FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
Rw property nov 2012
1. Retail hot spots
Why retailers are becoming more selective when it comes to location
● Perfect space quality over quantity matters for retailers' expansion plans
● Expert view the challenges facing the retail property market now and in the future
● The entertainer the leisure and retail mix is evolving to increase footfall and dwell time
● The capital and beyond the property needs of international retailers coming to the UK
RetailWeek
PROPERTY
November 2012
2. prologis.co.uk
Prologis is a leading provider of distribution buildings with over
800 acres of strategic land across the UK, including 200 acres
that is fully serviced and ready for development.
You can never have too many
shoes. Or can you? If your current
distribution facility is feeling a little
tight, Prologis has land and buildings
available in strategic locations at a
size to suit you.
We can deliver a new, sustainable
warehouse on as little as a 5 year
lease basis including a full generic
fit-out. And what’s more, you
could save up to £500,000 p.a.
in running costs alone.
As if you needed an excuse…
Your local partner to global trade
4. 4 RWP | November 2012 | retail-week.com
W
hile new retailers from the US
and Europe scour London for
their next shiny flagship, the
UK’s northern towns face the
grim prospects of boarded up high streets and
declining centres, as Britain becomes a polarised
retail market in the midst of a social shift.
This stark scenario is painted in some quarters
as many statistics indicate that Britain has become
divided geographically, with the affluence line
drawn across the Southeast. For example, UK
shop vacancy rates hit a 14.6% average in the
first half of the year. The Northwest was hardest
hit, recording a 20.1% vacancy rate, according to
analysis by retail location data firm Local Data
Company (LDC).
Northern-based retailers such as Morrisons,
B&M Bargains and Wilkinson have also set their
sights on growth in the South from their tradi-
tional bases in the North.
But can such a black and white picture of
Britain’s retail property market have emerged so
quickly in the fall-out from the recent recession?
After all, most of the UK’s regional cities have
thrived over the past two decades, with a series
of retail schemes transforming the centres of
Liverpool, Birmingham, Bristol, Manchester and
Glasgow,among others,and Leeds being the latest
to be going through the redevelopment process.
“I would not so much divide it along North-
South lines but across primary and secondary,”
says Jonathan De Mello, senior director, head
of UK research at CBRE. “There are a lot of
good trading models outside the Southeast but
there is no doubt that fiscal austerity is having a
deep impact on how areas are performing. You
have the cash cows like Sheffield’s Meadowhall,
Manchester’s Trafford Centre, Liverpool One and
Birmingham’s Bullring, then you have the smaller
towns where you are seeing steep like-for-like
sales declines.”
De Mello points out that even the Southeast
cannot be considered one homogenous market.
“I would separate it further between the centre
of London, where sales are going up, plus star
performers such as the commuter market towns
around London.
These are performing
strongly compared
with similar market
towns around the rest
of the UK, many of
The location
challenge
Many think that there is a North-South divide in the UK when
it comes to the retail property market. However, the reality is
more complex. Mark Faithfull reports
which are more reliant on primary industry and
are less affluent.”
The upshot has been well documented decline
in many cities, especially in the north of England,
and an attempted government response through
the Portas Pilots that seek to revive town centres
through a variety of initiatives.
Yet Matthew Hopkinson, director of retail at
LDC, points to fundamentals working against
many areas. “Retailers are looking hard at
unemployment levels, wage levels and house
prices and that stands against many Northern
centres,” he says. “Consumers are increasingly
attracted to major retail destinations, which is
why, when announcements about extensions to,
for example, the tram system in Manchester are
One major problem is when you anticipate a
store opening but then find it has drifted. The
uncertainty of deliverability can be frustrating
Adrian Trotter, Next
John Lewis withdrew
from the Tithebarn
project in Preston
With land and buildings available in strategic locations at a size to suit you, it’s no wonder we attract customers such as Marks & Spencer, Sainsbury’s, Amazon and ASOSWith land and buildings available in strategic locations at a size to suit you, it’s no wonder we attract customers such as Marks & Spencer, Sainsbury’s, Amazon and ASOS
5. retail-week.com | November 2012 | RWP 5
I would not divide it along
North-South lines but across
primary and secondary
Jonathan De Mello, CBRE
welcomed, many local authorities don’t realise
that in reality this means more people from satel-
lite cities travelling into Manchester, not the other
way round.”
Responding to the market
Fashion retailers such as Arcadia and New Look
are carrying out downsizing exercises, which
involves them exiting smaller high streets to focus
on larger stores. Arcadia boss Sir Philip Green
has said that if Topshop launched now it would
probably be an online business supported by
flagship stores.
