Manchester a key target for overseas retailers

MANCHESTER is the most sought-after location outside London for retailers looking to set up shop in the UK, according to a new report.

The city has been ranked at number 33 of the top 200 cities worldwide as a target for retailers, according to property advisor CBRE’s latest report, How Global is the Business of Retail?

Liverpool also features on the list at number 56, ahead of Leeds (71) but below Birmingham (47). London reclaimed its top spot on the list after sharing the position with Dubai last year.

Graham Barr, director of retail at CBRE, said: “It is encouraging that Manchester is rated so highly within the report, although not hugely surprising.

“The city is a popular retail destination, with a wealth of high quality premises available to attract leading retailers, and the transport infrastructure investments currently underway will further increase footfall into the city.”

He continued: “Retailers are choosing countries like the UK that are considered safe havens, having de-risked their operations in response to the challenging economic climate.

“Generally, retailers do look to London as a first port of call, extending their remit into the regions once their London operations are firmly established.

“Major regional shopping centres such as the Trafford Centre, Meadowhall and Bluewater have performed particularly well.”