A 50% stake in the Arndale Shopping Centre in Manchester has been put up for sale by the former INTU RCF investors.
JLL has been instructed to sell the stake in the shopping centre, which comprises 1.96m sq ft of space and counts Apple, Next, Boots, JD Sports and Zara as key tenants.
Over the past two years, existing and new tenants have invested significant capital into upgrading existing stores and new stores, with the centre securing a number of new tenants.
According to media reports, the investors are seeking circa £235m for the stake.
A spokesperson for the investors said: “We are delighted to confirm we are working with JLL to commence the marketing process of the Arndale this week, providing investors an opportunity to purchase a 50% stake in this super prime city centre asset that has not been available since it last sold in 2005.”
