bold] wrote: Don't bring back that stupid clock[/p][/quote]Islamic centre for Clitheroe please floydbrfc
  • Score: 0

9:14pm Thu 26 Apr 12

floydbrfc says...

Michael@ClitheroeSin
ce58
wrote:
Don't bring back that stupid clock
Islamic centre for Clitheroe please
[quote][p][bold]Michael@ClitheroeSin ce58[/bold] wrote: Don't bring back that stupid clock[/p][/quote]Islamic centre for Clitheroe please floydbrfc
  • Score: 0

11:58pm Thu 26 Apr 12

hunter3062 says...

jesta management..thats right they are having a laugh.theres nowt worth investing in you might as well turn it into a large 99p shop incorperating the pound bakery into it.biggest business in accrington maundy grange on shabby st.
jesta management..thats right they are having a laugh.theres nowt worth investing in you might as well turn it into a large 99p shop incorperating the pound bakery into it.biggest business in accrington maundy grange on shabby st. hunter3062
  • Score: 0

7:11am Fri 27 Apr 12

Kevin, Colne says...

One must hope that UBS Wealth Management do not make a habit of buying non-prime assets for full price and then selling them on the basis of buy half, get the other half free. I imagine that the Arndale Centre at Accrington must represent a tiny portion only of the total assets held by the wealth management group but the folks who are having their capital destroyed will be people who have entrusted their savings to the professional experts, and in all likelihood they will be paying a premium in fees, which must surely add insult to injury.

Turning now to the second issue: attracting big names to Accrington. Well, I wish the new owners well and they have an advantage over the previous owner in as much as they will have greater manoeuvre financially to offer attractive terms to potential tenants, but quite frankly I would be surprised if many Big Names are eager to expand their physical footprint other than selectively and in prime sites, where most have a presence already.

Yesterday I was speaking with someone in one of the retailing arms of a national group and they said that business was dire and the company was looking to exit from town centres as and when leases expired. I suspect that this retailing group is not untypical and that many owners and managers of non-prime retailing centres are now running very hard to simply stand still.
One must hope that UBS Wealth Management do not make a habit of buying non-prime assets for full price and then selling them on the basis of buy half, get the other half free. I imagine that the Arndale Centre at Accrington must represent a tiny portion only of the total assets held by the wealth management group but the folks who are having their capital destroyed will be people who have entrusted their savings to the professional experts, and in all likelihood they will be paying a premium in fees, which must surely add insult to injury. Turning now to the second issue: attracting big names to Accrington. Well, I wish the new owners well and they have an advantage over the previous owner in as much as they will have greater manoeuvre financially to offer attractive terms to potential tenants, but quite frankly I would be surprised if many Big Names are eager to expand their physical footprint other than selectively and in prime sites, where most have a presence already. Yesterday I was speaking with someone in one of the retailing arms of a national group and they said that business was dire and the company was looking to exit from town centres as and when leases expired. I suspect that this retailing group is not untypical and that many owners and managers of non-prime retailing centres are now running very hard to simply stand still. Kevin, Colne
  • Score: 0

10:34pm Sat 28 Apr 12

Michael@ClitheroeSince58 says...

The only thing Accy ever had worth visiting was the market and that's long gone, and as for the clock man that was so tacky.
The only thing Accy ever had worth visiting was the market and that's long gone, and as for the clock man that was so tacky. Michael@ClitheroeSince58
  • Score: 0

10:33am Sun 29 Apr 12

DJ_Jaybee says...

Children with their faces lit up in wonderment about the clock made it something special about visiting to see for them and unique to Accrington... whereas everywhere has an M&S and a WH Smith. I know my son for one loved to watch it.

Some people like Michael@clitheroe sounds they really didn't really get it... They sound like they've lost their fizzle and would like to get rid of Santa + they tell kids the characters at Disneyland are just people in costumes too... Bah humbug.

www.facebook.com/pag
es/Bring-back-the-Ac
crington-Arndale-wor
ld-clock-D/219362068
295
Children with their faces lit up in wonderment about the clock made it something special about visiting to see for them and unique to Accrington... whereas everywhere has an M&S and a WH Smith. I know my son for one loved to watch it. Some people like Michael@clitheroe sounds they really didn't really get it... They sound like they've lost their fizzle and would like to get rid of Santa + they tell kids the characters at Disneyland are just people in costumes too... Bah humbug. www.facebook.com/pag es/Bring-back-the-Ac crington-Arndale-wor ld-clock-D/219362068 295 DJ_Jaybee
  • Score: 0

2:15pm Sun 29 Apr 12

Michael@ClitheroeSince58 says...

