US hedge fund Magnetar has acquired Stanley Square shopping centre in Sale, Greater Manchester, for an undisclosed sum.
Stanley Square, Sale
The 160,000 sq ft retail and leisure scheme has been managed by Altered Space since 2019. The asset manager and developer has since overseen a full repositioning of the centre, incorporating retail, leisure, commercial and childcare facilities.
Footfall at Stanley Square has grown by more than 10% over the last 12 months, said Altered Space, which has been retained to continue managing the asset alongside Magnetar’s operating partner Northdale Advisors.
“Our continued role with Northdale allows us to build on this foundation and unlock the next phase of growth, evolving the scheme and driving long-term performance,” said Michael Brown, co-founder of Altered Space.
Magnetar, which was supported by Northdale Advisors on the deal, is based in Illinois and has more than $22bn (£16bn) of assets under management.
Joseph Pedlow, partner at Northdale Advisors, added: “Stanley Square is a well-established town centre asset with strong fundamentals, and we see clear opportunities to enhance both its value and its role in the community.
“Altered Space’s proven ability to reposition and activate the scheme made their continued involvement a key strategic choice, allowing us to build on their success and deliver sustainable growth.”
Recent milestones at Stanley Square include the opening of a new 19,000 sq ft PureGym unit in December 2025 and a boutique cinema earlier in the year.
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