M&G Real Estate and Intu have attracted Paul Smith to New Cathedral Street, striking a deal at the 3,000 sq ft former LK Bennett unit next to Harvey Nichols on a 10-year lease.
Colin Flinn, regional director at Intu, said: “We are really excited to be adding such an iconic British fashion brand to Manchester city centre’s line up. Paul Smith’s arrival in the city demonstrates the strength of Manchester as a core ‘must trade’ location for leading fashion brands.”
M&G and Intu own the parade on New Cathedral Street and nearby Manchester Arndale shopping centre in a joint venture partnership.
Flinn continued: “Looking forward, we expect occupier demand to continue to grow for Manchester retail real estate – both in New Cathedral Street and Manchester Arndale and we want to build on this latest deal to attract more exciting premium, design-led brands to the city.”
M&G Real Estate and Intu are also expanding the restaurant and café offer for the city, having recently announced their investment of £11m in the redevelopment of the Arndale’s Halle Square, which will become Halle Place, a new casual dining destination at the heart of the centre.
The retained agents for the centre and for the New Cathedral Street parade are JLL and Metis Real Estate Advisors. Harper Dennis Hobbs acted on behalf of Paul Smith.
Paul Smith is due to open in New Cathedral Street this autumn. Paul Smith previously had a store in The Avenue, Spinningfields.