Manchester Arndale is gearing up for a bumper 2024 as it looks set to add to its retail, leisure and eatery line-up following a hugely successful 2023.
During the past 12 months, joint asset managers M&G Real Estate and Global Mutual secured over 106,042 sq ft of leasing transactions which included 13 new tenants and 25 lease renewals, as the centre moved close to full occupancy. This leasing activity and new openings meant footfall grew by 6.3% with over 46 million people visiting Manchester Arndale and New Cathedral Street during 2023.
The past year has seen Manchester Arndale welcome a host of new stores, restaurants, and leisure operators to the city centre, ranging from international brands such as Nike, Moss, Manchester City, Dune, Clarks, Sunglass Hut, and French Connection, to growing operators such as Sides, Creams, Black Sheep Coffee, and Lazy Sundae. The centre has also managed to secure long-term lease renewals for many of its popular brands including River Island which has upsized their space by 3,686 sq ft.
Manchester Arndale is now looking forward to welcoming more new names in 2024. The North Face has already opened its new store, and this will be followed by the opening of Korean supermarket Oseyo, fashion brand Lounge, and local leisure operator King Pins, who are all set to arrive early this year. These new arrivals have taken the centre to over 95% occupancy, and further strengthens Manchester Arndale’s diverse mix of retail, leisure, and restaurant operators as it enhances its reputation as one of the North West’s premier visitor attractions.
Both Global Mutual and M&G are now working towards further enhancing Manchester Arndale’s offering and are in talks with several retailers looking to benefit from the centre’s prime location in the heart of Manchester city centre.
Scott Linard, portfolio director for M&G Real Estate, said: “2023 was a hugely successful year for Manchester Arndale with the rise in footfall and flurry of leasing activity across the centre testament to the team’s hard work and strong relationships with shoppers and leading brands. From working with our long-term occupiers to enhance their stores, to welcoming new names, we hope that 2024 will be an equally exciting year for Manchester Arndale as we look to provide a great retail experience for our visitors and further add to our impressive retail line-up.”
Steve Gray, head of European retail asset management at Global Mutual, added: “Manchester Arndale’s tenant line-up continues to grow, and this mix of occupiers allowed us to attract over 46 million visitors from across the North West and beyond last year. It is testament to the centre’s appeal that many growing brands have selected Manchester Arndale as their first store or outlet in the city, and we look forward to welcoming more new occupiers over the next few months.”
M&G Real Estate and Global Mutual act as joint asset managers of Manchester Arndale while Metis Real Estate and Time Retail Partners are the centre’s retained letting agents, with Green & Partners retained lease advisory agents.
