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.