Triangle owner plans new strategy
THE owner of Manchester’s Triangle Shopping Centre is attempting to reposition as Manchester’s answer to Covent Garden or Chelsea’s Kings Road.
Aviva Investors’ proposals to reshape the ailing centre and reposition it to attract more fine dining outlets and upmarket independent retailers.
Aviva is also proposing to rename the centre and to remodel the building with new “glass box” extensions jutting out onto street level at Exchange Square and Fennel Street.
Other proposals include alterations to the building’s various entrance points and improving the public realm outside the centre – particularly to provide better access from the front entrance to the proposed new Metrolink stop that will be built as part of the second city crossing.
The plans have been presented as part of a new vision and strategy document, which will be considered by Manchester City Council’s Executive next week.
It argues that the centre “has not been a commercial success despite its strategic position at the edge of the retail core”.
Initially, it was envisaged that when the redeveloped Corn Exchange building reopened as The Triangle in 2001 following the IRA bomb, it would benefit from its proximity to the new Selfridges and Harvey Nichols stores, as well as the upmarket retail units on New Cathedral St.
However, Aviva argues that subsequent public realm developments and the siting of the Manchester Wheel had detached the centre from these units, and from the redeveloped Arndale centre.
Planning officers said that the centre “currently marks the edge of the retail offer in the city centre”, and that the centre is too-inward-looking with weak entrances and poorly-configured units which do not appeal either to major retailers or to independents.
It adds that there has been a “consistent lack of clarity” in its positioning as part of the city’s retail offer, and that previous attempts to address its problems had failed because its ownership kept changing.
Aviva Investors Property Trust had itself put the building on them market three years ago. It inherited the centre from Norwich Property Trust, which paid £67m for the building in 2005.
However, it is now looking to reposition its offer to take advantage of other nearby development, including Co-operatives NOMA scheme and the redevelopment of Chetham’s School of Music and Manchester Victoria Station.
“The intention would be to create a destination similar to Covent Garden, Carnaby Street, Marylebone High Street, Duke of York Square (Kings Road, Chelsea) and Spitalfields,” the report states.
Existing restaurants such as the Conran-inspired Zinc Bar & Grill, Tampopo and a branch of the Zizzi chain have worked well, and Aviva has said there is “significant market interest” from new operators.
The report also indicates that talks are underway for new retail uses including a specialist Italian family food shop, a specialist barbers and an independent coffee shop. It acknowledges, however, that some independents would need greater support (including flexible leases) to prosper.
