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REVEALED: Trafford Centre Now Worth A Whopping £2.2bn
Shopping centre is worth £300m more than last year - an increase of 16% from 2013
INTU - the owner of Trafford Centre and some of the UK's largest shopping centres - has valued the Trafford Centre at a hefty £2.2bn.
The value of Manchester Arndale also jumped, from £399m in 2013 to £430m in 2014.
The valuation for the 2m sq ft shopping and leisure complex - which offers 233 stores and has an annual footfall of over 30m - is up £300m on last year (an increase of 16%).
Occupancy rates at the Trafford Centre are currently 95%, with headline rent now £425 per sq ft, the centre is generating nearly £90m in rent per year.
The Trafford Centre - the UK's largest inner-city shopping centre - is Intu's best performing centre anywhere.
Trafford Centre
Intu - which also owns 48% of Manchester Arndale - reported revenues of nearly £536m for 2014, up £25m from 2013. Total profits for the year reached £600m, up £236m on 2013.
The value of Manchester Arndale also jumped, from £399m in 2013 to £430m in 2014 (an increase of 7%).
Arndale Centre
"Intu's improved 2014 results demonstrate we are well positioned to benefit further from rising consumer confidence and strengthening demand from retailers for quality space," said Intu's Chief Executive David Fischel.
"As the UK's leading owner and manager of prime regional shopping centres, we welcome over 400million customer visits through our centres each year and our clear focus on delivering outstanding customer experience under the intu brand is proving a powerful factor in the successful performance of our centres.
"Following excellent acquisitions both in the UK and Spain in the last few years, we also look to the organic growth opportunity from driving forward our £1.9 billion development programme."
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REVEALED: Trafford Centre Now Worth A Whopping £2.2bn? I'm assuming that because it's been [professionally] valued it's up for sale? China or Russia perhaps?
I am presuming that all revenues from this go to Trafford Council.Surely like the Airport the wealth generated from this should be shared by all the councils of GM. I hope our new Mayor redraws the boundaries so that council tax is more evenly spread throughout the conurbation. It is ludicrous that places North of the Mersey like Urmston,Stretford and Davyhulme,plus the Heatons,Failsworth,Middleton,Droylsden etc are not in either Salford or Manchester. Anywhere with M postcodes should be in one or the other. Trafford is the greediest council in the land. How on earth can Old Trafford not be in Manchester the home of Manchester United. Not only do they have the majority of the wealthiest parts of GM but the border stretches to Hulme and to be fair Bury isn't much better. There is a conspiracy by politicians in Westminster to keep Salford and Manchester poor.
What the hell are talking about? It's hardly Trafford Council's fault that United decided to locate their stadium outside Manchester, is it? And no, Trafford Council do not receive any of the revenue from the Trafford Centre, because the centre and the shops are privately owned and run. Your comments are quite bonkers, you sound totally out of touch with reality.
Your argument is so full of holes, Anon, that its difficult to know where to start. The various councils of GM gain revenue from Manchester Airport because they part-own it. The same is not true of the Trafford Centre or Old Trafford. The boundaries are irrelevant (and the Mayor is not going to have powers to redraw them as he/she wishes).
I think that you will find that putting places with M postcodes in either Manchester or Salford was highlighted by the Manchester evening news. The current ridiculous boundaries keep Manchester artificially small. This is why Manchester has so little money to spend. With the exception of Didsbury and a bit of Chorlton the city of Manchester does not have one wealthy area. In any direction out of the city you go once the areas become more affluent you are no longer in Manchester. Alkrington is in Rochdale,Prestwich is in Bury,Audenshaw is in Tameside,the Heatons Stockport,Urmston in Trafford. Does anyone know why this is? Was it a plan to keep the city poor.
Pretty sure MUFC built their stadium in the town of Stretford. It was the Goverment who moved it into Trafford.
Thank goodness for internet shopping so I never have to go to these awful places.
Misery.
www.manchesterconfidential.co.uk/…/REVEALED-Trafford-Centre-Now-Worth-A-Whopping-22bn…