M&G Real Estate and intu have completed a series of new lettings at Manchester Arndale to a leading line-up of international and UK brands, including Kiko Milano, Lovisa, Nespresso, Five Guys, Baytree Interiors and Predator Nutrition.
At a time of growing economic strength for the region and retailer demand on the rise for space in Manchester, Manchester Arndale has secured an impressive run of new names. Among these, Italian make-up and cosmetics brand Kiko Milano, will occupy 600 sq ft on a 10-year lease and the international fashion jewellery and hair accessories retailer, Lovisa, has signed to take a 600 sq ft store on a 10-year lease. Furthermore, the world-famous coffee brand Nespresso, will occupy a 2,000 sq ft pop-up and Five Guys, the American restaurant chain offering fresh and handcrafted burgers, will be opening a 4,000 sq ft restaurant having signed a 15-year lease.
Global lifestyle brand Superdry has refurbished its 15,000 sq ft Manchester Arndale store to showcase the brand’s new in-store style concept, also seen in Berlin and Brussels.
Other new names include two northern brands, Baytree Interiors and Predator Nutrition. Baytree Interiors, a furniture and home furnishings brand based in Harrogate, has opened a 2,100 sq ft store and Predator Nutrition, a bodybuilding supplements and sports nutrition retailer, has opened a 1,470 sq ft store at the heart of the centre.
Kannika Mall, Asset Manager at M&G Real Estate comments on behalf of the joint owners:
“Manchester Arndale continues to attract significant attention from national and international retailers, driving Manchester’s reputation as a leading global retail hub. International brands looking to expand and seeking their first store in the UK know that Manchester Arndale is a ‘must-trade’ location given its annual footfall of 40 million and the city’s growing consumer confidence. While Manchester Arndale is home to some of the world’s most popular brands, it also boasts a growing number of expanding regional retailers such as Baytree Interiors and Predator Nutrition. We expect occupier demand for space in the centre will only get stronger into 2017.”
Retailer demand for space in Manchester is booming. According to Savills, 54 new retail brands have opened in the city since 2012 – a net increase of 9%. Manchester has affirmed its presence as one of the UK’s leading retail hubs and the new lettings follow a busy 2016 for Manchester Arndale with Lindt, Radley and Costa Coffee having signed to open new stores.
Meanwhile, with the increasing demand for restaurant and café units, M&G Real Estate and intu have recently committed £11m for the redevelopment of Halle Square, which will become Halle Place, the new contemporary casual dining destination at the heart of the centre.
Manchester Arndale also continues to secure re-commitment from its existing tenants:
– Lush – upsize from a 932 sq ft store to a 2,970 on a new 10-year lease
– Menkind – upsize to a 1,200 sq ft store on a new 10-year lease
– Bags ETC – 5-year recommitment
– Accessorize – 10-year recommitment
– The Fragrance Shop – upsize to a 850 sq ft store on a 10-year lease
– Chisholm Hunter – upsize to a 2,400 sq ft store on a 10-year lease
– Rollers – 10-year recommitment
In addition to the recommitments, Timberland has opened a new 2,200 sq ft pop-up store and Carluccio’s opened a 2,200 sq ft pop-up delicatessen during the Christmas season.
Manchester Arndale is one of Europe’s largest inner city shopping centres. It is owned jointly by M&G Real Estate and intu. The retained agents are JLL and Metis Real Estate Advisors.