DJ_Jaybee wrote:
Children with their faces lit up in wonderment about the clock made it something special about visiting to see for them and unique to Accrington... whereas everywhere has an M&S and a WH Smith. I know my son for one loved to watch it.

Some people like Michael@clitheroe sounds they really didn't really get it... They sound like they've lost their fizzle and would like to get rid of Santa + they tell kids the characters at Disneyland are just people in costumes too... Bah humbug.

www.facebook.com/pag

es/Bring-back-the-Ac

crington-Arndale-wor

ld-clock-D/219362068

295
Sorry you are wrong, It was great for the kids and I appreciate that. It was all the moronic adults that used to gather around it on the hour, it was a very, very sad spectacle to behold so many morons in one place.
[quote][p][bold]DJ_Jaybee[/bold] wrote: Children with their faces lit up in wonderment about the clock made it something special about visiting to see for them and unique to Accrington... whereas everywhere has an M&S and a WH Smith. I know my son for one loved to watch it. Some people like Michael@clitheroe sounds they really didn't really get it... They sound like they've lost their fizzle and would like to get rid of Santa + they tell kids the characters at Disneyland are just people in costumes too... Bah humbug. www.facebook.com/pag es/Bring-back-the-Ac crington-Arndale-wor ld-clock-D/219362068 295[/p][/quote]Sorry you are wrong, It was great for the kids and I appreciate that. It was all the moronic adults that used to gather around it on the hour, it was a very, very sad spectacle to behold so many morons in one place. Michael@ClitheroeSince58
  • Score: 0

3:37pm Sun 29 Apr 12

Lovelancs says...

Michael@clitheroe, often gives negative quotes for Accrington, I think he has a soft spot for Accy really.
Michael@clitheroe, often gives negative quotes for Accrington, I think he has a soft spot for Accy really. Lovelancs
  • Score: 0

6:45am Fri 4 May 12

mys says...

What's the fuss all about,doesn't it tell you something,sorry but accringtons a dump nowadays ,there's hardly any shops left apart from pound shops and charity shops,it's full of dole dossiers,**** heads and druggies,maundy has more shops ,I used to love coming to accrington town yrs ago,but hate the dirty place now,there's no decent shops left,the people who have bought the arndale should of give the cash to cancer research it would help them more instead of wasting it.....
What's the fuss all about,doesn't it tell you something,sorry but accringtons a dump nowadays ,there's hardly any shops left apart from pound shops and charity shops,it's full of dole dossiers,**** heads and druggies,maundy has more shops ,I used to love coming to accrington town yrs ago,but hate the dirty place now,there's no decent shops left,the people who have bought the arndale should of give the cash to cancer research it would help them more instead of wasting it..... mys
  • Score: 0

6:48am Fri 4 May 12

mys says...

What's the fuss all about,doesn't it tell you something,sorry but accringtons a dump nowadays ,there's hardly any shops left apart from pound shops and charity shops,it's full of dole dossiers,**** heads and druggies,maundy has more shops ,I used to love coming to accrington town yrs ago,but hate the dirty place now,there's no decent shops left,the people who have bought the arndale should of give the cash to cancer research it would help them more instead of wasting it.....
What's the fuss all about,doesn't it tell you something,sorry but accringtons a dump nowadays ,there's hardly any shops left apart from pound shops and charity shops,it's full of dole dossiers,**** heads and druggies,maundy has more shops ,I used to love coming to accrington town yrs ago,but hate the dirty place now,there's no decent shops left,the people who have bought the arndale should of give the cash to cancer research it would help them more instead of wasting it..... mys
  • Score: 0

2:12pm Mon 7 May 12

Nikilancashire says...

