Landlords Wanted
New figures reveal the city is generating an estimated £910 million in retail spend ….
Manchester has been named as the top retail destination outside London for the second year running.
Manchester city centre is ranked second only to London’s Oxford Street in terms of retail spend, according to new research. The 2014 RetailVision Report by Callcredit Information Group lists the UK’s top 50 shopping centres by revenue. London’s Oxford Street generated a whopping £1.43bn of retail revenue last year, followed by Manchester (£910m), Birmingham (£849m) and Glasgow (£813m). Interestingly, Liverpool (£705m) and Leeds (£628m) both outperformed Edinburgh (£622m) in generated revenue.
In terms of percentage of ‘premium stores’ (above average price), Manchester (10.2%) was pipped by Cheshire Oaks (17.6%) and the Trafford Centre (11.2%). The Heart of Manchester BID, which represents over 380 city centre retailers, is attributing the city’s continued success to its diverse retail offering and annual events programme which has boosted both footfall and spend.
Jane Sharrocks, General Manager, Selfridges Exchange Square and Chair, Heart of Manchester BID said: “This is fantastic news for Manchester. Not only have we retained our position as the top destination for retail outside London for the fourth year running but the city’s luxury shopping offer has been acknowledged as one of the best outside of the capital.
“Manchester city centre continues to attract new brands and over the last year we’ve seen a diverse mix of new stores open up in the city, including 7 For All Mankind, Rapha Cycle Club, Footlocker Kids, Michael Kors, Goldsmith’s Boutique, TAG Heuer, Thomas Sabo and Perfect Home, with many more deals in the pipeline, demonstrating the compelling proposition the city centre offers for retailers, particularly those expanding out of London.”
Councillor Pat Karney, Manchester city centre spokesperson, said: “The 2014 RetailVision report shows that Manchester is performing very strongly as a retail destination. “We had an excellent programme of events throughout the year – not least Manchester Day, the Food and Drink Festival and the Christmas Lights switch-on – and these, along with the great range of shops we have in the city, help to make it a must-visit destination for people from all over the country and indeed the world.”