The retail
market is stirring in Bury. The town’s famous
market might still the main draw for coach trippers but Scottish Widow’s recently
announced sale of the Mill Gate Centre hails the prospect of fresh retail
investment and lettings at a key town centre asset, which relinquished occupiers
to Thornfield’s The Rock, just as the recession bit hard.
Here’s a quick roundup of what’s happening in Manchester’s northern outpost.
The Rock
Bury is still adjusting to The
Rock, which opened in summer 2010, adding 74,000 sq.m of retail space, Vue
cinema, AMF bowling and the town’s first clutch of chain restaurants. The scheme delivered large floorplate units, attracting
debutants Primark, Debenhams and Superdry.
Others transferred from traditional prime areas in the Mill Gate Centre,
notably M&S, but several vacancies remain following early tenant churn. More development is promised, adding four
restaurant / café units at the west end of the scheme on the Sol Viva nightclub
site. Permission was secured in 2013 and
the site is ready to go.
The Mill
Gate Centre
Contracts
were exchanged in June for sale of The Mill Gate Centre by Scottish Widows for
about £52 million. InfraRed Capital
Partners is acquiring and will hope to reduce voids caused by tenant failures
and defections to The Rock. It retains
BHS as anchor, along with Boots, New Look, Specsavers and
Waterstones. There is potential for
reconfiguration of the mainly covered centre.
Scottish Widows drew up a development plan after its purchase in 2005
but the recession that followed and shift of focus to The Rock meant nothing progressed.
Bolton
Street
Bury Council
granted planning permission in September 2013 for a 12,000 sq.m foodstore on
the vacant police HQ site and leisure centre, at Bolton Street, on the western
edge of town. The Council’s partner ASK
Developments, must ensure relocation of the leisure centre to nearby Knowsley
Street. Morrisons and Sainsburys were rumoured
as a potential occupiers - neither is represented in the town - but local
agents doubt the retailer appetite for a large store. The permission is the subject of judicial
review by rival developer Morbaine, which has aspirations for a foodstore
across town at Derby Way. Morbaine’s
challenge was initially rebuffed by the courts but a subsequent hearing in
March 2014 determined there were legitimate grounds for challenge. Negotiations are ongoing between the parties;
Council Officers say it might lead to cessation of the proceedings.
Derby Way
Morbaine has
options on 2.4 hectares of land east of The Rock, occupied by First Bus. Planning permission for a 10,500 sq.m
foodstore was refused in September 2013, at the same committee that approved
the Council’s alternative Bolton Street scheme.
Sainsbury’s was associated with the site but, like Bolton Street, sentiments
seem to have changed and the retailer is unlikely to commit.
Woodfields
Retail Park
A Tesco
British Land JV, anchored by the eponymous retailer on the northern edge of the
town centre, off Peel Way. Tesco’s superstore is dominant in the town and likely
to be extended to add dot.com facilities, servicing a growing demand for multi-channel
retailing. A planning application is with
the Council. The retail park is fully
let, home to Boots, Next, Sports Soccer, Currys and JD Sports.
Moorgate
Retail Park
Located on
the east edge of the centre, Moorgate is recovering from the failure of MFI in
late 2008 and Comet in December 2012. Home Bargains mopped up the former MFI
unit about 12 months ago – its third outlet in the town. The Comet space remains available 18 months
after the shutters came down, but is the only vacant retail warehouse in town.
Other Town
Centre Retail Parks
Angouleme
Retail Park (George Street) and Halls Retail Park (Foundry Street) complete the
line‑up of town centre retail parks, fully let and neighboured by Asda and Matalan
stores on the southern edge of the retail core. Key occupiers include Argos, TK
Maxx, Smyths Toys and Pets at Home.
Elton
Further
afield, 0.8 mile west of the town centre, Lidl is seeking consent for a store at
Victoria Street. The Council refused permission
in September 2013, concerned about the site’s out-of-centre location and loss
of employment land. Lidl has appealed
and awaits a decision. In the meantime
Aldi has stolen a march on its discount rival, securing space at the
neighbouring Crostons Retail Park, ending a patchy period for a former Netto
store, which has seen several occupiers come and go since its closure in 2010,
ironically just as Netto makes a return to the UK market.
Park 66,
Pilsworth
Park 66, at
junction 3 of the M66, 1.5 miles south east of Bury town centre, is a mothballed
leisure investment next to Asda’s established superstore. Mutil‑screen cinema, bowling and restaurant
buildings were vacated following movement of tenants to The Rock. A standalone Pizza Hut continues to trade. Marketing in 2010 generated interest for
retailing, subject to planning, but nothing made it off the drawing board. The site is being marketed now - offers are
due in any day and likely to see industrial or warehousing emerge as the preferred
use.