Korean supermarket signs Manchester Arndale lease
Oseyo will take 12,600 sq ft at the shopping centre in what has been described as the brand’s “largest and most ambitious project so far” by operations coordinator Isaac Kweon.
Oseyo is a UK-based Asian retailer. Its name translates to “Welcome” in Korean and the supermarket sells sauces, snacks, produce, and an array of houseware, K-Pop, beauty, and stationery products.
Kweon described Oseyo as offering “a truly global and refined shopping experience”.
“With an ever-growing range of exclusive products which we directly produce or import with partner brands in Korea, we aim to provide for our customers a unique experience found nowhere else” he continued.
The retailer already has a shop off Oxford Road in Manchester, as well as a series of stores in London. In regards to its new Manchester Arndale storefront, Oseyo has signed a 15-year lease for the former H&M unit, which is located on the mall’s upper floor between Specsavers and HMV.
The Manchester Arndale is joint asset managed by M&G Real Estate and Global Mutual.
Global Mutal head of European retail asset management Steve Gray welcomed the Oseyo letting.
“We place great importance on creating a mix that caters to the city’s diverse taste and we are certain Oseyo will fit the bill,” Gray said.
“With such exciting leasing activity taking place it’s clear there is continued demand for well-placed retail units, and we are delighted to see confidence in Manchester Arndale’s long-term performance; we hope to share more exciting news soon.”
Metis Real Estate and Time Retail Partners represented the Manchester Arndale on the deal with Oseyo. Oseyo was represented by Whitby Smith.
Oseyo is the latest in a string of lettings at the shopping centre. Sunglass Hut signed a 10-year lease for 932 sq ft last month and Black Sheep Coffee took on a 20-year lease for 4,200 sq ft in May.
That same month, The Works extended its lease for a 3,350 sq ft store by five years. Manchester City also opened a storefront at the mall in May.
Other lettings this year have included a 3,700 sq ft Krispy Kreme and a 50,000 sq ft Sports Direct.
