Asset manager and developer Altered Space has been retained to continue managing Stanley Square in Sale following its acquisition by leading US-based alternative asset manager Magnetar, supported by operating partner Northdale Advisors.
Stanley Square, a 15,000 sq. m mixed-use destination in Sale, Greater Manchester, has been managed by Altered Space since 2019. The developer has overseen a full repositioning of the scheme, incorporating retail, leisure, commercial and childcare facilities, alongside a series of community-focused events. Under Altered Space’s stewardship, Stanley Square has delivered footfall growth of more than 10% over the last 12 months, continued high levels of occupancy and a significant improvement in income and value.
Michael Brown, co-founder of Altered Space, said: “Since 2019, we have actively repositioned Stanley Square as a resilient, mixed-use asset delivering both strong commercial returns and meaningful community impact.
“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.”
Altered Space, Magnetar and Northdale will collaborate on further opportunities to enhance Stanley Square’s offering through value-add initiatives, such as further managed office accommodation, cosmetic improvements to the internal mall and continued curation of the tenant mix.
Joseph Pedlow, partner at Northdale Advisors, said: “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, further strengthening the scheme’s leisure offering and cementing its role as a key community amenity. The asset is now fully let and benefits from a diverse tenant mix designed to meet the daily needs of locals as well as offer access to flagship retail and leisure destinations, helping to ensure sustained activity throughout the week.
Looking ahead, Altered Space is committed to ensuring Stanley Square remains a vibrant, resilient destination at the heart of Sale. Through ongoing investment, tenant diversification, and community-focused initiatives, the scheme will continue to drive footfall, support local businesses and enhance the town centre experience for residents and visitors alike.
The acquisition was completed in December 2025.
