Connect with us
https://propermanchester.com.temp.link/wp-content/uploads/2019/11/secret-suppers-advert.jpg

News

What’s next for the Trafford Centre as it goes up for auction

Everything you need to know…

Alex Watson

Published

on

Seth Whales

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.

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Supermarkets are reintroducing limits on some products to stop panic buying

Just in…

Alex Watson

Published

on

John Cameron & Wesley Tingey/Unsplash

Rationing on essential items in supermarkets has begun again. 

In attempts to avoid a part two of the Lockdown Toilet Roll Fiasco we’re all still mentally scarred from, some supermarkets have reintroduced rationing on a number of products in England. 

Tesco is now limiting purchasing on flour, dried pasta, toilet roll, baby wipes and anti-bacterial wipes to a maximum of three per customer.

There are additional limits on items such as rice and tinned goods online. 

Erik Mclean/Unsplash

A spokesperson for Tesco told Mirror Money: “We have good availability, with plenty of stock to go round, and we would encourage our customers to shop as normal.

“To ensure that everyone can keep buying what they need, we have introduced bulk-buy limits on a small number of products.”

Morrisons became the first of the supermarket chains to reinstate rationing earlier this week, placing a purchase limit of three on essentials.

Toilet roll, hand sanitiser, soap, most cleaning products, kitchen roll and Calpol all currently have purchase limits on them. 

Aldi’s chief executive has also released a statement to customers stating: “There is no need to buy more than you usually would. I would like to reassure you that our stores remain fully stocked and ask that you continue to shop considerately.”

Head of Retail at the law firm Gordons, Andy Brian, told the Guardian: “Hopefully, shoppers will adopt a calmer approach than earlier in the year, and continue to shop as normal.”

Continue Reading

News

Blackpool Zoo celebrates after endangered species is born there

So cute!

Alex Watson

Published

on

Blackpool Zoo

Blackpool Zoo is celebrating the birth of a baby Gibbon – one of Europe’s second-largest group of endangered species. 

Gibbons are usually found in the tropical forests of Southeast Asia, however, a paired-for-life duo living at Blackpool Zoo are keeping the population alive as the only two breeding pairs found at the zoo. Gibbons also only breed every two or three years so this is extra amazing news for the species! 

The clearing of vast amounts of trees for farming or replantation of commercial plants has caused problems for many of Asia’s primates, including Pileated Gibbons. 

Parents Ivy and Chamoa welcomed the new arrival in August making them a happy family of five.

Keepers are hoping for a girl, however, it’s not yet known the sex of the baby Gibbon.

Blackpool Zoo

Charlotte Pennie, Senior Primate Keeper at Blackpool Zoo, said: “Ivy is doing a fantastic job of caring for the youngster, which she will carry on her chest for around six months before it starts to explore its surroundings.

She added: “Ivy is 31 and has been with us for 26 years. We almost lost her ten years ago when she became very ill, so for her to recover and go onto have three healthy babies is just wonderful.”

Gibbons form monogamous breeding pairs and have a diet consisting of sweet fruits, leaves, flowers and insects. At Blackpool Zoo they also get carrots, seeds, fruit and vegetables with rice, boiled eggs and cheese as treats.

Find out more about Gibbons at Blackpool Zoo here

 

Continue Reading

News

Local chef raises £35,000 after his food truck is burned down in ‘racist attack’

This is disgusting.

Alex Watson

Published

on

mostonsuya/Instagram

A huge fundraiser has been launched to help David Kamson get his food truck back following a ‘racist’ arson attack.

Jolus Lutete, who has never met David, set up a GoFundMe account to raise money so David can get a new van following the horrific attack.

David Olalekan Kamson shared the story on Instagram, saying he’d suffered racist attacks from a man in his local neighbourhood in Moston.

According to David, the man originally stole his van – which David operates Moston Suya from – a few weeks ago, causing more than £5,000 in damages before the police located it. 

