Plans for Manchester's Corn Exchange revival
Manchester's Triangle shopping centre could revert to its former name, the Corn and Produce Exchange, under plans being considered by the city council.
The Grade II listed building was badly damaged in an IRA bomb in 1996 and had to undergo significant refurbishment. It reopened as the Triangle in 2000.
But a report to the city council's executive said the new centre "has not been a commercial success".
It is hoped it will be revamped to "become Manchester's Carnaby Street".
The current owners, Aviva, commissioned a review of the reasons behind its poor performance, the report said.
The company found the Triangle failed to attract and retain the brands to make it a successful shopping centre.
The redevelopment of other areas including the Arndale and Selfridges also meant the Triangle was on the edge of the centre, it said. There are were issues with access, the size of the stores and the fact that all shops face inwards.
The review found "two functions of fine dining and independent retailing could provide a truly differentiated offer for the Corn Exchange that would create a special destination, providing Manchester city centre with a new and highly individual attraction".
The Triangle as a name was "weak", the report found, so the plans include reintroducing the name Corn and Produce Exchange.
The plans are due to be considered by Manchester City Council's executive on Wednesday.
Councillor Pat Karney, the council's city centre spokesman, said: "We're really excited about these plans for Exchange Square which have the Corn Exchange at their heart.
"Not only will the magnificent building be brought back to its former glory, but it will also be enhanced to create a real 21st Century shopping and social experience.
"We want to see the Corn Exchange transformed into the Carnaby Street of the North, which will of course have its own unique Manchester twist."
There are already proposals to create a Metrolink stop in Exchange Square, in front of the Triangle.