Mill Gate, Bury

Hark, working in Partnership with Infrared Capital Partners, is the Asset and Development Manager for Mill Gate Shopping Centre in Bury. Hark is also working closely with Metropolitan Borough of Bury and the Manchester Diocesan Board of Finance as the two other major stakeholders in the asset.

Mill Gate dominates Bury town centre, comprising 400,000 sq ft of covered space including 140 shop units and main car park for the town. Immediately adjacent to the scheme is the world famous Bury Markets, reportedly the best Market in the UK. The bus station and tram station are also adjacent to the scheme, along with the main Council offices and student Colleges of Bury.

The scheme was purchased as an under-invested and underperforming shopping centre. Through a targeted leasing strategy and focused investment, the scheme has been transformed into a multi-anchored, successful community centre. Serving a loyal catchment in the heart of Bury's retailing offer, with a footfall of 11.7m in 2018.

Highlights since the asset was purchased:

• The void rate has gone from 35% to 4%
• 2 new anchor stores have been opened (TJ Hughes and the B&M)
• A raft of new retailers have opened including Pavers, Savers, Yours, Romans, Peacock and Bond Street Shoes
• Hark oversaw the successful relocation of the WC's to a struggling mall. This not only drastically improved footfall to this area of the scheme, but has resulted in the mall being fully let for the first time.

Hark, continue to work closely with the Metropolitan Borough of Bury and the Manchester Diocesan Board of Finance to see how Mill Gate can help evolve and continue to regenerate Bury Town Centre.

http://millgatebury.co.uk/