Irish Assurance has secured planning permission for the redevelopment of two retail units on Market Street in Manchester city centre.
HOW Planning, which secured planning on behalf of the owner of the buildings, said the retail units will create an opportunity for a new flagship store.
Richard Barton, principal planner at HOW Planning, said: "The corner unit has always been a very difficult location for retailers due to the lack of ground floor retail space. Creating a single unit with the larger adjacent unit will create a major opportunity with space on both the ground and first floor, and will significantly improve the attractiveness of the property."
Barton added that the new development will combine with the existing Schuh store, located next door at 44-46 Market Street, which is relocating to other premises within the city centre, and plans also include the provision of office accommodation on the floors above.
Savills, the letting agent on the buildings, told Place the space measures 20,000 sq ft in total across five floors and is still being marketed.
Savills did not disclose information on any current interest in the premises.