Trafford Retail Park with an average rent of £17.17 psf across all units. Credit: UKCM

UKCM acquires Trafford Retail Park near Manchester for £33 million

14 September 2021: UK Commercial Property REIT Limited (“UKCM” or the “Company”), which owns a diversified portfolio of high-quality UK commercial property, announces that it has acquired Trafford Retail Park, near Manchester, from Peel L&P for £33 million.

Constructed in 1999, the c. 12-acre site comprises approximately 13,285 sq m of retail warehouse accommodation across fourteen units, ranging in size from 185 to 3250 sq m. The asset is currently 100% let to a range of retail tenants including Dunelm, B&M, TK Maxx and Home Bargains. It also provides a strong food and beverage offering that includes Nando’s, Pizza Hut, McDonalds, and the recently completed Five Guys letting.

Trafford Retail Park is well located in the heart of Traffordcity, one of the UK’s leading retail and leisure destinations, and benefits from high traffic and footfall, attracting 2.5 million visitors per year, also due to its significant catchment area. Its position on junction 10 of the M60 and substantial food and beverage offering means it also provides a quasi-motorway service station function.

Kerri Hunter, Fund Manager at UKCM, commented: “This deal presents us with an opportunity to strengthen our portfolio and enhance income through the acquisition of a well-located retail park with a high-quality tenant base and impressive footfall in one of the UK’s premier shopping and leisure destinations. While some parts of the retail sector have struggled in recent years, Trafford Retail Park is primarily let to discount focused and convenience led retailers, which have proven resilient and continue to perform well. As a diversified REIT, we benefit from the ability to look for assets across a range of sectors that offer accretive returns, enabling us to deliver value and income to our investors.”

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

BIG Shopping Center raised 55 million euros at the Israeli stock exchange for further expansion in Serbia and the Balkans

The BIG Group intends to use the proceeds from this bond issue to continue its expansion in Serbia and in the Balkan region.

Neinver appoints Joan Rouras as new Head of Leasing and Retail

Rouras benefits from more than 20 years of international experience in the retail industry in Europe, Asia and America.

Ingka Investments brings IKEA to the heart of Oxford Street with €446 million retail property acquisition

The investment supports the transformation of Ingka Group’s retail business, bringing IKEA closer to customers by opening new store formats in city locations, in response to increasing urbanization and new shopping behaviors.

Nivy Center revitalizing Bratislava’s city life

Bratislava’s residents are already referring to Nivy as the "downtown" or even "Manhattan".

URW cooperates with Sheltersuit to support the homeless in 15 German cities

Unibail-Rodamco-Westfield (URW) Germany, together with the Dutch Sheltersuit Foundation and local aid organizations, is launching a support initiative for homeless people in 15 German cities.

La Torre Outlet Zaragoza in Spain celebrates its first anniversary

La Torre Outlet Zaragoza celebrated one year open to the public and to commemorate the special date, numerous activities and musical shows were announced that will take place until November 6.