Manchester property companies are among a number of heavyweight city businesses that have slammed plans for the 23,500-seat Eastlands Arena, claiming the scheme poses a “very real threat” to the city centre economy.
Aviva Investors, DTZ Investors, Prestbury Investments, ASM Global (operator of Manchester Arena), Manchester Arndale, and Living Ventures are among the companies speaking out against plans for more than 181,000 sq ft of food, beverage and retail space that was not included in the scheme’s original plans.
Initial plans for the arena emphasised that the venue would benefit from leisure offerings within the city centre.
Two reports on the proposed development conducted by Charles River Associates and Grant Thornton and Oxford Economics showed there is no market need for a second major venue (aside from Manchester Arena) and that building a second would negatively impact the city centre economy.
Manchester businesses opposing the plans have called for the relevant authorities to apply “proper scrutiny” to the scheme.
Aviva Investors real assets director Andrew Coles said the plans could hinder progress in rebuilding the city’s economy post-Covid-19.
“The situation in the city centre and its businesses is vastly different to what it was at the start of this year,” he said. “We believe it is in everyone’s interest to protect and support the recovery of the city centre.
“The basis of the Eastlands Arena application was written before the full scale of the economic impact on Manchester was understood. We would urge the relevant authorities to carefully consider how to ensure the vitality and viability of the city centre, which reflects the economic reality on the ground.
“As such, we believe a full retail and leisure impact assessment of a scheme of this size is needed.”
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