globe retail outlook data

 

  • Retail
  • Office
  • Log In
https://smg.cbre.com/images/default-source/default-album/header-image.jpg?sfvrsn=69c20d96_0

Retail By City

ManchesterUnited Kingdom

city rank #39

City Overview

Manchester is one of the UK’s most vibrant cities and is the largest retail market in the North West. Its large catchment enjoys strong consumer spending; and the ever-expanding, working population within the city has a big influence on retail shopping patterns. The city’s retail market is centred on Market Street, a key retail thoroughfare for mainstream brands that acts as a link between Deansgate, St Ann’s Square, New Cathedral Street, and the Arndale Centre, which is the city’s dominant shopping centre. Rents on Market Street have been buoyed as demand for space in this high footfall location begins to out-strip demand. Mango recently surrendered their lease with Clydesdale Bank taking occupation. There has been a recent resurgence of banks looking for space on Market Street, with Metro Bank actively seeking space in this part of the city. Prime Zone A rents on Market Street are now at £280 per sq ft, this is the highest it has been since its pre-financial crash level of £300 per sq ft.

Manchester continues to thrive as a retail destination, attracting international as well as new domestic retailers. Spinningfields, a mixed-use development just off Deansgate, has attracted an additional 25,000 office workers as well as an aspirational retailer line-up that includes Drake & Morgan, Armani, and a relocated Mulberry. Over the past few years landlords have also let sites within The Avenue to restaurant operators to drive footfall and improve dwell time. The additions to Spinningfields has seen some displacement from King Street, but those retailers have been replaced by a mixture of national and international retailers new to the city such as Cath Kidston, Jack Wills, Kiehl’s, Neals Yard and White Stuff. The redevelopment of The Corn Exchange into a leisure scheme has also added to the resurgence of King Street with Bravissimo and Jigsaw opening. The Corn Exchange has now relaunched and includes restaurateurs such as Vapiano and Pho, both new to the city. New Cathedral Street, anchored by luxury department stores Selfridges and Harvey Nichols, has retained a strong tenant line up with the likes of Burberry and Michael Kors with Zara upsizing. Ralph Lauren have also exchanged on the former Seven For All Mankind unit on New Cathedral Street.

The Arndale Centre has performed very strongly over the last 12 months, with rents within the centre now on a par with Market Street. The north-eastern section of the city known as the Northern Quarter caters for the younger, trendier market with popular independent bars, restaurants and nightclubs. The well-established regional shopping centre, the Trafford Centre sits directly west of the city centre on the orbital M60 motorway and is the strongest retail location in the north of England, home to a strong anchor store line up and a number of large international retailers, including Stradivarius, Zara and Pull & Bear. The only scheme to be anchored by Selfridges, Debenhams and John Lewis.

Things to do

See

Work

Spinningfields for its retailer and restaurant line up, New Cathedral Street and Selfridges


Rest

Be a Blue or a Red with Manchster United and Manchester City based close to the city centre; the Phones 4 U Arena plays host to international music artists and sporting events alike; if feeling energetic a spin around the city’s velodrome where UK Cycling is based


And be seen

Eat

San Carlo - the very best in Italian dining and a Manchester institution where the city's celebs come to dine. Australasia a Pacific Rim influenced restaurant on Deansgate by the entrance to Spinningfields


Drink

Great John St hotel and its roof terrace; 20 Stories on Hardman Square for a 360 degree view of the city; The Oast House for a rustic style pub offering local ales and beer.


Be Merry

Evelyn’s in the Northern Quarter and Deansgate Locks has something for everyone


Other Cities in United Kingdom

Contact Us

JAMES FOX
Toronto Square
Toronto Street, Leeds, LS1 2HJ
+44 113 394 8885 | James.Fox@cbre.com