HYDE’S Clarendon Square shopping centre has new owners and may be given a new direction.
Irish firm Martin Property Group has taken the mall on from Dutch pension fund Stichting Mars Pensioenfonds (SMP).
Now its new people in charge are conducting an examination of what can be done to improve what has become an increasingly empty area.
B and M Bargains are the latest company to move out and a report is being compiled over how to bring new life to the town’s high street.
And Gary Martin, of the firm, said: “We will be focused on stabilising, repositioning and where possible developing the assets further.
“We are delighted to complete this transaction and become the custodian, particularly at time where shopping centres require hands on asset management.
“We look forward to working with the council as they will be an important part of the future success.”
SMP decided to sell the company following the outcome of a strategic asset liability review and it chose Martin Property Group based on the expectation it will be best able to support the long-term potential.
Price Waterhouse Cooper acted as lead advisor on the transaction, which involved six shopping centres around the country.
Their deals partner, Mark Addley, said: “We are pleased to have successfully delivered this transaction which demonstrates there is continued interest in supporting and investing in UK high street assets underpinned by a solid strategy, even though we are facing challenging economic headwinds.”
Hyde town centre is the focus of a High Street Task Force (HSTF) study, under the banner of ‘Unlocking Your Place Potential.’
It said: “We believe Hyde can improve its partnerships and communications with business leaders and the wider community.
“Stronger partnership between the council, businesses and the wider community will also build more capacity for making change in the town.
“A more co-ordinated approach will ensure greater impact from any investment and interventions, whether they are initially led by the public, private or voluntary sector.”
Now it has sought quotes from firms who want to come up with a masterplan for a centre that has been criticised by many.
In procurement documents, it noted Hyde’s town centre has suffered as competition increased from neighbouring communities and retail combatted both the pandemic and the rise of e-commerce. .
It would also create “inviting” pedestrian routes between the railway station, bus station and town centre and within the town centre itself.
Tameside Council noted that the core of the town centre is lacking in “good quality open, green and landscape areas where people can dwell.”
Whoever the authority picks in the coming days and weeks will create frameworks designed to promote the town centre, attract investment and secure confidence in Hyde’s future.
It will also include both long-term plans as well as ones that can be delivered within two to five years.
Retail and particularly Shopping Centers are in the doldrums, so this was inevitable and it all seems to be going in more or less the same sort of direction as Spindles in Oldham which has been bought by OMBC and is currently undergoing refurbishment and reducing the number of retail units.
If hyde need people then give tameside what they want a primark that will bring people to hyde
I think Hyde need to take a look at the busiest shops in places like crown point, Ashton and Stockport.
Primark, TK Maxx, JD sports, Matalan etc.
There is so many people that live in Hyde and local surrounding areas that avoid Hyde at all costs because there is nothing there of any worth these days unless you want a pound shop, mobile shop or cafe.
Only yesterday I walked out though Hyde with a friend and we was talking about the shops that have come and gone over the years and reminiscing about how good Hyde used to be 10+ years ago.
we need a primark and other known shops a perfume shop a decent music shop and a shoe shop shops like this will bring people to hyde ive worked in the mall for 17 years ive seen shops just closing its a shame this is what it needs the rents on the shops need to be dropped at least until the mall is worth shopping in
Hyde has a decent music shop on. Market St that has been bringing people in the town for 40 years.
Hyde Together CIC (community interest company) formed in May of this year has been created by a group of volunteer residents and business leaders. The company has been formed to improve Hyde and promote and encourage investment and all that is good about the town. Anyone over 18 who is motivated to improve Hyde and make a difference for the community is encouraged to consider membership by applying initially via email to hydetogethercic@gmail.com where further details will be made available. Membership for both individuals and businesses is free. Hyde Together CIC is professional and forward looking company that holds regular meetings, it is also a “consulted for regeneration” with Tameside MBC .
We need a good shopping centre like bury then we don’t have to travel to get what we want.
Primark, Matalan, ( which was moved to Ashton why?) Shoezone, Spordirect or jd..All that is in hyde now is cafes which is good if you want to do a proper shop around shops but can’t! Charity shops which are good, nail bars..Havnt even got a Proper Market locally, have to go all the way to Bury on train, buese and tram as I live in Hattersley 3 miles up from Hyde