Manchester is regarded as the capital of the north west of England 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 This has more recently been replaced by an association with a vibrant music and sporting scene, but more importantly is underpinned by a strong employment base in the financial, services and media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 Salford Quays 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 new landmark developments such as Spinningfields and NOMA, ensuring it will continue to compete with Glasgow and Birmingham to become the premier retail destination in the UK outside of London.
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 began in July 2014 to create a 1.3 km second city crossing and a new station at Exchange Square in the city centre. When complete, the investment will result in the largest tram network in the UK. Public consultation is underway to create a new line to the Trafford Centre at a cost of £350 million, creating six new stops, with the proposed route going through Trafford Park and including a stop at the Imperial War Museum.
The Northern Quarter is the creative heart of Manchester and is primarily associated with restaurants and bars. The area provides a wide array of independent shops that reflect the shoppers and visitors it attracts. The retail offer includes Affleck’s Palace; a former department store which now houses an indoor market on multiple levels.
NEW CATHEDRAL STREET
New Cathedral Street is a new pedestrainised luxury and premium retail destination which runs between Exchange Square and St Ann’s Square. Luxury retailers in occupation along the street include Harvey Nichols, Hugo Boss, Ted Baker, Lacoste, Burberry and Reiss. The scheme 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. Selfridges department store is located close by on Corporation Street and is currently undergoing a £20 million refurbishment. The Arndale Centre is one of the UK's largest inner city shopping centres, with the main entrance off Market Street.
KING STREET/ST ANN'S SQUAREKing Street and St. Ann's Square remain key footfall routes in the city centre, linking Market Street with the House of Fraser (Kendals) department store. King Street has recently attracted premium retailers such as Jigsaw, Hobbs and Jaques Vert, which contributed to the draw of the street.
SPINNINGFIELDSThis area provides a mixed use of retail, leisure and office space. The retail element is anchored by The Avenue development, which includes a number of high end luxury and premium retailers such as Emporio Armani, Mulberry and Flannels. Recent additions to the leisure element include The Lawn Club, who have announced expansion plans throughout the UK.
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 2,000 SQFT||RANGE OF UNIT SIZES|
|Market Street / Arndale Centre||Tourists and local mass market shoppers||BHS, TK Maxx, H&M, HMV, Primark, Debenhams, All Saints, Urban Outfitters, Footlocker, Topman, Mango & Nike||Ark, Aspecto, Thomas Sabo, Vans, Size||£275,000||500 - 40,000sq ft|
|King Street||Premium higher spending shoppers||Belstaff, Crombie, Diesel, Crombie, TM Lewin, Pink, White Stuff||Chalk, Jigsaw, Hobbs, Jaques Vert, Rapha||£125,000||800 - 4,000sq ft|
|New Cathedral Street||Premium higher spending shoppers||Harvey Nichols, Reiss, Zara, Ted Baker, Lacoste, Burberry||Hugo Boss||£220,000||1,500 - 95,000sq ft|
|Spinningfields||Urban professionals and luxury brand shoppers||Emporio Armani, Mulberry, Flannels, TM Lewin||N/A||£100,000||750 - 7,500sq ft|
|Northern Quarter||Shoppers looking for independent retail offer||Affleck’s Palace||N/A||£50,000||500 - 35,000sq ft|
Data as of April 2015
Manchester has a wide array of dining and drinking options. New schemes in the city centre such as the Avenue in Spinningfields and the proposed new NOMA development have made leisure an integral component of the overall offer for consumers.
The Printworks to the north of the Arndale Centre is a dedicated leisure development that provides a wide range of food and beverage chain operators, close to the city centre.
The Corn Exchange is located off Cathedral Street and in close proximity to The Printworks. The Grade II listed building is being refurbished to provide leisure space for restaurant and bar operators. Set in a refurbished grade II listed building it offers a range of premium shops and dining options for nearby shoppers and office workers.
Manchester also has a renowned concentration of south Asian cuisine, centered in Rusholme, in what is known locally as “The Curry Mile.”
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATOR INCLUDING||RENT FOR 3,500 SQFT UNIT|
|Spinningfields||Office workers & residents||Australasia, The Alchemist, The Oast House, Wagamama, Southern 11, Caluccio’s, GBK||£120,000|
|The Printworks||Local residents and tourists||Wagamama, Tiger Tiger, Harvester, Henry J Beans, Papa G’s, Nandos, Chiquito, Prezzo, Waxy O’Connors, Hard Rock Cafe||£135,000|
|Arndale Centre||Local residents / shoppers||Bella Italia, Yo! Sushi, Pizza Hut, Subway, Millies Cookies, KFC, Greggs, Ditsch, Bagel Nash||£150,000|
|Deansgate / Castlefield & Surrounding Streets||Office workers / residents and tourists||Dukes 92, Albert Shed, Bem Brasil, Gaucho, La Tasca, Las Iguanas, San Carlo, Bella Italia, La Vina, Pesto, Rice, Dimitris||£110,000|
|King Street / Spring Gardens & Surrounding Streets||Office workers / residents and tourists||Rosso, Room, Browns, Jamie’s Italian, Pizza Express, The Grill On The Alley, Stock, Lounge 10, Piccolino, Restaurant Bar & Grill, Croma, Chaophraya, Panacea, All Bar One, Burger and Lobster||£12015,000|
|Northern Quarter||Local residents and students||Bem Brasil, Sweet Mandarin, Dough, Trof, Bluu, Odd, Thomas Restaurant, Ning, Walrus, Black Dog Ballroom, Northern Quarter Restaurant, Turtle Bay||£70,000|
|The Corn Exchange||Officer workers, shoppers||Tampopo, Pizza Express, Zinc Bar & Grill, Zizzi, Wahaca, Byron, Bill’s, The Cosy Club, Pho, Banyan Bar & Kitchen||£140,000|
Data as of April 2015
STUART MONCURPartner, National Retail Services
3rd Floor, 63A George Street
Scotland, EH2 2JG
Tel: +44 (0)131 226 8754
Mob: +447887 795506