Retailer Invests in Physical Retail and Online Presence Simultaneously
- Footasylum renews lease for 20 more years in Manchester Arndale
- Expansion into a 17,000 sq ft flagship unit
- Full refit to showcase full range of products and brands
- Investment in physical retail alongside online presence
- Follows lettings to Arc’teryx, Alo Yoga, and ProDirect
- Manchester Arndale records 46 million visitors in 2024
Footasylum, the trainers and apparel retailer, has renewed its lease at Manchester Arndale for another 20 years and plans to expand its store into a 17,000 sq ft flagship unit. The company is currently undertaking a full refit to create a larger space that will showcase its entire range of products and brands. This expansion is part of Footasylum’s wider investment in physical retail alongside its online presence. The decision follows recent lettings at the shopping centre to other brands like Arc’teryx, Alo Yoga, and ProDirect. Manchester Arndale, which houses fashion, beauty, and leisure operators such as BPerfect, Trailberg, Pureseoul, Hotel Chocolat, Sides, and Urban Playground, recorded 46 million visitors in 2024. Steve Gray, head of European retail asset management at Global Mutual, said: ‘We are thrilled that Footasylum has chosen to not only renew but significantly expand its presence at Manchester Arndale, which is a testament to the centre’s strength and ability to attract and retain leading retail brands.’
Factuality Level: 8
Factuality Justification: The article provides accurate information about Footasylum’s decision to renew its lease and expand its store at Manchester Arndale for 20 years, the refit of the store, and the center’s visitor numbers. It also mentions other recent lettings at the shopping centre. However, some details like the exact year of the visitor count (2024) seem incorrect or unclear.
Noise Level: 6
Noise Justification: The article provides information about Footasylum’s decision to renew its lease and expand its store at Manchester Arndale for 20 years, as well as mentioning other recent lettings at the shopping center. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions. It also does not offer significant actionable insights or new knowledge.
Financial Relevance: Yes
Financial Markets Impacted: The decision by Footasylum to renew its lease and expand at Manchester Arndale shopping center impacts the commercial real estate market and potentially affects the performance of the retail sector.
Financial Rating Justification: This article discusses a retail company’s decision to renew its lease and expand its store, which can impact the commercial real estate market and may affect the retail industry’s financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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