Trinity Walk Wakefield - latest on multi-million deal

Shoppers at Trinity Walk, Wakefield
Shoppers at Trinity Walk, Wakefield

The global finance company behind Wakefield’s Trinity Walk shopping centre could be set to sell its stake in the development in a multi-million pound deal.

The Express understands that Ares, which is one of three firms that owns Trinity Walk, is in talks to sell its interest in the centre.

A specialist property website also reported today that another company, Orion Capital Managers, was trying to buy Trinity Walk for £160m.

A Trinity Walk spokeswoman could not confirm the £160m figure, but said talks were being held on a deal which could bring new investment to the centre.

She said: “A number of options are being considered, which could result in the current funding partner, Ares Capital Management, disposing of its interest in Trinity Walk.”

The 500,000 sq ft centre opened four years ago and has 60 occupants including Debenhams, Sainsbury’s and Asda Living.

Ares is the funding partner of Trinity Walk, which it owns as part of a consortium with Sovereign Land and Shepherd Construction through their joint venture company Trinity Walk Limited Partnership.

The spokeswoman added: “Sovereign Land, which has led the development and is responsible for THE day to day management and operation of the centre, will remain involved and has big plans for the future.”

Ares Capital Management, which has offices in Europe, Asia, America and Australia, said it did not talk to the press. Orion Capital Managers declined to comment.