Council and Bruntwood Works finalise property deal to boost economic regeneration
Trafford Council and Bruntwood Works have finalised a £50m property deal which is set to provide a massive boost to the borough’s economic regeneration.
Contracts have been exchanged on the joint venture, which will see the acquisition of Stretford Mall as well as Altrincham’s Stamford Quarter Shopping Centre and Clarendon House, more than doubling Bruntwood Works’ retail and leisure portfolio.
Plans for the redevelopment of Stretford will be made in conjunction with residents and businesses to ensure the successful regeneration of the area.
Cllr Andrew Western said: “This is fantastic news for Trafford. One of our aims is to create successful and thriving places in the borough, with a particular focus on our town centres and local communities, and this deal allows us to do this.
“Acquiring Stretford Mall will be a massive boost to the area and our residents, with the opportunity for comprehensive redevelopment to also include our Lacy Street site. I know residents have been calling out for more investment in the area and we are listening to them.”
Andrew Cooke, Regional Director at Bruntwood Works, said: “Altrincham town centre is one of Greater Manchester’s biggest success stories in recent years, soaring in footfall, economic growth and consumer appeal, so we’re thrilled to be part of its journey.
“We have a long history of creating places, developing inspirational workspaces alongside flourishing retail destinations, and we have always sought to create incredible environments and communities in which our customers can grow.”
CBRE acted as the agent for Bruntwood Works and Trafford Council, while Savills acted on behalf of the vendor.
Addleshaw Goddard advised Bruntwood Works and Trafford Council on the deal and Hamlins was instructed by the vendor.