Two months after filing for administration, Intu Trafford Centre is seeking a buyer for the £1.7 billion shopping centre.
The Trafford Centre is set to be put up for auction after pressure from its biggest lender.
It comes two months after the parent company, Intu Properties, collapsed into administration. The board of the entity which controls the Trafford Centre has appointed PJT Partners, the investment bank, and the property agent CBRE to market the site, according to Sky News.
The Trafford Centre was last publicly valued by Intu at just under £1.7billion, however, analysts are expected it to be sold for at least 20% less than that.
TOOEDDD/Flickr
In a statement issued to Sky News, a spokesperson for the joint administrators of Intu properties said: “All parties are working constructively together to maximise value for this highly attractive asset.”
PJT is said to be have been advising the Trafford Centre’s single-biggest lender of capital, Canada Pension Plan Investment Board (CPPIB), for some time before the administrators were called in back in July.
CPPIB is one of the world’s largest pension funds and reportedly wants a quick sale of the Trafford Centre.
Appointing advisors is set to kick off a formal sale process, and is also expected to attract the property tycoon who sold the Trafford Centre to Intu in 2011, John Whittaker, according to Sky News.
Jonathan Palombo / Flickr
The auction will provide a crucial test to investors at a time when the Trafford Centre, like many retail outlets, has suffered due to the coronavirus pandemic.
Intu directly employs 3,000 people with a further 102,000 working in its shopping centres across the UK. There are a further 30,000 people employed in its supply chain.
The administrator, KPMG, appointed earlier this year, has secured funding to continue managing Intu’s portfolio for six months.
Property sources and insiders have said the Trafford Centre will attract substantial interest in the UK and international investments. One source added that ‘assets of Trafford’s quality and lot size do not come to market often’.
While we’ll have to wait a bit longer to discover the outcome of the auction, it’s good news for fans of the shopping centre and people who work there, as it looks unlikely it’ll have to close at this point.
Kyle Hackland was stabbed to death in broad daylight in South Manchester last year, as all four teenagers have now been named.
Kyle, who was 17 at the time, was stabbed to death in a violent attack at around midday, in Withington, back in November 2022.
Today, four teenagers have been sentenced for over 70 years between them, with three found guilty of murder and one found guilty of manslaughter.
Tafari Kosey-Smith and Alfie Benson can now be named after they were both jailed following the six-week trial.
Kyle Hackland / Greater Manchester Police
Yousef Sesay was sentenced to 22 years, Lewis Ludford for 21 years (with two years concurrent for a bladed article) and Kosey-Smith for 19 years (with two years concurrent for a bladed article), after all were found guilty of murder.
Whilst Benson was jailed for 12 years (with two years concurrent for burglary offences) after being found guilty of manslaughter, at Manchester and Salford Magistrates Court today, on Tuesday October 3rd.
Those sentenced drove around the area in a stolen Volkswagen Golf looking to seek revenge when they came across a Mercedes vehicle which they wrongly believed was connected to Kyle’s friend.
Yousef Sesay / Greater Manchester Police
The group attacked the vehicle with weapons by smashing the windscreen before continuing their hunt when within minutes they came across Kyle and his friend walking along Southlea Road.
His friend subsequently ran from the scene leaving Kyle alone with the entire incident being captured on CCTV.
One of those carrying out the chilling attack could be heard shouting loudly ‘chef him’ on four occasions, immediately before Kyle was brutally attacked with knives.
Lewis Ludford / Greater Manchester Police
The violent assault on Kyle continued by three of the four before returning to the waiting car which was driven away at speed by the other member of the group, leaving Kyle to collapse on a driveway where members of the public tried to save his life before emergency services responded to the scene.
Despite everyone’s best attempts, Kyle sadly died a short time later at hospital as a direct result of the catastrophic injuries inflicted on him.
Senior Investigating Officer, Detective Chief Inspector David Moores said: “This is another heart-breaking example of how carrying a knife can have devastating consequences in a matter of seconds.
Tafari Kosey-Smith / Greater Manchester Police
“Our thoughts as a force are once again with Kyle’s loved ones who will have to continue to live with the pain, but hopefully this can be eased in some way with the conviction of his killers.
