Case Study: The Shambles Square Shopping Centre, Market Street, Manchester
Roger Hannah & Company were appointed by Manchester City Council to represent their interests in negotiating compulsory purchase order claims by retailers affected by the regeneration proposals for the redevelopment of The Shambles Square Shopping Centre, Market Street, Manchester.
The City Council's Shambles Compulsory Purchase Order was the key to the regeneration of the whole of the city centre following the IRA bomb. The development included the flagship Marks & Spencer retail unit as well as opening up Exchange Square leading to the redevelopment of the Corn Exchange. As part of the regeneration, new retailers have entered the Manchester retail arena including Harvey Nichols and Selfridges.
The Senior Partner at Roger Hannah & Company, Roger Hannah, undertook a number of negotiations with claimants including :- McDonalds Restaurants, Safeway Supermarket, Nationwide Building Society, Skipton Building Society as well as Mynshull House, a city centre office building.
Many of the compensation claims required a detailed understanding of compulsory purchase principles and practice. This understanding led to their significant reduction in claims. For example, the loss of profit claim by Skipton Building Society was reduced from their initial claim sum of £1,000,000 down to a settlement figure of £70,000. Our negotiations involved close liaison with forensic accountants.
The above example illustrates the experience Roger Hannah & Company has in undertaking high profile compulsory purchase order claims on significant city centre retail schemes.