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GC Asia
No bids for Trafford Centre as retail outlook darkens
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The Canada Pension Plan Investment Board (CPPIB) has taken over Manchester’s Trafford Centre after failing to find an alternative buyer. It chose to acquire the property after the collapse of shopping centre owner Intu.
The Canadian investor committed a £250m loan to Intu in 2017, secured against the shopping centre. Intu buckled under £5bn of debt in June, leaving the fate of its shopping centres, which often had separate debt silos secured on them, unclear.
In June 2020, Intu was placed ...Already a subscriber? Login
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