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MANCHESTER Cushman & Wakefield Global Cities Guide

0 is regarded as the capital of the North West of and is synonymous with a long history in the textile industry. This has more recently been replaced by an association with a vibrant music and sporting scene, but more importantly is underpinned by a strong employment base in the financial, services and media industries.

Manchester’s key geographical location provides access to a substantial urban residential population and continues to attract inward investment to the city. The new Media City at Quays has provided a huge boost to the media industry in the city, boosting Manchester’s attractiveness as a destination for a highly educated workforce. Manchester has continued to evolve its retail and leisure offer with landmark developments such as and NOMA, ensuring it will continue to compete with and to become the premier retail destination in the UK outside of .

In addition the city has invested further in transport infrastructure with both the Metrolink services to the Media City development and to Manchester International Airport line now completed. Further improvements to create a 1.3 km second city crossing and a new station at Exchange Square in the city MANCHESTER centre opened in 2017 and has resulted in the largest tram network in the UK. Work is underway to create a new line to the Centre at a cost of £350 million, creating six new OVERVIEW stops, with the proposed route going through and including a stop at the Imperial War Museum.

1 Cushman & Wakefield | Manchester | 2019 MANCHESTER KEY RETAIL STREETS & AREAS

NORTHERN QUARTER/ KING STREET/ST ANN'S SQUARE The Northern Quarter and Ancoats are together, the King Street and St. Ann's Square remain key footfall creative heart of Manchester and are primarily associated routes in the , linking Market Street with the with and bars. The area provides a wide array former department store. King Street has of independent shops that reflect the shoppers and recently attracted premium retailers such as Jigsaw, visitors it attracts. The retail offer includes Affleck’s Hobbs, TM Lewin, Charlie Tyrwhitt and The White Palace; a former department store which now houses an Company which contributed to the draw of the street. indoor market on multiple levels. Mackie Mayor opened in 2017 and is run by the people behind market. SPINNINGFIELDS This area provides a mixed use of retail, leisure and office space. The retail element is anchored by The Avenue New Cathedral Street is a new pedestrianised luxury and development, which includes a number of high end luxury premium retail destination which runs between Exchange and premium retailers such as Emporio Armani, Mulberry Square and St Ann’s Square. Luxury retailers in and Flannels. Recent additions to the leisure element occupation along the street include , Hugo include The Ivy , who have announced Boss, Ted Baker, Burberry and Reiss. The scheme expansion plans throughout the UK. completed the city’s regeneration following the 1996 bombing.

MARKET STREET/ CORPORATION STREET Market Street represents the central retail district of Manchester, providing a wide range of UK and international multiple retailers that appeal to the mass market. department store is located close by on Corporation Street and has undergone a £20 million refurbishment. The is one of the UK's largest inner city shopping centres, with the main entrance off Market Street.

2 Cushman & Wakefield | Manchester | 2019 MANCHESTER MARKET OVERVIEW

KEY AREAS/ STREETS CONSUMER PROFILE MAJOR RETAILERS PRESENT TYPICAL RENT FOR RANGE OF UNIT UNIT OF 2,000 SQFT SIZES SQFT

Market Street / Arndale Centre Tourists and local mass market TK Maxx, H&M, HMV, Primark, £275,000 500 - 40,000 sqft shoppers , All Saints, Urban Outfitters, Foot Locker, Topman, Aspecto, Thomas Sabo, Vans and Size. King Street Premium higher spending Belstaff, Diesel, Crombie, TM Lewin, £125,000 800 - 4,000 sqft shoppers White Stuff, Jigsaw, Hobbs, Rapha New Cathedral Street Premium higher spending Harvey Nichols, Reiss, Zara, Ted Baker, £220,000 1,500 - 95,000 sqft shoppers Burberry and Hugo Boss. Spinningfields Urban professionals and luxury Flannels, TM Lewin £100,000 750 - 7,500 sqft brand shoppers Northern Quarter/ Ancoats Shoppers looking for Affleck’s Palace, Carhart, £50,000 500 - 35,000 sqft independent retail offer Records

3 Cushman & Wakefield | Manchester | 2019 MANCHESTER SHOPPING CENTRES

THE ARNDALE CENTRE THE CORN EXCHANGE The attracts over 42 million visitors The Corn Exchange is located in Exchange Square, in the every year, the highest footfall of any inner city centre, heart of the city’s bustling retail hub which attracts over 40 and is currently to 1.6 million sq ft of retail space. million visitors per year. There are currently plans to create a brand new £11 It is also part of Manchester’s Medieval Quarter, which will million food quarter, ‘Halle Place’, further diversifying the benefit from a £10 million investment in the coming years area from a traditional retail location. This will be home to to improve public areas around the Cathedral and its ten big name restaurants, as well as a café. gardens, Chetham’s school and library, and walkways from Victoria Station.

