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Manchester mall sets out cheap rent scheme

Manchester’s Triangle shopping centre is offering independent retailers shop units to rent for as little as £500 a week to encourage them to open in the scheme.

The centre, which has been hit by the revival of the nearby Arndale Centre, wants to fill 10 vacant shops and is offering a more flexible unit pricing structure to indies.

Various sized units are available and are priced from £500 a week, including service charges, rates, electricity and water, on a minimum contract term of six months.

The Triangle is running at 65% tenant capacity at present, with 27 out of 43 units occupied.

A spokesman for Aviva, the landlord of the Triangle shopping centre, said: “The current climate requires flexibility and transparency more than ever before. By offering this alternative structure, we are providing a better solution for retailers than long-term leases with hidden costs. We believe it would particularly appeal to independent retailers, supporting smaller innovative businesses.”

It was unclear how the new pricing architecture will affect existing tenants at the Triangle.

The spokesman said: “In relation to existing tenants, we are always in contact and correspondence with them over all matters affecting the centre, and this announcement is no exception.”

Maria McGreevy, owner of young fashion indie Unique Boutique, which has traded at the Triangle for three years, said: “In the shop we get asked why there are so many units empty and you almost have to reassure the customers. Good quality independents in the scheme is what we need.

“Generally if they are going to get indies in, it can only be a good thing. I’m next to an empty unit and to have other like-minded indies in there it would benefit me and bring more people to the centre and boost my customer base.”

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