Property briefs: Ingall wants New York spin on Spinningfields, and more
MIKE Ingall, the chief executive of Spinningfields developer Allied London, said he wants the area to give independent businesses the chance to rub shoulders with established brands.
Speaking at the launch of a series of tiered lawns in Hardman Square, Mr Ingall said he took inspiration from international destinations such as the Meatpacking district of New York and the Marais in Paris.
He said: “Our ambition is to now evolve our retail and restaurant offer to attain similar national and international reputation.
“We’re inspired by what we see happening in other international cities, particularly areas like the Meatpacking district in New York and the Marais in Paris, where the most innovative, independent businesses get an opportunity to operate alongside premium brands. With the creation of a high quality, original and unique urban eating, dining and leisure area, we genuinely believe that we can evolve Spinningfields into a must-visit destination for visitors and tourists alike.”
Mr Ingall confirmed that restaurant operator Living Ventures is set to open three new Spinningfields venues: Manchester House Restaurant & Lounge at Tower 12, Artisan in Avenue North and Pacific Bar & Garden on The Avenue.
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SALFORD-based asset management company Spectrum has sold a 106,000 sq ft Cineworld complex in Cardiff for £19m.
The complex which is next to the St David’s Shopping Centre on Mary Ann Street in Cardiff has been acquired by a fund managed by Henderson Global Investors.
Spectrum is a specialist fund management, asset management and debt advisory company which holds properties across a range of sectors including food stores, leisure schemes, offices, high street shops and industrial units. It was advised by the Manchester office of law firm Irwin Mitchell.
Property partner Patrick Duffy said: “This is a significant deal for Spectrum. We are delighted to have worked on it and more importantly, secure a successful outcome for our client.”
Mr Duffy moved to Irwin Mitchell in February as part of the firm’s appointment of a 14-strong real estate team from DLA Piper.
