The Crown Estate confirms sale of Altrincham Retail Park

We have agreed the sale of Altrincham Retail Park to clients of Orchard Street Investment Management for £63.05m. 

26 October 2017

Altrincham Retail Park 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 town of Altrincham is also well served by public transportation, with the recently developed Altrincham Interchange providing a bus station, railway station and Metrolink stop.

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 Retail 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.”

The Crown Estate’s Regional Retail portfolio, comprising 14 regional retail parks, three shopping centres and one leisure destination, is focused on delivering development and asset management activity across prime, dominant assets, including:

  • Westgate, Oxford, where we've partnered with Landsec to develop 800,000 sq ft of world-class retail and leisure, launched in October 2017. 
  • Fosse, Leicester, where we’re committing £135m through the Fosse Partnership to develop the adjacent Castle Acres site, creating 288,000 sq ft of additional retail and restaurant space. 
  • Rushden Lakes, a ground-breaking shopping and leisure development in Northamptonshire which launched in July 2017.  The scheme comprises 230,000 sq ft of retail anchored by House of Fraser, M&S and Primark in a unique location adjacent to over 200 acres of SSSI nature reserve.