The scheme — which will see the acquisition of Stretford Mall, Altrincham’s Stamford Quarter Shopping Centre and Clarendon House — will more than double Bruntwood Works’ retail, leisure and lifestyle portfolio.
Plans for the redevelopment of Stretford will be made in conjunction with residents and businesses and the returns from the £50m investment will be circulated back into frontline services for the council.
CBRE acted as the agent for Bruntwood Works and Trafford Council, while Savills acted on behalf of the vendor.
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“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,” said Cllr Andrew Western.
“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.”
Andrew Cooke, regional director at Bruntwood Works, added: “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.”