Manchester news Trafford Centre bosses that few have heard of - and that's how they like it Manchester united news

PremierLeague-News.Com - Pradera Lateral have won a 'competitive' selection process to be appointed asset manager

Manchester news Trafford Centre bosses that few have heard of - and that's how they like it Manchester united news

PremierLeague-News.Com - Pradera Lateral have won a 'competitive' selection process to be appointed asset manager

Manchester news  Trafford Centre bosses that few have heard of - and that's how they like it Manchester united news
13 May 2021 - 06:31

PremierLeague-News.Com - Breaking Sport Transfer News ! The Trafford Centre has new management in place following the collapse of Intu last year - and they are 'very confident' in its future. Pradera Lateral is a joint venture formed at the end of 2020 between shopping centre management specialist Pradera Limited and developer Lateral Property. And the Trafford Centre's owners, Canadian pension fund CPPIB, say they won a 'competitive' selection process to be the new asset manager. Industry insiders had tipped Westfield - the company which runs the mega shopping centre in Stratford, London - to get the nod. Although the company has been managing shopping centres in Europe and China for more than 20 years, Pradera is little known in the UK. Other than the Trafford Centre, its only other current management mandates are retail parks in Dunstable, Bedfordshire, and Yeovil, Somerset. In an interview with he Manchester Evening News, chairman Colin Campbell conceded Pradera is 'under the radar' in the UK, but that this suits his company. Shoppers queue in the rain on Bank Holiday Monday Sign up to the free MEN email newsletter Get the latest updates from across Greater Manchester direct to your inbox with the free MEN newsletter You can sign up very simply by following the instructions here "We're well-known in our little niche of the real estate industry, particularly abroad actually, but we're not a household name and that suits us fine," he said. "We're not like Westfield which brands its centres Westfield. "We're not like Arndale, which of course was the name of a developer 60 years ago, if not more. "We get on with our job in a discrete way but we're well-known in our industry. "Having spotted what was going on in the shopping centre industry in Britain, we formed the joint venture with Lateral at the end of last year." (Image: Adam Vaughan) "This is our first big mandate - coming from experience in cities as diverse as Chongqing, Shanghai, Istanbul and Turin on the one hand, and the UK on the other through the Lateral side." Lateral Property Group, based in Harrogate, is behind plans to build a huge new shopping centre off the M62 in Yorkshire. Our sister title LeedsLive first revealed plans for the centre - known as Axiom - in February 2018 and work was expected to start that summer. But since then there has been little activity at the site and few updates on progress. (Image: LeedsLive) In the most recent Facebook post from March 2019, it was claimed that big brands including M&S, Primark, Next and Boots had signed up to the project. Mr Campbell, 65, told the M.E.N that Axiom is still going to happen and will be the 'future of retail'. "It's very much still happening, probably a bit delayed," he said. "There's a fairly large pandemic that's got in the way." There has been little activity at the site of the proposed shopping centre off the M62 in Yorkshire (Image: LeedsLive) "We'll certainly have an involvement in it. "Lateral are, and will be, the developer, but [Pradera] will certainly have an involvement with it. "It's brand new, it's the future of retail but delayed by covid." High street retailers have been hit hard by the coronavirus pandemic (Image: Vincent Cole Manchester Evening News) The pandemic has ravaged High Street retailers who were already struggling with consumer habits switching towards online.

News source = PremierLeague-News.Com

. And he expressed confidence that Pradera Lateral will be able to find suitable tenants. "Shopping centre asset management is a specialist discipline in its own right, so our principle job is firstly to keep the centre fully occupied with a diverse, interesting, exciting range of tenants, that are of an interest to shoppers in the local community," he said. All Debenhams stores will be closed by May 15 following falling profits and rising debts (Image: Getty Images) "That's very clearly job number one. "With the administration of Debenhams and the Arcadia group there's some quite big vacancies to fill in the short term and we're working on that flat out to come up with some good ideas that will be of interest to the shoppers at the Trafford Centre. "I certainly think there's demand for the traditional model from retailers, and there are definitley retailers who would be interested. "You have to bear in mind, we're talking about the Trafford Centre here, and not an overlarge shopping centre in a small country town somewhere in rural England. "It's the third largest shopping centre by area in Great Britain it has a vast number of visitors in a normal year and without question there are retailers who would be interested in leasing that space. " Shoppers at the Trafford Centre (Image: MEN MEDIA) Industry experts have speculated that large shopping centres like the Trafford Centre will have to pivot to strategies beyond retail such as leisure attractions. At the Arndale in Manchester city centre, several large units have been taken by 'competitive socialising' brands where punters come to enjoy games such as darts or table tennis as well as food and drink. "There are options that go beyond retail into leisure and entertainment, so we're very confident of being able to fill the space well and in and interesting way," Mr Campbell said. "Part of shopping centre manaegment is to have attractions, in the broadest sense, that mean people want to come to the centre from first thing in the morning till closing time. "That means a range of activities, some of which will be pure retail, some of which wil lbe food and beverage, some of which will be more leisure orientated and some will be a mixture of both. "Certainly competitive socialising fits in the bit of both category because there's typically a sporting activity or gaming activity and then some food and beverage as well." Mr Campbell predicted a bright future for the Trafford Centre (Image: Publicity Picture) "That very much fits with what we want to do with the centre as part of just making an interesting place to come to from opening time to closing time. " The Trafford Centre was famously the brainchild of Bury businessman John Whittaker who gave it many of its best-known features, from the Romanesque architecture and statues, to the parking of his beloved mother's Mercedes car outside F.Hinds jewellers on the first floor. Asked if Pradera Lateral would like to put their own stamp on the shopping centre, Mr Campbell said: "No we're very much managers, rather than developers in the sense of Mr Whittaker, but secondly, I think, there is something wonderful snd unique about the architecture and I, for one, value that very highly. "It's 23 years old, but the wonderful thing about the Trafford Centre is that the basic structure and design is still very relevant today. "It's got wonderful architecture, masses of land surrounding it for plentiful free car parking and so on. "So the basic building and layout is just fine and certainly doesn't need any change." Despite the doom and gloom surrounding retail, Mr Campbell predicts a bright future for the Trafford Centre and retail in general. "I'm very confident that shoppers will see some exciting new tenants coming, an increase in the size of the stores for the more popualr tenants, and we're certainly planning various events at the centre over the summer which we very much hope the shoppers will enjoy," he added. "We're very conscious it's a been a bit of a difficult last few years with Intu's ever-increasing difficulties. "So we're delighted to be in a position to help give [the Trafford Centre] a fresh start." Read More Related Articles £250k Ferrari smashed up in city centre crash as police appeal for video footage Read More Related Articles Steven McMyler 'was killed just because of his £11,000 Rolex' as police pay tribute to his family

Source = PremierLeague-News.Com

This news 17 hits received.

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Sport news  Neal Maupay had to be dragged away by team-mates after calling referee Jon Moss a 'f****** joke' as FA report reveals tirade of abuse hurled at match officials by Brighton forward following red card at Wolves Premierleague-News.com
Sport news Neal Maupay had to be dragged away by team-mates after...
Uk News  Earl Spencer "draws a line" between Martin Bashir's interview with Princess Diana and her death United Kingdom news
Uk News Earl Spencer "draws a line" between Martin...