Blackburn based Adhan Group have announced the acquisition of the Peel Leisure & Retail Park in the town.
The site takes in Vue Cinema, Ten Pin Bowling, Pizza Hut, Nando’s, Dunelm Mill and the large Matalan store.
The deal was said to be completed for an undesclosed sum under the asking price of £22 million.
It comes during a busy start of the year for the multi-million pound company, which also purchased the Golden Square Shopping Centre in Warrington for an undisclosed fee and the Pendle Park development site off Barrowford Road in Pendle.
Peel Leisure & Retail Park, close to the centre of Blackburn, is spread over three areas with Vue Cinemas Vue Cinema, Ten Pin Bowling and Nando’s taking up the leisure section.
The retail section is made up by Matalan and Dunelm, two long established retailers, which are based opposite the Pizza Hut.
The company said it was in talks with alternate users for the former DW gym unit, with new tenants being approached.
The Peel Leisure & Retail Park is based off Lower Audley Street
Adhan Group chief executive, Salim Patel, said: “There has been much written in the press recently in regards to the decline in the retail market place, especially within town centre locations.
“We see this as both an opportunity to support our local town and believe that retail is commencing substantiated, albeit slow, improvement.
“Footfall continues to return to town centres as shoppers prefer to seek the best value for their money in these challenging, financial times.”
The site includes the Pizza Hut and Dunelm Mill
The 10-screen Vue Cinemas opened in 2005
In 2022 the retail arm of the Adhan Group of Companies bought The Mall Blackburn in a deal worth £40 million.
In August, 2021 the company acquired Preston’s St George’s Shopping Centre for an undisclosed sum.
Founded in 2003, The Adhan Group is based in Preston New Road, close to the town centre, and is a one of the leading commercial and industrial lettings and sales companies in the north of England.
The company’s portfolio covers Yorkshire, Cheshire, the Wirral, Leeds, Liverpool, Manchester, and North Wales, with expansions into the Midlands and the South.
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