Manchester Fort lets 24,400 sq ft
Published: 18 July, 2011
Henderson Global Investors, on behalf of its £1.1bn UK Retail Warehouse Fund, has secured a series of lettings at its Cheetham Hill based shopping park Manchester Fort. National chains Marks and Spencer, ShoeZone and Clintons have all agreed deals which will see them open at the site this summer.
Marks and Spencer will launch a Simply Food outlet within an 18,000 sq ft unit, expected to open in the autumn. Meanwhile card and gift retailer Clintons, has taken a 3,800 sq ft unit and footwear retailer ShoeZone will take 2,600 sq ft of space. Both stores will open in July.
Michael Neal, fund manager for the Henderson UK Retail Warehouse Fund, said: "Manchester Fort provides an ideal location for each of the new retailers where they will benefit from the strong footfall and calibre of existing tenants.
"The breadth of brands now available at the centre provides additional reasons for consumers to visit. In particular, we believe that the enhanced food offering, will further drive foot fall and sales."
Henderson remains committed to the retail warehouse segment of the market, for which it forecasts strong returns as more and more retailers see the benefits of trading from prime shopping parks.
2011 has seen an excellent start for the Retail Warehouse Fund, having delivered total estimated returns of 4.1 per cent for the first quarter following a return of 23.6 per cent delivered to unit holders in 2010.
The news comes hot on the heels of Starbucks' move to the site in April as well as Nandos in February. The new tenants will join existing stores including; Next, Asda Living, Boots, B&Q and Outfit.
Wilkinson Williams & Morgan Williams acted as letting agents on behalf of Henderson.
