Arndale was badly damaged and was remodelled when this area of the city centre was redeveloped. The glass domes of the Corn Exchange and the Royal Exchange were blown in. The landlord of the Corn Exchange invoked a force majeure condition in the lease to evict all tenants, and the building was converted into a shopping centre. The dome of the Royal Exchange shifted in the blast; its reconstruction took two and a half years and cost £32 million, paid for by the National Lottery. The possibility of rebuilding parts of the city centre was raised within days of the bomb. On 26 June 1996, Michael Heseltine, the Deputy Prime Minister, announced an international competition for designs of the redevelopment of the bomb-affected area. Bids were received from 27 entrants, five of whom were invited to submit designs in a second round. It was announced on 5 November 1996 that the winning design was by a consortium headed by EDAW. Redevelopment Much of the 1960s redevelopment of Manchester's city centre was unpopular with residents. Market Street, near the explosion and at that time the second-busiest shopping street in the UK, was considered by some commentators a "fearful" place, to be "avoided like the plague". Until Margaret Thatcher's third consecutive election victory in 1987, the staunchly Labour-controlled Manchester Council believed that Manchester's regeneration should be funded solely by public money, despite the government's insistence on only funding schemes with a significant element of private investment. Graham Stringer, leader of Manchester City Council, later admitted that after the 1987 General Election result "there was no get out of jail card. We had gambled on Labour winning the General Election and we lost." Thatcher's victory effectively put paid to Manchester's "socialist experiment", and Stringer shortly afterwards wrote a letter of capitulation to Nicholas Ridley, then Secretary of State for the Environment, saying, "in a nutshell; OK, you win, we'd like to work together with you". Efforts at improvement before the bombing had in some respects made matters worse, cutting off the area north of the Arndale Centre – the exterior of which was widely unloved – from the rest of the city centre. A large building nearby, now redeveloped as The Printworks and formerly occupied by the Daily Mirror newspaper, had been unoccupied since 1987. Many locals therefore considered that "the bomb was the best thing that ever happened to Manchester", as it