The Trafford Centre has appointed Pradera Lateral as asset manager with immediate effect, following a competitive selection process.
The Trafford Centre comprises around 1.9 million sq ft of gross leasable area, making it the third largest regional shopping centre in the UK by area.
Fraser Pearce, director of Trafford Centre Group (UK) Limited said: “Our appointment of Pradera Lateral as asset manager of The Trafford Centre marks a major step forward for the Northwest’s leading retail and leisure destination. Pradera Lateral were selected as asset manager for their experience in UK asset management as well as strong global retail experience. They have a mandate to both stabilise the centre during the ongoing reopening in 2021 as well as restore The Trafford Centre as a leading UK retail and leisure destination.”
Colin Campbell, Chairman of Pradera Lateral, said: “We are delighted to have been selected to work as asset manager of The Trafford Centre alongside CPP Investments. We are looking forward to designing and delivering a successful future for The Trafford Centre, with our immediate priorities being to help support brands through the re-opening and to welcome back our customers to this very popular retail and leisure destination.”
Savills were appointed property manager for The Trafford Centre in August 2020 and will continue in that role.
CPP Investments became the owner of The Trafford Centre in December 2020 following the administration of Intu Properties plc in June 2020.
