Hannah Milne talks to Property Week
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THE CROWN ESTATE CONFIRMS PURCHASE OF FUTURE PHASES OF RUSHDEN LAKES
17th November 2017

NEWS

THE CROWN ESTATE SELL ALTRINCHAM RETAIL PARK

NEWS

03 November 2017

THE CROWN ESTATE SELL ALTRINCHAM RETAIL PARK

The Crown Estate has agreed the sale of Altrincham Retail Park in Greater Manchester to clients of Orchard Street Investment Management for £63.05m.

Altrincham Retail Park, that features a Pizza Hut and McDonald’s, benefits from excellent transport links being located three miles south of the M60 orbital motorway, while the property fronts onto the Manchester Road, A56, which provides direct access to Manchester city centre.

 

The Crown Estate, established by Act of Parliament, is not able to borrow, and as such, sales are an important part of raising capital for reinvestment across the business. Geoff Ford for The Crown Estate’s Regional Portfolio, said, “Altrincham Retail Park has performed well and helped us to build critical mass within the retail sector. As an actively traded portfolio, sales such as this one play an important role in helping to raise capital for reinvestment across the business, where we continue to deliver brilliant shopping and leisure destinations.” Tom Chadwick, Associate Partner at Orchard Street, commented, “We’re pleased to make this yield-accretive acquisition which presents immediate asset management opportunities to improve the WAULT and benefits from the affluent Altrincham catchment.”