The north-west retail scene in general has struggled with sluggish footfall in recent months, but Greater Manchester continues to attract large companies to its range of well-positioned shopping sites.
It was announced today that fashion and homeware retailer Marks & Spencer (M&S) has renewed its lease with the Lowry Outlet Mall in Salford Quays by signing another ten-year deal for its M&S Outlet at the centre.
A statement from the retail hub revealed that total sales and footfall between January and July 10th were up 8.4 and 6.8 per cent respectively compared to the same period one year before.
It comes after Callcredit Marketing Solutions’ 2011 Retail Vision Report, published last month, showed that Manchester is second only to London’s Oxford Street in terms of retail revenue from comparative goods.
According to the study, whereas Oxford Street generated revenue of £1.62 billion in 2010, Manchester was not far behind with sales worth £921.1 million, and the latter’s retail sector could be further boosted by the imminent arrival of the BBC’s part-relocation to Salford which will be complete next year.
Lowry Outlet Mall Centre Manager Robert Hallworth said: “We are thrilled that M&S has signed up for another ten years of trading with the centre - it shows overwhelming confidence in our performance over the last few years.
“With MediacityUK, one of the UK’s largest developments, being next door to the centre, this will also give the mall a boost in sales and footfall for years to come and M&S is very keen to capitalise on this market.”
Meanwhile Leeds-based property investment & development firm Town Centre Securities (TCS) has announced today that just one retail unit remains at its Urban Exchange scheme in Piccadilly Basin on the outskirts of Manchester.
German discounter supermarket Aldi and outdoor leisure products specialist Go Outdoors are among the companies that have recently secured space at the 120,000 sq ft site.
A 20,000 sq ft M&S Outlet store is also currently being fitted out ready for opening on August 4th, further adding to the mix of established retailers at this expanding out-of-town location.
Edward Ziff, Chairman and CEO at TCS, commented: “We’re looking for the right retailer that will complement the other national and international brands we have secured for this site.
“The new tenant will benefit from footfall generated by the customers for our existing occupiers Aldi, Go Outdoors, and soon to open M&S Outlet and Pure Gym.”