Manchester Arndale to secure more leasing transactions in 2024

Manchester Arndale shopping centre is set to add to its retail, leisure and eatery line-up this year, following a successful 2023 that saw footfall grow by 6.3%. 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. In the past year, Manchester Arndale welcomed 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 looks to welcome more new names in 2024, as the North Face has already opened its new store. 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. The new arrivals have already taken the centre to over 95% occupancy. Both Global Mutual and M&G are 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.”