It has been announced today that a Canadian property investment company has become the new owner of the Trafford Centre.
Canada Pension Plan Investment Board (CPP Investments) – which is headquartered in Toronto and is a well-established investor in UK shopping centres, with specialist experience of owning large scale retail assets – has acquired ownership of the shopping centre after failing to find an alternative buyer upon previous owner Intu collapsing into administration back in June.
No price has been revealed, but it is understood to be in the region of £800 million, which is less than the £1.3 billion valuation quoted in August this year.
Last month, it was announced that Manchester-based CBRE Group and international firm Savills had been appointed “to manage the centre and day to day operations” of the mall, but now CPPIB – through its wholly owned subsidiary CPPIB Credit Investments Inc (CPPIB Credit) – has acquired sole ownership.
In 2017, CPPIB provided a £250 million loan to Intu to secure against its prime asset.
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But this was not enough to save the shopping centre giant after it was hit hard due to the coronavirus (COVID-19) pandemic – with many of its retail tenants going out of business or unable to pay rent – before it collapsed into administration under the weight of £5 billion in debt.
Intu’s ongoing economic struggles also came as value of shopping centres has fallen dramatically against the backdrop of consumers’ increasing preference for online retail.
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Despite this, the new owners remain hopeful for the centre’s long-term prospects.
As part of its new ownership plan, CPPIB says it will also “evaluate the Trafford Centre’s complex capital structure to ensure it supports the return to long-term viability.”
Speaking on the acquisition, Geoff Souter – Managing Director and Head of Real Assets Credit at CPPIB Credit – said: “The Trafford Centre is one of the UK’s top five shopping centres, welcoming more than 30 million shoppers annually, and counts many leading global retailers among its occupiers.
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“While conditions for retail in 2020 have been very challenging, we are able to take a long-term view and believe that, with strategic management and investment, the Trafford Centre has strong prospects.
“An immediate priority is to support the Trafford Centre’s management, ensuring continued optimal operation of the Trafford Centre, and to appoint a long-term expert operating partner.”
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Student police officer charged with off-duty rape and kidnap of woman in Manchester
Emily Sergeant
A student police officer has been charged with the rape and kidnap of a woman in Manchester while he was off duty.
Mohammad Hassan, 23-years-old and of Asian-Pakistani ethnicity, has been remanded in custody following the charges, and has been suspended Greater Manchester Police (GMP).
The charges – which have been authorised by the Crown Prosecution Service (CPS) following a police investigation – relate to reports made to authorities on the evening of Saturday 8 August 2026, which ended in a police pursuit on the M62 in West Yorkshire.
Following the police pursuit, a woman was safeguarded at the scene, and continues to be supported by specialist officers and support services.
Hassan has been charged with oral rape, kidnap, strangulation, sexual assault, theft of mobile phone, and dangerous driving.
He is set to appear at Manchester Magistrates’ Court today (11 August).
“GMP detectives and staff have been working on this investigation throughout the last 48 hours to ensure charges are brought in this case,” explained GMP Assistant Chief Constable, Mark Dexter.
“The victim is our priority, and we are ensuring she continues to receive specialist support. Criminal proceedings must now take its course without interference.
“I understand, and share, the feeling among the public and our thousands of hard-working, decent staff who will have seen this news. Proceedings are underway and necessary action will be decisively taken within the regulations.”
Featured Image – GMP
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Cult US sustainable clothing brand Reformation to open in Manchester city centre
Emily Sergeant
Cult US sustainable clothing brand Reformation is set to open its doors in Manchester very soon.
Since it was first founded in Los Angeles all the way back in 2009, Reformation has gone on to become one of the largest sustainable womenswear brands on the planet, and is now known and loved for making beautiful, timeless apparel and accessories that aim to ‘inspire confidence’ across life stages and occasions.
Operating on a business model that pairs a smart approach to merchandising with a responsive supply chain, Reformation now operates more than 70 retail stores across the US, UK, Canada, and France.
At the heart of the Reformation story is a genuine commitment to ‘doing things differently’.
Since day one, sustainability has been woven into everything the brand makes – from the eco-certified fabrics and responsible factories, to its famously transparent sustainability reports.
Currently, Reformation has five UK stores to its name – but, it may come as no surprise to fans of the brand that they’re all in London.
That’s why the news of this new Manchester opening is such a big deal.
Set to be the label’s first UK store outside of the capital, Reformation has secured a prime spot on King Street in the heart of the city centre, and although there’s no confirmed opening date as of yet, if the shop windows saying ‘Summer 2026’ are anything to go by, we can only imagine it’ll be very soon.
“For Manchester, it’s a landmark moment, and for King Street, it’s the latest signal that this is one of the UK’s most exciting retail destinations,” a spokesperson for King Street said in a statement.
Stay tuned for details on opening dates to be announced in due course.
The Manc -
16th December 2020 
