intu Trafford Centre to go up for auction

The Trafford Centre is set to go up for auction, according to the latest reports published by Sky News.

The shopping centre’s owner, intu, went into administration earlier this summer – raising concerns as to whether one of Manchester’s major attractions would be able to survive.

However, this latest news is cause for optimism – with the auction held in the hope of finding a new buyer.

Speaking to Sky News, a spokesperson for administrators said: “All parties are working constructively together to maximise value for this highly attractive asset.”

Whilst being valued most recently at £1.7bn, reports suggest that Trafford Centre may be sold for 20% less.

At the time of entering administration, intu employed around 3,000 people – with a further 100,000 working in its shopping centres.