Trafford Council and Bruntwood Works have finalised a £50million property deal which the council is hoping will provide a huge boost to the borough’s economic regeneration.
Contracts have been exchanged on the joint venture, which will see the acquisition of Stretford Mall, and the Stamford Quarter Shopping Centre and Clarendon House in Altrincham, more than doubling Bruntwood Works’ retail and leisure portfolio.
The Stretford Mall purchase will act as a catalyst for further investment and regeneration of the town, while the acquisition of the Stamford Quarter will allow the award-winning Altrincham high street to continue to thrive.
Altrincham has been transformed in recent years and was named best in England in the Great British High Street Awards in 2018.
Now, Bruntwood Works is set to play an important part in the town’s next phase, adding Stamford Quarter and Clarendon House to its portfolio.
“Altrincham town centre is one of Greater Manchester’s biggest success stories in recent years, soaring in footfall, economic growth and consumer appeal, so we’re thrilled to be part of its journey,” said Bruntwood Works regional director Andrew Cooke.
“We have a long history of creating places, developing inspirational workspaces alongside flourishing retail destinations, and we have always sought to create incredible environments and communities in which our customers can grow.”
This announcement strengthens Trafford Council’s long-standing working relationship with the wider Bruntwood Group, with millions of pounds being invested in the borough’s town centres to date. Returns from the investment will be put back into frontline services for the council.
The joint venture between the council and Bruntwood is similar to what is already in place for the redevelopment of the former Kellogg’s site in Old Trafford into University Academy 92.
Cllr Andrew Western said: “This is fantastic news for Trafford. One of our aims is to create successful and thriving places in the borough, with a particular focus on our town centres and local communities, and this deal allows us to do this.
“Acquiring Stretford Mall will be a massive boost to the area and our residents, with the opportunity for comprehensive redevelopment to also include our Lacy Street site. I know residents have been calling out for more investment in the area and we are listening to them.”