Tameside Council acquires Arcades Shopping Centre

Tameside Council has completed the acquisition of the 140,000 sq ft Arcades Shopping Centre in Ashton-under-Lyne from Fairacre Property. This follows the council's May acquisition of the adjacent Ladysmith Shopping Centre from NewRiver REIT.

By bringing nearly 300,000 sq ft of retail space into public ownership, the council aims to gain greater control over the town centre's future. The move is part of a £1 billion regeneration strategy designed to reposition Ashton as a highly investable town. The plan includes creating opportunities for new leisure, cultural, residential, and workspace developments.

The shopping centres are located near the Grade II listed Ashton Town Hall, which is being transformed into a cultural hub, and overlook the newly renovated Ashton Market Square. Both centres will continue to trade as normal while the council develops its masterplan. The acquisition was supported by a loan from the Greater Manchester Combined Authority's Good Growth Fund.