THE PRINTWORKS The scheme is home to a 20-screen Odeon cinema, Intu Trafford Centre is a major retail and leisure which houses an IMAX screen. There are 17 food and destination of some 180,000 sq m located approximately venues, including brands such as Tiger Tiger, Hard 4 miles to the south west of Manchester. It hosts several Rock Café, Yates, , and department stores; John Lewis, Marks & Spencer, Nandos, together with a health club. Debenhams and Selfridges, and popular brands such as The venue has an annual footfall of over 7 million people, Apple, Abercrombie & Fitch, Victoria’s Secret, H&M, Zara, and generates a net annual income of £6.75 million, with Next, River Island, JD, Russell & Bromley. The centre the large majority of the income secured to national also has one of Europe's largest food courts, The multiple covenants. Orient, and one of the UK's busiest cinemas (Odeon with IMAX VR), attracting more than 30 million visitors annually. The food & beverage offer is extensive with popular eateries such as , Bill’s Produce, Nando’s, Wagamama’s, McDonalds, East Street, , , Leon and many others. Besides the cinema there are other leisure uses including a Lego Discovery Centre, NAMCO Funscape, Paradise Island Adventure Golf and Sea Life Manchester.

Cushman & Wakefield | Manchester | 2019 4 MANCHESTER MARKET OVERVIEW

KEY SHOPPING CONSUMER PROFILE MAJOR RETAILERS PRESENT TYPICAL RENT FOR RANGE OF UNIT CENTERS UNIT OF 2000 SQFT SIZES SQFT

Arndale Centre Tourists and local mass market TK Maxx, H&M, HMV, Primark, Debenhams, £125,000+ p.a. 500 - 40,000 sqft shoppers All Saints, Urban Outfitters, Foot Locker, Topman, Thomas Sabo, Vans and Size.

The Printworks Local mass market shoppers Hardrock Café, Nuffield Health, Nandos, £70,000+ p.a. 800 - 4,000 sqft Wagamama, Tiger Tiger

The Corn Exchange Premium higher spending Mowgli, Alston, Cabana, Pho, , £50,000+ p.a. 500 – 20,000 sqft shoppers Banyan

intu Trafford Centre Premium higher spending Selfridges, Abercrombie & Fitch, John Lewis, £220,000+ p.a. 500 – 40,000 sqft shoppers Victoria’s Secret, Next, H&M, Zara, JD, Superdry, Apple, Marks & Spencer and Debenhams.

5 Cushman & Wakefield | Manchester | 2019 DEVELOPMENT TO WATCH OUT FOR

CENTRE NAME Circle Square

Total Scheme Size c. 1.5m sqft+

- Retail c. 100,000 sqft

Planned Opening Date Q1 2022

Consumer Profile Urban professionals, students and luxury brand shoppers

Owner Bruntwood/ Select Property Group

ABOUT THE DEVELOPMENT

The masterplan for the site includes a total of 1.2m sqft of commercial office space, 1,700 new homes and 100,000 sqft of ground floor retail and leisure space for shops, MANCHESTER studios, bars and restaurants. A multi-storey car park and two hotels will provide additional amenity to the site and the 250,000 sqft of beautifully designed public realm will NEW DEVELOPMENT bring much needed green space to the city WATCH

6 Cushman & Wakefield | Manchester | 2019 MANCHESTER FOOD & BEVERAGE

Manchester has a wide array of The Printworks to the north of the Arndale Centre is a dedicated leisure development that provides a wide range dining and drinking options. New of food and beverage chain operators, close to the city schemes in the city centre such as the centre. Avenue in Spinningfields and the The Corn Exchange is located off Cathedral Street and in proposed new NOMA development close proximity to The Printworks. The Grade II listed have made leisure an integral building is being refurbished to provide leisure space for restaurant and bar operators. Set in a refurbished grade II component of the overall offer for listed building it offers a range of premium shops and consumers. dining options for nearby shoppers and office workers. Manchester also has a renowned concentration of south , centred in , in what is known locally as “The Curry Mile.”

