Manchester Arndale has strong 2023, expects more of the same
News of strong performances from city centre malls continues to come in thick and fast. Next up is Manchester Arndale, which tells us its gearing up for a “bumper 2024” as it looks set to add to its retail, leisure and dining 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 newness helped footfall grow by 6.3% with over 46 million people visiting Manchester Arndale and New Cathedral Street during 2023.
Newcomers in the past year include Nike, Moss, Manchester City (the football club), Dune, Clarks, Sunglass Hut, and French Connection.
The centre has also managed to secure long-term lease renewals including River Island, which has upsized its space by 3,686 sq ft.
And there’s more to come in 2024, with The North Face having just opened its new store, soon to be followed by fashion brand Lounge, taking centre occupancy to over 95%.
Global Mutual and M&G said they’re now in talks with several retailers “looking to benefit from the centre’s ‘prime location’ in the heart of Manchester city centre”.
These new arrivals “further strengthen 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”, they told Bdaily News.
Scott Linard, Portfolio Director for M&G Real Estate, added: “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.”
The positive news from Manchester Arndale follows on from similar recent success stories from Merry Hill in the Midlands and Liverpool One.
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