Thankfully some investment is going into Accrington ! So long overdue ! I really do hope that the investors think very carefully of giving the Arndale Center a facelift ! They need to knock it down & start again or even repair the roof , its forever leaking ! The investors should have shops like : Bodyshop , Hmv , h & m , a internet cafe , etc shops tht will help kids in all generations like , make yr own cd , an arts center for all , a activity play center & shop for kids wth all needs weather thr complex or not ! Not a lot of places think of these things for all our generations n thy should ! Not everybody has cars to travel out of town etc & keeping amenities like the suggestions mentioned wd b of massive benefit to Accrington & the ppl who live in it ! If I won lottery I'd renovate the Arndale myself ! This town needs some love putting bk into it & sensible investors ! The rent of the Arndale needs to be reduced otherwise everything will close ! It's a shame to see Accrington go down its nothing to wht I remember when I was a kid ! Investors please think carefully for the ppl of Accrington of all generations n our future ! Other towns seem to get far more funding than Accrington , its not fair ! Accrington is a town too ! If the council / government would lower the rent on business properties we would be in a far better position today with jobs kept etc !! Turn Accrington back into a pleasant town , get rid of the betting shops ! Bring back Woolworths ! Keep M & S , Dorothy Perkins & Burton's , New look & Claire's Accessories ! I really hope that the investors really do think ahead & plan carefully without taking far too long , & please consider the ppl of Accrington , I know you hv to make profit & so do we has our profit is keeping our families alive , putting meals infrnt of our kids etc !!! That's our profit ! It's a shame tht how times have changed etc , careful planning goes an awful long way & sensible rent charges etc ! Turn Accrington around ! It certainly deserves to be saved ! I look forward to all the jobs it will create & consider those who all ready live in Accrington too ! I'm sure ppl hv doubts to how much these investors put into it & so am I however if thy plan carefully & keep the rents low so that shops can keep their location , then instead of the investors looking at a quick turnover profit then look at the long-term continuous profit which in all will keep the shops , ppl kept in jobs n thus giving the town more revenue !!
Thankfully some investment is going into Accrington ! So long overdue ! I really do hope that the investors think very carefully of giving the Arndale Center a facelift ! They need to knock it down & start again or even repair the roof , its forever leaking ! The investors should have shops like : Bodyshop , Hmv , h & m , a internet cafe , etc shops tht will help kids in all generations like , make yr own cd , an arts center for all , a activity play center & shop for kids wth all needs weather thr complex or not ! Not a lot of places think of these things for all our generations n thy should ! Not everybody has cars to travel out of town etc & keeping amenities like the suggestions mentioned wd b of massive benefit to Accrington & the ppl who live in it ! If I won lottery I'd renovate the Arndale myself ! This town needs some love putting bk into it & sensible investors ! The rent of the Arndale needs to be reduced otherwise everything will close ! It's a shame to see Accrington go down its nothing to wht I remember when I was a kid ! Investors please think carefully for the ppl of Accrington of all generations n our future ! Other towns seem to get far more funding than Accrington , its not fair ! Accrington is a town too ! If the council / government would lower the rent on business properties we would be in a far better position today with jobs kept etc !! Turn Accrington back into a pleasant town , get rid of the betting shops ! Bring back Woolworths ! Keep M & S , Dorothy Perkins & Burton's , New look & Claire's Accessories ! I really hope that the investors really do think ahead & plan carefully without taking far too long , & please consider the ppl of Accrington , I know you hv to make profit & so do we has our profit is keeping our families alive , putting meals infrnt of our kids etc !!! That's our profit ! It's a shame tht how times have changed etc , careful planning goes an awful long way & sensible rent charges etc ! Turn Accrington around ! It certainly deserves to be saved ! I look forward to all the jobs it will create & consider those who all ready live in Accrington too ! I'm sure ppl hv doubts to how much these investors put into it & so am I however if thy plan carefully & keep the rents low so that shops can keep their location , then instead of the investors looking at a quick turnover profit then look at the long-term continuous profit which in all will keep the shops , ppl kept in jobs n thus giving the town more revenue !! Nikilancashire
  • Score: 0

2:16pm Mon 7 May 12

Nikilancashire says...

