Five key existing tenants at M&G’s Manchester Arndale have renewed their leases, reinforcing the centre’s status as the leading retail and leisure destination in the North West.
International footwear brand Deichmann is expanding its footprint by adding 2,101 sq ft to its existing 6,357 sq ft store under a new 10-year lease.
Other retailers include Waterstones, which has signed a 7-year lease for its 15,717 sq ft store; The Body Shop and Victoria’s Secret, each committing to 5-year terms for 2,061 sq ft and 5,093 sq ft, respectively.
Victoria’s Secret also plans to refurbish its store as part of the renewal.
Leisure operator Urban Playground has also extended its 19,308 sq ft lease for another three years.
These lease agreements come as the centre maintains strong footfall, attracting 46m visitors in 2024, driven by a broad mix of fashion, beauty, leisure, and F&B brands.
CBRE Sovereign Centros, on behalf of M&G Real Estate and Global Mutual, acts as joint asset manager of Manchester Arndale and New Cathedral Street, while Metis Real Estate and Time Retail Partners are the centre’s retained letting agents, with Green & Partners retained lease advisory agents.
Steve Gray, head of European retail asset management at Global Mutual, said: “It’s fantastic to see these established names choosing to extend their stay at Manchester Arndale. Their renewed commitment is a testament to the strong trading environment, impressive customer base, and dynamic mix of brands that the centre offers.”
Scott Linard, portfolio director for M&G Real Estate, said: “Retailers want to be where the people are, and Manchester Arndale’s high visitor numbers, strong tenant mix, and prime city centre location make it a clear choice.”
Image: Manchester Arndale
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