Fears are growing among Manchester agents that tenants in the Royal Exchange shopping centre will leave Manchester if they cannot find suitable space quickly.
The Prudential owns the freehold of the Royal Exchange while Power Securities holds the head lease. Tenants in the three-level centre include Body Shop, Cecil Gee, The Gap, Moss Bros, Thorntons and Nicole Farhi.
The Prudential has already relocated Thomson’s Holidays, which occupied 1,486 sq m (16,000 sq ft) of offices in the Royal Exchange building, to 929 sq m (10,000 sq ft) in Brazennose House, which the Pru also owns.
So far, no one knows the precise nature of the damage to the Royal Exchange, where a £7m refurbishment of the listed building had just been completed. But a spokesman for the Pru said that early next week external stone walls will be removed so structural engineers can examine the frame.
William Hatton of De Havillands said: “Quite where the likes of Nicole Farhi goes now, is anyone’s guess. I don’t know what they’ll do.”
EGi News 24/06/96
Click below for additional news
First estimates suggest 46,450 sq m of offices damaged in Manchester blast
Refurbished retail takes the brunt of the blast
City centre occupiers start to assess Manchester bomb damage
M&S store “very badly damaged” by blast
Manchester blast brings business to a halt
MEPC’s central Manchester properties escape serious damage.
Listing of worst affected office occupiers in Manchester city centre
Manchester Bomb : M&S set to move into Piccadilly Plaza