Thankfully some investment is going into Accrington ! So long overdue ! I really do hope that the investors think very carefully of giving the Arndale Center a facelift ! They need to knock it down & start again or even repair the roof , its forever leaking ! The investors should have shops like : Bodyshop , Hmv , h & m , a internet cafe , etc shops tht will help kids in all generations like , make yr own cd , an arts center for all , a activity play center & shop for kids wth all needs weather thr complex or not ! Not a lot of places think of these things for all our generations n thy should ! Not everybody has cars to travel out of town etc & keeping amenities like the suggestions mentioned wd b of massive benefit to Accrington & the ppl who live in it ! If I won lottery I'd renovate the Arndale myself ! This town needs some love putting bk into it & sensible investors ! The rent of the Arndale needs to be reduced otherwise everything will close ! It's a shame to see Accrington go down its nothing to wht I remember when I was a kid ! Investors please think carefully for the ppl of Accrington of all generations n our future ! Other towns seem to get far more funding than Accrington , its not fair ! Accrington is a town too ! If the council / government would lower the rent on business properties we would be in a far better position today with jobs kept etc !! Turn Accrington back into a pleasant town , get rid of the betting shops ! Bring back Woolworths ! Keep M & S , Dorothy Perkins & Burton's , New look & Claire's Accessories ! I really hope that the investors really do think ahead & plan carefully without taking far too long , & please consider the ppl of Accrington , I know you hv to make profit & so do we has our profit is keeping our families alive , putting meals infrnt of our kids etc !!! That's our profit ! It's a shame tht how times have changed etc , careful planning goes an awful long way & sensible rent charges etc ! Turn Accrington around ! It certainly deserves to be saved ! I look forward to all the jobs it will create & consider those who all ready live in Accrington too ! I'm sure ppl hv doubts to how much these investors put into it & so am I however if thy plan carefully & keep the rents low so that shops can keep their location , then instead of the investors looking at a quick turnover profit then look at the long-term continuous profit which in all will keep the shops , ppl kept in jobs n thus giving the town more revenue !!
Thankfully some investment is going into Accrington ! So long overdue ! I really do hope that the investors think very carefully of giving the Arndale Center a facelift ! They need to knock it down & start again or even repair the roof , its forever leaking ! The investors should have shops like : Bodyshop , Hmv , h & m , a internet cafe , etc shops tht will help kids in all generations like , make yr own cd , an arts center for all , a activity play center & shop for kids wth all needs weather thr complex or not ! Not a lot of places think of these things for all our generations n thy should ! Not everybody has cars to travel out of town etc & keeping amenities like the suggestions mentioned wd b of massive benefit to Accrington & the ppl who live in it ! If I won lottery I'd renovate the Arndale myself ! This town needs some love putting bk into it & sensible investors ! The rent of the Arndale needs to be reduced otherwise everything will close ! It's a shame to see Accrington go down its nothing to wht I remember when I was a kid ! Investors please think carefully for the ppl of Accrington of all generations n our future ! Other towns seem to get far more funding than Accrington , its not fair ! Accrington is a town too ! If the council / government would lower the rent on business properties we would be in a far better position today with jobs kept etc !! Turn Accrington back into a pleasant town , get rid of the betting shops ! Bring back Woolworths ! Keep M & S , Dorothy Perkins & Burton's , New look & Claire's Accessories ! I really hope that the investors really do think ahead & plan carefully without taking far too long , & please consider the ppl of Accrington , I know you hv to make profit & so do we has our profit is keeping our families alive , putting meals infrnt of our kids etc !!! That's our profit ! It's a shame tht how times have changed etc , careful planning goes an awful long way & sensible rent charges etc ! Turn Accrington around ! It certainly deserves to be saved ! I look forward to all the jobs it will create & consider those who all ready live in Accrington too ! I'm sure ppl hv doubts to how much these investors put into it & so am I however if thy plan carefully & keep the rents low so that shops can keep their location , then instead of the investors looking at a quick turnover profit then look at the long-term continuous profit which in all will keep the shops , ppl kept in jobs n thus giving the town more revenue !! Nikilancashire
  • Score: 0

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