Following the consent for a detailed planning application, Irish Life Assurance is set to redevelop two retail units at 42 - 46 Market Street in the heart of Manchester’s retail core to create a substantial new flagship store.

The two units, located in a prime position opposite the entrance to the Arndale Centre, currently comprise the former Shelleys store and existing Schuh unit, which will be combined to create one store providing up to 20,000 sq ft (1,858 sq m) of retail space over five floors. Schuh will relocate to new premises in the city.

David Eggers at Irish Life Assurance, comments: "We purchased this site several years ago with a long term view to developing it into a flagship store so we are very pleased that our planning application has been successful and we are now on track to progress our strategy. The two existing properties occupy a prominent position within the city’s retail hub thus providing an ideal flagship opportunity."

Mike Knowles, Associate Director, the appointed letting agent, adds: "Despite the continued challenging economic climate, Market Street has remained one of the busiest high streets in the UK and the creation of a new flagship store will help to strengthen its already impressive tenant line up by hopefully securing a new brand for the Manchester market."