7 Cushman & Wakefield | Manchester | 2019 MANCHESTER FOOD & BEVERAGE

KEY AREAS CONSUMER PROFILE FOOD & BEVERAGE RENT FOR 3500 OPERATOR INCLUDING SQFT UNIT Spinningfields Office workers & residents Australasia, The Alchemist, The £120,000 pa Oast House, Wagamama, Caluccio’s The Printworks Local residents and tourists Wagamama, Tiger Tiger, Nandos, £135,000 pa , Waxy O’Connors, Hard Rock Café Arndale Centre Local residents / shoppers , Yo! , Hut, £150,000 pa , Millies Cookies, KFC, , Bagel Nash / Office workers / residents and Dukes 92, Albert Shed, Bem Brasil, £110,000 pa & tourists Gaucho, La Tasca, , Surrounding Streets San Carlo, Bella Italia, La Vina, Dimitris King Street / Spring Office workers / residents and Rosso, Room, Browns, Jamie’s N/A Gardens & tourists Italian, Pizza Express, Piccolino, Surrounding Streets Restaurant Bar & Grill, Croma, Chaophraya, Panacea, Northern Local residents and students Bem Brasil, Sweet Mandarin, £70,000 pa Quarter/Ancoats Dough, Black Dog Ballroom, Northern Quarter Restaurant, Turtle Bay The Corn Exchange Officer workers, shoppers Tampopo, Pizza Express, , £140,000 pa The Cosy Club, Pho, Banyan Bar & Kitchen

8 Cushman & Wakefield | Manchester | 2019 MANCHESTER RETAIL WAREHOUSING/BIG BOX RETAIL

MANCHESTER FORT RETAIL PARK CROWNPOINT NORTH SHOPPING PARK

A retail park of around 326,000 sqft with 36 units. Crownpoint North Shopping Park has 28 units in is located 1.5 miles north of the city 221,500sqft situated 3 miles east of at the junction of the A665 and centre. at junction 1A of the M67 and a minute from the A6010 Queens Road. The 326,000 sqft park is the junction 24 of the M60. Shops include TK Maxx, M&S, largest open A1 shopping park in , Outfit, Boots, River Island, Tesco and Clarks. Footfall is comprising 36 retail units, such as Next, H&M, Nike, M&S some 5 million annually. Simply Food, Boots, Asda Living, Outfit, TK Maxx, Sports Direct, Argos, Clarks and Superdrug. Recent additions to the park include Mothercare, Trespass and Specsavers.

WHITE CITY RETAIL PARK TRAFFORD RETAIL PARK

A retail park of 210,000 sqft with 20 units located 2 miles Trafford Retail Park is 143,185 sqft with 14 units located from Manchester City Centre, in a prominent location immediately off J10 of the M60 Orbital motorway, adjacent fronting Chester Road (A56). Existing units on the retail to Intu Trafford Centre. It is occupied by Dunelm, Sports park have recently been extensively refurbished. Direct, Home Bargains, Carpetright, Pets at Home, B&M, Retailers include Oak Furnitureland, Halfords, The Food TK Maxx and Boots, and pod units occupied by , Warehouse, Home Bargains, Dreams and Aldi among McDonald’s and Carphone Warehouse. It has annual others. footfall of some 4.1 million per annum. A second phase is currently being marketed, with pre-lets to Aldi and Costa Drive-thru.

9 Cushman & Wakefield | Manchester | 2019 MANCHESTER RETAIL WAREHOUSING/BIG BOX RETAIL

CENTRE CONSUMER RETAILERS F&B AND TYPICAL RANGE OF PROFILE PRESENT LEISURE RENT FOR UNIT TENANTS UNIT OF SIZES, 10,000 SQFT SQFT B&Q Warehouse, Party Delights, The Carphone Pizza Hut, Greggs, Manchester Fort 1,000 – Mass market Warehouse, Tui, H Nandos, KFC, £26.00 psf p.a. Retail Park 105,000 Samuel, Nike, McDonalds Superdrug

Sports Direct, USC & Flannels, Claire’s, Frankie & Benny’s, Crownpoint North Vodafone, The Mass market McDonalds, Costa, £27.50 psf p.a. 1,000 – 25,000 Shopping Park Works, Wilko, Greggs Holland & Barrett

Oak Furnitureland, Halfords, The Food White City Retail Warehouse, Home Powerhouse Mass market £25.00 psf p.a. 1,800 – 30,000 Park Bargains, Dreams, Fitness, Costa Aldi,

Dunelm, Sports Direct, Home McDonalds, Trafford Retail Mass market Bargains, Nando’s, KFC, £17.50 psf 2,000 – 30,000 Park Carpetright, B&M, Pizza Hut Pets at Home

10 Cushman & Wakefield | Manchester | 2019 WILL THOMAS Associate National Retail & Occupier Services - North Retail Services Cushman & Wakefield Tel: +44 (0) 161 235 7639 Mob: +44 (0) 7798 576788 [email protected]

No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2019 Cushman & Wakefield LLP. All rights reserved.