The Financial Times reviews the redevelopment of Manchestercity centre following the IRA bomb which devastated it in 1996.
The paper reports renovation of Manchester’s heartland is takingplace against a battle for supremacy with a rival retailing development,the Trafford Centre. The £600m Trafford Centre is billed as theworld’s biggest retail and leisure complex and is being built a fewmiles away in the south-west of the city.
The Financial Times reports that there are signs Trafford willdo well when it opens this autumn. Retail rental rates have jumped inthe past two years from £1,184 a sq m (£110 a sq ft) to£2,152 a sq m (£200 a sq ft).
- Financial Times 23/01/98 page 12 (The Property Market)
