Adhan Group subsidiary AG Retail buys Middleton Shopping Centre

‘This sort of shopping centre is our bread and butter really’

Middleton Shopping Centre is under new management after a sale was confirmed on Friday.

Middleton’s main shopping complex was put up for sale last month with an asking price of £8.5m. AG Retail – a subsidiary of the Adhan Group – are the purchasers of the site for an undisclosed fee.

The giant shopping centre comprises 324,078 sq ft of retail space across 87 units, supported by a 430‐space multi‐storey car park.

The new owners’ main priority is to get the shopping centre full again and sorting some building works for new retailers coming in.

Following weeks of rumours locally, it has been confirmed that retailer BOYES will move into the closed down Wilko store in the shopping centre. Jon-Paul Hardman, the asset manager speaking on behalf of AG Retail, added that B&M will move into the Poundstretcher store.

He added that Poundstretcher and TG Jones in the shopping centre may not leave entirely though following their recent financial troubles.

Mr Hardman said: “We tried to buy Middleton Shopping Centre three years ago but we were unsuccessful. It works for our retail model.

“This sort of shopping centre is our bread and butter really. Our first priority is to fill the centre again, that is the main plan.”

The Adhan Group is one of the largest retail owners in the north west, with a large portfolio of shopping centres. They run Golden Square Shopping Centre in Warrington, The Mall Blackburn, Belle Vale in Liverpool and Rochdale Exchange Shopping Centre – to name just a few.

According to Knight Frank, who put the shopping centre on the market, it has an annual footfall of around four million people. The estate agents added that it has a gross income of £2,332,168 per annum and an annual net income of £995,719.

This is happening at an exciting time for the town, with the Metrolink tram service planned for the area as part of a wider investment strategy – the Middleton Development Corporation.

This forms part of the overarching Northern Gateway scheme, bringing with it 20,000 jobs, Metrolink to Middleton, 1,200,000 square metres of employment floorspace, 3,000 new homes and better public areas, roads and pathways.

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