Henderson Global Investors, on behalf of its flagships £1 billion (approx. €1.18 billion) Retail Warehouse Fund, has received detailed planning permission for a foodstore led regeneration at Central Retail Park, Manchester. The Fund is investing £40 million (approx. €47 million) in the 210,000 ft² (approx. 19,510 m²) scheme.
Central Retail Park on Great Ancoats Street is an established retail park on the edge of Manchester city center. Having recognized that the Retail Park was in need of refurbishment and reconfiguration to maximize its future potential as an important retail destination for the residents of Ancoats, New Islington and the city center, Henderson submitted a planning application at the end of last year.
The application, which was approved at Manchester City Council’s Planning and Highways Committee Meeting on 30 May, will see the demolition of the retail units on the eastern part of the site, making way for a new 90,000 ft² (approx. 8,360 m²) supermarket, cinema and smaller retail units with undercroft car parking. The scheme will also refurbish and upgrade four retained retail units.
A key design enhancement of the scheme, designed by Hadfield Cawkwell Davidson, is the creation of a new pedestrian link at the heart of the development, linking the new foodstore and the retained retail units. This link will provide access and improve permeability from Great Ancoats Street to Cotton Fields Park and the neighborhoods beyond.
The advisory project team for the project included planning and urban design consultant, Turley Associates and Hadfield Cawkwell Davidson as masterplanners and architects.
Katherine Friend, Head of Asset Management, Retail Warehousing at Henderson, said: “The redevelopment at Central Retail Park will crucially expand our tenant mix in the center, benefitting both its retailers and consumers alike.
“In this new age of retailing, bricks & mortar is increasingly required to offer a first class retail experience. It’s our job as landlords to work hard to create retail destinations which provide the ultimate customer service and a retail and leisure offer that cannot be replicated digitally.”
Councillor Jim Battle, Deputy Leader of Manchester City Council said: "These plans will breathe new life in to this part of Great Ancoats Street , expanding the boundaries of the city center and adding a quality new development for the residents living in New Islington, Ancoats and the city center."
Work on the site is expected to begin on site later in the year.
Source: Henderson
