Intu's Trafford Centre put up for sale

Intu’s Trafford Centre is reportedly going up for sale two months after it fell into administration.

PJT Partners and CBRE have been hired as the administrators to market Intu Trafford Centre, according to Sky News.

In a statement issued to Sky, a spokesperson for the joint administrators of Intu properties said: “All parties are working constructively together to maximise value for this highly attractive asset.”

The Trafford Centre was last valued publicly at close to 1.7 billion pounds by Intu. However, it is expected by analysts to be sold for at least 20 percent less than that sum due to the coronavirus' impact on the retail industry.

Intu has many well-known retailers in its 17 shopping centres where it experiences millions of tourists each year.

Intu said footfall across 13 of its shopping centres has been “steadily improving week-on-week” since stores were allowed to open on 15 June.

Photo credit: Intu Lakeside