Gloucester Quays shopping centre and cinema is up for sale

The premium shopping destination in the heart of Gloucester is up for sale, along with its cinema and potentially Gloucester Retail Park too.

One of the county’s most popular shopping destinations is up for sale.

The owner of Gloucester Quays, Peel L&P, confirmed it was ‘looking for an investor’ after it was reported by commercial property website, CoStar, that the centre is being marketed for £105 million.

It was also reported that Peel L&P – which owns the likes of the Trafford Centre in Manchester as well – would be looking for a joint deal to include Gloucester Retail Park on St Ann’s Road for an additional £20 million too.

Stephen Wild, executive director for Peel L&P said: ‘Gloucester Quays is a well-established place with an exceptionally diverse retail and leisure offering. We are currently looking for an investor to come on board and help take the centre to the next stage of its journey as a premier-choice, place-led destination in Gloucester.

‘Like any other retail and leisure offering in the UK, Gloucester Quays has faced challenges as a result of the pandemic and ensuing lockdowns, but it has weathered the storm well due to the quality and vibrancy of its customer proposition. The centre is trading well and since re-opening in April, has reported a 54% increase in average spend compared to 2019 figures.’

By Maddy Richards

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© SoGlos
Tuesday 13 July 2021

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