Halton Lea shopping centre on the market
Savills has been appointed to sell the Halton Lea shopping centre in Runcorn, almost a year since the mall went into receivership after its owners got into difficulties over the mortgage on the retail property. The guide price is £27.8m. Morgan Stanley acquired the centre in 2009 from Arkminster, a subsidiary of Fordgate (City) which was ultimately controlled by The Gertner Family Trust, and it appointed Savills as receiver at that time.
Savills said the centre had continued to trade successfully and that several new initiatives had also been started in the meantime. The mall’s website, which states that the centre comprises 545,082 sq ft across 70 stores and eight restaurants/cafes, says visitor numbers have remained consistent year-on-year since it has been under Morgan Stanley’s ownership. Last year the centre attracted more than 16 million visitors.
Savills director Mark Garmon-Jones told Property Week that the firm had undertaken asset management to improve the centre, and added: “With the potential for a 85,000 sq ft food store, this presents further asset management and income growth opportunities.”
