Marks & Spencer is set to confirm growing speculation that it is about to sign up for a large chunk of the 37,160 sq m (400,000 sq ft) Piccadilly Plaza in central Manchester. The move follows the devastation of the retailer’s premises at the junction of Cross Street and St Mary’s Gate by the IRA bomb on Saturday.
Lambert Smith Hampton director, Tom Marshall, who is also acting as joint LPA receiver for Piccadilly Plaza, confirmed the news. “Yes, we’re talking with M&S. Unfortunately, its choice is fairly limited. All the signs are that they want to reach a decision next week.”
Piccadilly Plaza currently has 7,432 sq m (80,000 sq ft) of empty space and is recognized as a strong option if M&S cannot move back into its original site quickly.
William Hatton at De Havilands said: “If M&S want to occupy 100,000 sq ft, they’ll need a development with a substantial amount of void. The only existing opportunity is the Piazza level in the Piccadilly Plaza. Let’s just say that reliable sources have indicated to me that this is what they’ll do.”
Meanwhile, a spokeswoman for Marks & Spencer confirmed this afternoon that the firm was talking with Lambert Smith Hampton about moving into the Plaza. She added: “We are weighing our options and hopefully at the end of next week, we’ll know the full extent of bomb damage and whether we’ll have to relocate.”
EGi News 24/06/96
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