Developed by The Peel Group, the 19,000 square metres (200,000 sq ft), Trafford Palazzo opened as Barton Square on 20 March 2008 at a cost of £90 million.[4][5] The former name referenced the name of the street the centre is situated on, Barton Dock Road which refers to nearby Barton-upon-Irwell.[4][6]
Opening as an extension to The Trafford Centre, Barton Square was originally intended to house retailers specialising in homeware, furniture, appliances and other 'bulky goods'.[7] The centre's original tenants included Dwell, British Home Stores and M&S Home.
Over time the centre began to pivot from simply homeware to leisure with tenants such as Legoland Discovery Centre and Sea Life opening.
Peel Group sold The Trafford Centre, including Barton Square, to Capital Shopping Centres (CSC) in January 2011 for £1.6 billion, in cash and shares, and John Whittaker, chairman of Peel Group, became deputy chairman of CSC. He later claimed he could have sold the centre for over £2 billion if he had been prepared to accept just cash. Nevertheless, the £1.6 billion deal remained the largest property transaction in British history, and the biggest European property deal of 2011.
As of 2017, Intu claimed a fair market value of £2.312 billion for the centre. However, the firm entered administration in June 2020 and the centre was placed into receivership by its creditors in November 2020. In 2020, the Canada Pension Plan Investment Board, who had loaned Intu £250 million in 2017, exercised their rights as creditors to take ownership of the complex excluding Barton Square, which would be legally separated from The Trafford Centre.
Barton Square was spun off as a separate entity to The Trafford Centre during the collapse of Intu in 2020.[8] It was then put up for sale as part of the administration process with an asking price in excess of £50 million. In May 2021 Peel Land and Property, its original developers announced they had re-acquired the centre for an undisclosed sum.[8] Peel subsequently re branded the centre to Trafford Palazzo in November 2021[9] celebrating the occasion with a weekend of live events.[10]
Trafford Palazzo and The Trafford Centre now operate as rival centres despite being physically linked.