Multi-million deal for Accrington Arndale Centre (From Lancashire Telegraph)
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Multi-million deal for Accrington Arndale Centre
12:00pm Thursday 26th April 2012 in Accrington
By Emma Cruces, Reporter
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)
12:13pm Thu 26 Apr 12
happycyclist says...
1:03pm Thu 26 Apr 12
mavrick says...
1:04pm Thu 26 Apr 12
DJ_Jaybee says...
1:41pm Thu 26 Apr 12
tntoast says...
9:04pm Thu 26 Apr 12
Michael@ClitheroeSince58 says...
9:14pm Thu 26 Apr 12
floydbrfc says...
9:14pm Thu 26 Apr 12
floydbrfc says...
11:58pm Thu 26 Apr 12
hunter3062 says...
7:11am Fri 27 Apr 12
Kevin, Colne says...
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.
10:34pm Sat 28 Apr 12
Michael@ClitheroeSince58 says...
10:33am Sun 29 Apr 12
DJ_Jaybee says...
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.
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2:15pm Sun 29 Apr 12
Michael@ClitheroeSince58 says...
3:37pm Sun 29 Apr 12
Lovelancs says...
6:45am Fri 4 May 12
mys says...
6:48am Fri 4 May 12
mys says...
2:12pm Mon 7 May 12
Nikilancashire says...
2:16pm Mon 7 May 12
Nikilancashire says...