Redman Heenan Properties, the investment subsidiary of St Modwen Properties PLC, has agreed to sell the larger part of its 11,148 sq m (120,000 sq ft) retail development at North City Shopping Centre, Harpurhey, Manchester, to an undisclosed overseas buyer.
More than £17 million has been invested in the regeneration of the former Harpurhey District Centre by Redman Heenan in partnership with Manchester City Council and Asda who trade from a 6,503 sq m (70,000 sq ft ) food store at North City.
Redman Heenan is selling a long lease of the newly constructed retail units which are fully let to 17 tenants including Wilkinsons, Ethel Austin, Specsavers and Gala Bingo.
Redman Heenan has constructed a new indoor market, a leisure centre and reconfigured the car parks and the malls in addition to the new retail floorspace. The company will retain ownership of, and responsibility for the management of the centre which will be managed by a dedicated on-site team.
A planning application for an additional 432 sq m (4,650 sq ft) of retail floorspace and 966 sq m (10,400 sq ft) of offices is currently being considered by Manchester City Council and, subject to approval, a start on the next phase of development will be made shortly.
For further information contact Paul Batho of St Modwen on 01925 825950.
Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).