The first tenant for he revamped former Debenham’s building in the centre of Mannchester has been announced
AM ALPHA, a global family office for real estate investments, the people behind the transformation of Rylands,has signed its first retail tenant, securing iconic London Food Hall Market Place for a long-term lease on the ground floor, marking an essential step in the repositioning of this historic property and the first step in Market Place Food Hall’s ambitious northward Indoor food venue, Market Place is renowned for its socially focused street food venues across the capital and hosts a wide range of flavourful, vibrant food choices from around the world. The popular street food collective has committed to a 15-year lease
covering approximately 1,300 sqm.
With five existing locations across London – including Peckham, Vauxhall, and the newly opened site in St Paul’s – the new site at Rylands represents the brand’s first venture outside the capital, underscoring its ambitions to expand in the North of England
and bring its signature flavours northward.
“Market Place chose to commit to Rylands nearly two years ahead of completion, which is a strong signal and a clear vote of confidence in the quality and ambition of our vision,” says Paul Hodgkiss, Senior Project Manager at AM ALPHA. “Securing such a lease at this early stage of the refurbishment underscores the appeal of the scheme and demonstrates that we are setting a new benchmark for mixed-use urban developments, not only in Manchester but across the 
2023, AM ALPHA has been transforming the site, including a complete refurbishment of the original structure, conversion of the upper floors into premium office space, and the creation of a retail arcade at ground level.
The scheme also includes a new four-storey extension, bringing the total number of floors to ten upon completion. Once finished, Rylands will offer high-quality office accommodation, retail space, and a leisure area focused on food and beverage.
“Manchester is a city with a vibrant cultural scene – the perfect environment for forward-thinking concepts like Market Place Food Hall,” says Paul Hodgkiss. “And the early commitment to Rylands is no coincidence: it reflects the strength of our strategic and forward-looking approach to development. We are not just creating high-quality space – we are setting new standards for urban mixed-use concepts. Interest from further prospective tenants is strong.”
Blake Henderson, Managing Director of Market Place said: “Rylands represents the perfect location for Market Place to open the doors to its first northern food hall. At the heart and hub of the city, it blends tradition and culture with the changing
tastes of food, with socialising at the core. We’re excited to start work and welcome our first customers through the door.”
