Marks & Spencer and Pure Gym sign up at Urban Exchange
Published: 09 May, 2011
Marks & Spencer and Pure Gym have signed leases totalling 38,678 sq ft at Town Centre Securities’ Urban Exchange Manchester development, leaving only one unit now available
Marks & Spencer has signed a lease for a 19,353-sq ft ground floor unit which will become an outlet store. And 24-hour gym operator Pure Gym has agreed a 15-year lease for 19,326 sq ft on the lower ground floor.
Following earlier leases to Aldi and Go Outdoors, the flagship retail scheme is almost fully let with just one ground floor unit of 7,233 sq ft available. Town Centre Securities who has transformed the 120,000-sq ft building which was left vacant when Danish furniture retailer Ilva went into administration in 2008.
Edward Ziff, Chairman and Chief Executive of Town Centre Securities, said; “To be in a situation where a prominent building of this magnitude is left vacant presents many challenges and we are incredibly proud to have been able to overcome these to create a successful scheme in the midst of a challenging economic climate. We have always had confidence in the whole Piccadilly Basin scheme as it occupies such a key site within the City of Manchester and the major retailers we now have in occupation will undoubtedly ensure its continued success.”
CB Richard Ellis represented Marks & Spencer and Town Centre Securities was represented by Cushman & Wakefield and BNP Paribas.
