The Trafford Centre, Britain's fourth-biggest shopping centre, is being put up for sale less than two months after its parent company, intu, collapsed into administration.
The company has appointed PJT Partners, the investment bank, and the property agent CBRE to market the site.
The Trafford Centre was last valued publicly by Intu at close to £1.7bn, but is expected by analysts to be sold for at least 20% less than this sum - if a buyer can be found at an attractive price.
A spokesperson for the joint administrators told Sky News: "All parties are working constructively together to maximise value for this highly attractive asset."
The 2.2 million sq ft shopping mall in Trafford was built in the late 1990s by regional landowner the Peel Group and opened to the public in 1998.
In 2011, Peel sold the Trafford Centre to Capital Shopping Centres, which later rebranded as intu Properties, for £1.6bn – one of the largest real estate acquisitions in British history.
Peel has been rumoured to be interested in buying back the property for a few years but declined to comment to any media outlet on any potential future acquisition.
The company has continued to operate its' shopping centres, despite appointing administrators. The surprising sale of Manchester's Trafford Centre is the first property to be listed for sale, with the property serving as company's biggest asset.