“Officers in our Major Incident Team have worked tirelessly to bring justice, and, in our role, we are reminding any young person willing to carry a knife to put it down and think twice before doing so. It is not worth it and can ultimately cost yours and other people’s lives.”
Paying tribute to him around the time of the incident, Kyle’s family added: “We are devastated by the death of our beloved Kyle.
Alfie Benson / Greater Manchester Police
“He was such a kind and well-mannered young boy who always looked out for his family – never failing to say ‘love you’ as he walked out the door.
“There are no words that can even begin to describe the pain we feel. We have always been such a close family, and this has shattered us all.
“He will forever be missed as a beautiful son as well as a caring and helpful big brother, grandson, nephew, cousin, and friend. Life will never be the same without him, we are completely broken.”
If you know or suspect someone is carrying a knife, please report it immediately. Greater Manchester Police can be contacted via gmp.police.uk or 101. In an emergency, always dial 999.
According to a new study, people living in Manchester are spending more of their salary than Londoners on their monthly bills.
The study, conducted by Money Supermarket, calculated how much the average person in the UK spends on their household bills each day.
The data collected revealed residents in Manchester are typically spending nearly 80% of their income after tax on things like food, rent, bills and travel costs – found to be higher than anywhere else in the UK.
Filip Patock / Flickr
The results showed that those living in London were spending 66% of their income in comparison.
London is often labelled as the most expensive city to live in the UK but the study showed that Mancunians are actually using up a higher percentage of their income to live.
The research, which involved polling 2,000 people as well as taking information from Money Supermarket’s database, showed those living in Manchester spent £1,784.90 a month or £59.50 a day – which works out as £11 more than the average for the rest of the UK.
diamond geezer / Flickr
It also revealed that the northern city spends more on energy, phone contracts, car insurance and pet insurance than the rest of the country.
And Manchester is among the cities who pay the highest for broadband bills and school costs – including clothes and childcare.
It seems its residents also have the highest costs on things like toiletries, gym memberships, gaming and news subscriptions.
Londoners earn the highest average income of £30,302 with an average daily spend of around £55.72 on everyday essentials. Their higher income means people in London spend less on average on bills.
Ardfern / Wikimedia
Meanwhile, Mancunians earn around £28,158 but spend around 76% of their wage, leaving them with the lowest rate of disposable income.
According to the research, people living in Manchester spend more on the following than anywhere else in the UK:
Energy (£161.30 v £133.30 avg)
Phone contracts (£74.10 v £42.50 avg)
Car insurance (£49.20 v £39.10 avg)
Pet insurance (£25.20 v £14.40 avg)
Broadband (£69.20 v £54.50 avg)
School costs (including clothes and childcare) (£86.90 v £63.70 avg)
Greater Manchester Police have confirmed a man is due to appear in court charged with the murder of a mum from Gorton, as her family pay tribute to their beloved daughter.
Charlene Mills, 43, died following an incident in Hyde Road on Saturday, September 30th.
Officers were called to the address at around 11.20am after receiving reports regarding the concerns for the welfare of a woman.
Emergency services attended the scene, but Charlene sadly died. A 52-year-old man was arrested on suspicion of murder.
Greater Manchester Police
Peter Pitt, 52, of Hyde Road, Manchester, has been charged in connection with Charlene’s death.
Pitt is remanded in custody, due to appear at Manchester Magistrates Court today, (Monday October 2nd).
Yesterday, Charlene’s family paid tribute to her, saying she was ‘beautiful inside and out’.
Her family said: “We are so deeply saddened by the sudden loss of Charlene. She was beautiful inside and out and had a personality that would bring a smile to the faces of all that knew her, no matter what the situation.”
#CHARGED | A man has been charged in connection with the death of Charlene Mills on Saturday 30 September.
Peter Pitt, (22/12/1970), of Hyde Road, Manchester, has been charged with murder.
The tribute continued: “Charlene, or Char as we all knew her, was the most perfect daughter and big sister to Amber. She loved being a mum and idolised her son Rydell and dog, Boxer. “
“She was strong-willed, kind, and cheeky, overcoming so many obstacles in her life. The world just won’t be as fun without her, and our treasured memories of Char are the only little pieces of comfort we have.
“We are heartbroken and still coming to terms with this devastating news. We are extremely grateful for the messages of support and to those who have paid their respects by laying flowers.