UK property investor and developer Edinburgh House has been appointed to manage two UK shopping centres placed into receivership by Bank of Ireland, bringing its portfolio of shopping centres under management to six.

The London-based company has been appointed to asset-manage the Market Place in Blackwood, Gwent, which is anchored by Boots, Iceland and Peacocks. It has also been instructed to manage the Pendle Rise shopping centre in Nelson, Lancashire, anchored by Wilkinsons, Specsavers and Boots.

Other major instructions in the past year include an asset management mandate for the Stretford Mall, near Manchester on behalf of Jones Lang LaSalle.

As a result, the company has bolstered its asset management team with two senior appointments: James Neathercoat, who joins from Molyneux Investments, and Ross Malkin, who joins from Lambert Smith Hampton.

'With a strong track record in both owning and managing secondary shopping centres, we see further opportunities to enhance our market presence via acquisitions, joint-venture arrangements or pure asset management roles,' said Tony Quayle, managing director of Edinburgh House. 'Banks and receivers no longer regard a straight-out sale as the default option and are looking towards other solutions to maximise value.'