Trafford Council has bought yet another property, this time in Altrincham for almost £26 million.

The Sainsbury’s supermarket in Lloyd Street was snapped up by the authority over the summer, but the council has now made it clear that the supermarket will continue to operate with Sainsbury’s as its tenants and was bought as a money making asset.

The council bought the building for £25.59 million to add to its already burgeoning investment portfolio.

The authority has bought three shopping centres (Stretford Mall, Altrincham’s Stamford Quarter and Altrincham’s Clarendon Centre) for £50 million and three office buildings around Albert Square in Manchester city centre for £17.6 million; all in the last three months alone.

Just last week it was revealed the authority had borrowed £60 million from a government lending fund, which it then handed on to the private, investment firm owners of the iconic CIS Tower in Manchester city centre.

Trafford Council hopes to make at least £1.4 million out of the CIS Tower loan in interest rates.

The authority also bought the former Kellogg’s factory in Old Trafford back in September 2017 for £12 million.

Other recent purchases made by Trafford Council include Brown Street in Hale to build homes, The Crescent in Salford to also build homes and the purchase of Trafford Magistrate’s Court.

According to council documents, the authority hopes to make at least £60,000 out of the purchase of Sainsbury’s, Altrincham.

A spokesman for Trafford Council confirmed the deal was sealed over the summer.

They said: “We can confirm that Trafford Council has purchased the Altrincham Sainsbury’s site for £25.59 million as  part of our ongoing investment strategy.

“The site will be leased back to Sainsbury’s with all surpluses going back into council services.”