The M.E.N. can reveal why the project is delayed - and why House of Fraser has benefitted from ‘effectively a rent-free lease'
The huge revamp of the Kendals department store has been hit with delays — meaning its owners now need to ask the council for more time to complete the work.
READ MORE: The makeover plans coming to Piccadilly Gardens' concrete pavilion - as the council legally can't knock it downIn the Kendals case, delays mean that work hasn’t started — nor is it likely to start before June 2024, when that permission expires — as final designs have not yet been finished, which is a process that could take over a year. Owners Investec are therefore seeking to reset the clock with a new bid.
Essentially, it’s to ensure that Deansgate doesn’t suffer before the redevelopment completes. The letter explained: “ recognises that this is a high profile and prominent site which, if left vacant over a long period of time, would have a significant adverse impact on Deansgate as a busy route through the city centre.
The council owned a 153-year lease on the car park, with ‘the terms of that lease preclud the delivery of the development’, the letter said. The issue with the project is distilled into one sentence in the letter: “In essence, the viable delivery of the scheme, and therefore the ability to commit further funds to the development, was dependent on addressing the leasehold constraint.”
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