Land Securities acquires Manchester's Printworks leisure scheme

5 November 2012

The Printworks main story

Land Securities has acquired The Printworks, central Manchesterís dominant leisure scheme for £93.9m.

The Printworks was developed in 2000 and is prominently located in central Manchester. It attracted over nine million visitors in 2011 and is close to excellent transport links, the Manchester Evening News arena (MEN), the Arndale centre, Harvey Nichols and Selfridges.

The scheme comprises over 350,000 sq ft of leisure accommodation and is currently 93% let with a weighted average unexpired term of 12.9 years. It houses an excellent variety of occupiers including the only IMAX cinema in Manchester, a Virgin Active health club, national restaurants and some nightclub and bar operators.

Commenting on the purchase, Land Securities’ Executive Director Richard Akers said:

“Leisure is not subject to the same structural changes currently occurring in retail and its importance in how and where people choose to shop is growing. The Printworks is the dominant leisure scheme in one of the top cities in the UK and its acquisition builds upon the significant relationships we have across our portfolio with leisure operators.”

Ends

Notes to Editors

• A photo is available on request

Major occupiers at the Printworks include:

Odeon Cinemas
Virgin Active
Tiger Tiger
JD Wetherspoons
Café Rogue
wagamama
Chiquitos
Hard Rock Café
Nandos
Wasabi Sushi
Harvester
Prezzo
Waxy O’Connors
Norwegian Blue
Henry J Beans

For further information, please contact:

Land Securities Group PLC

Media
Donal McCabe/ Naomi Curtis
T: +44 (0)20 7024 5460/ 5411
Donal.mccabe@landsecurities.com

Investors
Ed Thacker / Melanie Shaw
T:+44 (0)20 7024 5185 / 5255
Edward.thacker@landsecurities.com


Land Securities acquires Manchester's Printworks leisure scheme

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