Liverpool’s Metquarter Acquired By Irish Investors Following a successful 18-month launch period, Milligan is today announcing the sale of Metquarter to Anglo Irish Bank Private Banking and Alanis Capital.
Metquarter, created by Milligan, in association with Richardson Developments, opened in Liverpool city centre in March 2006. Metquarter is a trail-blazing shopping centre which integrates art, innovative design and leading fashion and lifestyle brands, including M.A.C, A/X Armani Exchange, Hobbs, Diesel, All Saints, Miss Sixty and Flannels. 39 of the 40 stores now open in Metquarter have opened in Liverpool for the first time; recognising that Metquarter is the ideal home for premium brands. Following the sale, Milligan will continue to work on the marketing with the new owners of Metquarter in order to maintain the strong brand that the centre has established.
John Milligan says:
‘Developing and opening Metquarter in Liverpool has been a fantastic experience and I’m looking forward to seeing Liverpool and the centre continuing to develop over the next few years. The decision to sell has not been an easy one for us, as we’ve collaborated closely with so many partners in Liverpool. With this in mind, I’m very keen that Milligan maintains its connection to this great city in the coming years.’
Liverpool is European Capital of Culture in 2008 and there is significant excitement and investment occurring in the city. Metquarter has been a key driver in the regeneration and repositioning of the city centre. Milligan will continue to look for opportunities throughout the North West following on from the success of Metquarter and experience of working throughout the region, including with Triangle in Manchester and retail redevelopment at Manchester Airport.
In addition to projects in the UK, Milligan is also developing several exciting European retail projects in Spain and Portugal.
NOTES TO EDITORS
Former Jones Lang LaSalle international director, John Milligan, set up Milligan, a retail development and asset management specialist, in March 2002. Every place it creates is a one-off. Each is designed and created by focusing on the wants and desires of the people, who will visit, use and enjoy the space. By concentrating exclusively on the consumer, Milligan achieves the sales that retailers crave and the returns that investors want.
Milligan is backed by J.W. Kaempfer and Richardson Developments.
JW Kaempfer is the Chairman of London based McArthur Glen, Europe’s largest developer owner and manager of designer outlets centres.
Richardson Developments have an extensive track record of developing commercial property throughout Europe. Retail developments include Merry Hill, Fort Retail Parks in Birmingham, York and Edinburgh. Richardson Developments have recently successfully opened Westwood Cross in Kent and Ropewalk Shopping Centre in Nuneaton.
Stockford Staunton acted for us on the sale of Metquarter