Schroder Real Estate (Schroders) has agreed terms to bring franchise-led brand Triple Two Coffee to Manchester city centre’s landmark City Tower building.
The fast-growing food and drink chain operates throughout the UK and the Manchester store will be the first in the north of England.
Triple Two Coffee has taken over 1,600 sq ft of space across the ground floor on a ten year lease and is expected to open late February.
The new store will add to Triple Two’s existing portfolio of 55 sites and will form part of the brand’s ambitious growth plans as they aim to open 100 stores over the next three years.
Rob Cosslett, investment manager, at Schroders said:
“We are really pleased to announce Triple Two Coffee as a future tenant at City Tower. This new addition is reflecting our strategy of continuously improving the retail offer at City Tower and will be a very positive addition to Parker Street.
“This is a national, fast-growing food and drink chain which will complement and enhance the existing offering. Triple Two Coffee is set for a rapid expansion all over the UK, and we feel privileged that City Tower has been selected to be the first destination in the north.”
Russell McGill, associate director in Savills’ Manchester retail team, comments:
“The retail and leisure offering at City Tower has developed significantly, and the addition of Triple Two Coffee bolsters the recent deals struck with Lidl and Freshly Chopped. The result is a diverse tenant mix in the building which can support the needs of occupiers and really help create that ‘vertical village’ feeling.
“The excellent location of City Tower and its prominence within the city centre makes it a fantastic home for a quality blend of operators.”
City Tower is owned in a joint venture held between Schroder Real Estate Investment Trust, the actively managed UK REIT, Schroder UK Real Estate Fund and Immobilien Europa Direkt.
The Savills retail team advised Schroders on the deal.