Go Outdoors takes former Ilva space

Town Centre Securities has let 55,000 sq ft in Urban Exchange, part of its Piccadilly Basin development in Manchester, to Go Outdoors.

Urban Exchange is now 60% let and there are two remaining units on the ground floor. The building was vacated when Danish furniture retailer Ilva went into administration in 2008.

Edward Ziff, chairman and chief executive of Town Centre Securities, said: "Go Outdoors are a very well established retailer operating in a growth market and I am confident that they, along with existing tenant Aldi, will assist in re-establishing Urban Exchange as a major retail destination.

"We continue to focus on managing our portfolio and since the year end we have also agreed to dispose of two small properties in Kings Lynn and Bradford for £1.4m. Our portfolio voids are now below 5%, down from 6.8% as at 30 June 2010."

Shares in TCS were up 2p at 162 by 10.30am, valuing the business at £85m.