CPP names Pradera as Trafford Centre asset manager
Canada’s CPP Investments has appointed Pradera Lateral as asset manager of the 1.9m sq ft Trafford Centre in Manchester, after a competitive process.
The centre is the UK’s third largest regional shopping centre by area, and is anchored by Selfridges, John Lewis and Marks & Spencer. CPP became its owner in December after intu fell into administration last year.
Savills is the property manager for the centre.
Canada’s CPP Investments has appointed Pradera Lateral as asset manager of the 1.9m sq ft Trafford Centre in Manchester, after a competitive process.
The centre is the UK’s third largest regional shopping centre by area, and is anchored by Selfridges, John Lewis and Marks & Spencer. CPP became its owner in December after intu fell into administration last year.
Savills is the property manager for the centre.
Fraser Pearce, director of Trafford Centre Group UK, said Pradera Lateral was chosen for its experience in UK asset management as well as its “strong” global retail experience.
Pearce said its mandate will be to “both stabilise the centre during the ongoing reopening in 2021 as well as restore The Trafford Centre as a leading UK retail and leisure destination”.
Colin Campbell, chairman of Pradera Lateral, said: “We are looking forward to designing and delivering a successful future for The Trafford Centre, with our immediate priorities being to help support brands through the reopening and to welcome back our customers to this very popular retail and leisure destination.”
Pradera staffs a team of 35 in the UK, based in London. It has two other offices in Harrogate and Manchester, which will combine and relocate to The Trafford Centre.
The firm and its other group companies manage a retail property portfolio of more than £3.5bn, comprising 58 assets including large shopping centres in cities including Chongqing, Shanghai, Istanbul and Turin.
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