View this post on Instagram

I am a Descendant of Noble Kings .. I Humble myself and Serve My Community … I worked Hard 3 years 9 months.. I saved money .. no social – bought a catering Trailer for £3000 pounds Spent £438 pounds to bring down from Canterbury Kent to Manchester . So I can serve food in a decent In a decent environment for my community. Some Racist Thief in Moston Named Craig Don’t like the idea of a Black Man Doing Such Business in Moston So he stole the Catering trailer .. sold equipments over £5000 and damage the inside for Fun One Month Later it was found with Him in Blackley Charles town Road Police tried to arrest him , he lied he bought it and couldn’t provide any proof who sold it to him .. He was not charged or disturbed I see him around and I just ignore him I’m a community Lad … known for Huslte and funny vibes 2 days ago on Hartley street this same Craig guy drove pass me and say to me fucking black immigrants come in Moston to do business like they own it.. he went ahead to tell me that trailer should have been his and his boys eyes are on it That was 2 days ago This morning I woke up late at about 10am and I went into the post office where the cashier was telling me oh my God what happened to your trailer , I said nothing is wrong with it it’s fine .. the council loves it and I have just fixed it back and bought back tools in it … He screen nooooo , it’s burnt down to ashes .. I said no , maybe people burn things beside it He said no , I didn’t even mind him because I started laughing So I went to check on £3000 trailer with £2200 worth of equipment Gone in ashes with some things missing … which means it was robbed before burnt This Act of Hate should not be allowed in Moston . This is hateful and sad … All the kids that gets chicken from me , all the street homeless and beggars I give food to Most are not black , I have no colour black or white … I am a community man and should be treated as one , I kept trying to feed myself and shelter my soul .. Someone is hating in Corner I leave this to God , That trailer was God’s gift to me to get out of Hunger . Somebody burn it . #SayNotoRacism

A post shared by Moston Suya (@mostonsuya) on

The police attempted to arrest the man, but said they didn’t have ‘good enough reasons’ to why the van was in his possession so couldn’t.

Unfortunately, that wasn’t the end of it.

Two days ago, on September 21st, ‘the man in question drove past David hurling racial abuse and stating that David and immigrants have no business building businesses in his area’. 

On September 23rd, David found his fan to be subject of an arson attack, leaving him not only heartbroken but his business literally in ashes. 

mostonsuya/Instagram

In the Instagram post, David wrote: “I am a Descendant of Noble Kings .. I Humble myself and Serve My Community … I worked Hard 3 years 9 months.. I saved money .. no social – bought a catering Trailer for £3000 pounds.

“Spent £438 pounds to bring down from Canterbury Kent to Manchester . So I can serve food in a decent In a decent environment for my community.

“Some Racist Thief in Moston Named Craig Don’t like the idea of a Black Man Doing Such Business in Moston.

“So he stole the Catering trailer .. sold equipments over £5000 and damage the inside for Fun.

“One Month Later it was found with Him in Blackley Charles town Road.

“Police tried to arrest him , he lied he bought it and couldn’t provide any proof who sold it to him ..

“He was not charged or disturbed.

“I see him around and I just ignore him.

“I’m a community Lad … known for Hustle and funny vibes.

“2 days ago on Hartley street this same Craig guy drove pass me and say to me fucking black immigrants come in Moston to do business like they own it.. he went ahead to tell me that trailer should have been his and his boys eyes are on it.

“That was 2 days ago.

“This morning I woke up late at about 10am and I went into the post office where the cashier was telling me oh my God what happened to your trailer , I said nothing is wrong with it it’s fine .. the council loves it and I have just fixed it back and bought back tools in it …

“He screen nooooo , it’s burnt down to ashes .. I said no , maybe people burn things beside it

“He said no , I didn’t even mind him because I started laughing.

“So I went to check on £3000 trailer with £2200 worth of equipment Gone in ashes with some things missing … which means it was robbed before burnt.

“This Act of Hate should not be allowed in Moston . This is hateful and sad … All the kids that gets chicken from me , all the street homeless and beggars I give food to Most are not black , I have no colour black or white … I am a community man and should be treated as one , I kept trying to feed myself and shelter my soul .. Someone is hating in Corner.

“I leave this to God , That trailer was God’s gift to me to get out of Hunger . Somebody burn it. #SayNotoRacism

You can donate here

Continue Reading

Receive our latest news, events & unique stories

Privacy and data policy

We may earn a commission when you use one of our links to make a purchase

Copyright © 2019 Proper Manchester