The Peel Group has reached an agreement with the Emerson Group for the purchase of the Lowry Outlet Mall at Salford Quays. The financial details were not disclosed but Property Week put the investment volume at about £70 mln (EUR 89 mln).
The Peel Group has reached an agreement with the Emerson Group for the purchase of the Lowry Outlet Mall at Salford Quays. The financial details were not disclosed but Property Week put the investment volume at about £70 mln (EUR 89 mln).
The deal incorporates the Mall retail and leisure copmplex, as well as the car park. Peel also owns the neighbouring MediaCityUK development.
The Mall consists of more than 2,787 m2 retail and leisure, with 80 stores, a choice of cafes and restaurants, and a seven-screen Vue cinema. With just over 4.7 million visitors in 2011, the Lowry recently revealed that sales were up 11% year-on-year while footfall has increased 14%.
Occupiers include M & S Outlet for Furniture, Nike Factory Outlet, GAP Outlet and Flannels.
