Benetton is hoping to open the second of five regional megastores, in Manchester.
The Italian fashion retailer recently increased investment in its brand and moved away from franchising, and is tipped to take a 2,323 sq m (25,000 sq ft) flagship store at Scottish Widows 41-43 Market Street scheme.
Benetton plans to open 30 wholly owned stores in the UK in the next five years, including the regional flagships. The first, a 1,394 sq m (15,000 sq ft) store in Cardiff, will open next month.
The Market Street store will be created from two units let to Birthdays and Wade Smith, at one of the busiest entrances to the Arndale. Larraby Land will develop them for Widows.
James Andrew of Kitchen La Frenais Morgan, which is advising Scottish Widows, would not confirm Benettons involvement, but said: “Were awaiting the outcome of the planning application. This is 100% prime. It will be architecturally stunning, and the rent reflects this.”
Scottish Widows is taking back the shops from the existing tenants, who pay £700,000 pa. The quoting rent on the new store is £1.1m.
EGi News 08/09/00
