Peel acquires Lowry Outlet Mall
The Peel Group has acquired the Lowry Outlet Mall at Salford Quays from Everson. Peel also owns the neighbouring MediaCityUK development.
As well as the 300,000 sq ft outlet centre, the deal includes a large multi-storey car park and a seven screen Vue cinema. The centre has 80 stores and occupiers include M & S Outlet for Furniture, Nike Factory Outlet, GAP Outlet and Flannels.
With just over 4.7 million visitors in 2011, the Lowry recently revealed that sales were up 11% year-on-year while footfall has increased by 14%.
John Whittaker, chairman of The Peel Group, said: "We are delighted to have secured a deal with Emerson for the purchase of The Lowry Outlet Mall. This is an important strategic acquisition for us and continues to extend the MediaCityUK community across the Quays from the BBC and ITV as well as the new tenants moving into MediaCityUK. The Mall complements MediaCityUK perfectly and will give us the opportunity to look at the most effective ways of increasing visitor numbers and enhancing the experience for customers".
Peter Jones, chairman of Emerson, said: "We wish the Peel Group every success with the Mall. In the years we have owned and managed the scheme we have seen it go from strength to strength and offer a wide and dynamic mixed-use offer to the Quays environment. I appreciate the business we have received and thank our loyal customers and tenants who have remained with the scheme through the 10 years the centre has been in our ownership."
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