However, it is not all about downsizing. Others
prefer to look at different formats to respond to
shifts in the retail market. For example, depart-
ment store group Harvey Nichols is already
searching for further locations for its new Beauty
Bazaar format, even before the boutique makes
its debut in Liverpool this month.Harvey Nichols
group concessions and beauty director Daniela
Rinaldi says Beauty Bazaar is likely to open in
more big cities.
It’s not all about the headline schemes.
Although John Lewis managing director Andy
Street says the number of stores required to
service a national market has gone down dramat-
ically – his view being that just 70 stores can now
cover the whole country – he also mooted that a
different model might benefit smaller schemes.
“We will open far fewer full-line John Lewis
department stores than we had envisaged,” he
admits. Instead, the group is also opening two
smaller format stores of 75,350 sq ft stores,which
will be supported by online capabilities. The first,
in Exeter, opened last month, with York to follow.
However, Street stresses: “New developments
looking for a John Lewis often needed significant
scale to accommodate giving away such a huge
chunk of space. By downsizing anchor stores, the
developer potentially faces a less onerous task to
size a proposed scheme appropriately.”
It was John Lewis that effectively pulled the
plug late last year on a large-scale redevelop-
ment plan in Preston aimed at establishing it as
the Northwest’s third city. John Lewis Partner-
ship had agreed to anchor Lend Lease’s Tithebarn
project four years ago as the core element of the
1.6 million sq ft shopping, leisure and housing
project, which would have led to 32 acres of
Preston city centre being reshaped and rebuilt,
but decided to withdraw in late 2011.
Similarly, long-term development plans for
Chester remain in incubation, with the original
large-scale project on ice, while Newport and
Bradford are among those to have gone back
to the drawing board to be “right-sized” for the
current climate.
The moribund development pipeline has
undoubtedly hampered retailers. Adrian Trotter,
regional estates manager at Next, points to
uncertainty of store deliverability as his biggest
problem. He says: “One of the major problems is
when you anticipate a store opening but then you
find it has drifted. You have to be innovative to
satisfy the space requirement. The uncertainty of
deliverability can be very frustrating.”
James Gilhooley, head of property at Waitrose,
observes:“Waitrose looks for 10 stores every year.
It’s frustrating waiting for [suitable properties] to
come through.”
There are also some retailers opening stores
nationally, including Aldi – with plans for 40
Town and out
When looking at a potential scheme in a
northern town, the first thing Barnsley-based
developer Dransfield considers is whether it
boasts an out-of-town supermarket. If there
is, “you will not get a grocer into your in-town
project”, points out managing director Mark
Dransfield. “That is becoming increasingly
difficult as local authorities allow more out-of-
town planning consents because of the focus on
job creation, but it is ignoring the impact those
decisions make on the towns themselves.”
Dransfield recently introduced independent
department store Browns to its Gainsborough
project, replacing Carpetright. Such asset
management is at the heart of improving
shopping provision. Dransfield says he also
looks for public spending and infrastructure
improvements, such as a new bypass, plus an
affluent catchment to support investment in
new locations. “You need a strong local authority,
willing to back compulsory purchases and with
a good sense of direction and a desire to make
long-term improvements to their towns,” he says.
Leeds is the latest
city going through
the redevelopment
process
6. 6 RWP | November 2012 | retail-week.com
more – Kiddicare, which recently opened the first
of its 10 former Best Buy sites in Nottingham,and
Boux Avenue. Owner Theo Paphitis says Boux
Avenue has already been“extremely well received”
in Glasgow city centre, and is now expanding in
Scotland, poised to open its first out-of-town
store there in the Silverburn shopping centre.
However, the scale of such growth will make little
more than a dent in overall availability.
Dividing opinion
If the UK’s smaller cities and towns are to
revive their retail aspirations, there seems little
doubt that their cloth will have to be cut
accordingly, and plans for Shrewsbury,
Dorchester, Stoke and a likely scheme for Oxford
suggest all is not lost beyond London. The
previously stalled Leeds schemes by Land Securi-
ties and Hammerson are also going ahead, but
Leeds again breaks out of simple geographical
definitions, as it is a primary location and is
arguably under-retailed. Once the schemes
You can no longer rely on
the halo effect of bringing
in a big retailer
Ian Cody, Hermes
for Trinity Leeds and Eastgate Quarters are
completed, all of the big UK conurbations will
have a modern shopping heart.
“The regional divide is really an employ-
ment divide,” reflects Ian Cody, director of asset
management at Hermes. “In a moribund market
Independent
department store
Browns has opened
in Gainsborough
London retains the x-factor
Central London has enjoyed an extraordinary
retail boom, in contrast with the rest of the
country. Increasing demand from overseas
retailers and a string of new flagships along its
principal arteries have created a push for new
premium areas beyond the core of the West
End. Emerging areas include:
Surrounding Oxford Street Park Place will
create a new retail zone. But the main focus is
on the run to the east of Oxford Circus, anchored
by Primark at its eastern extremity.
Southern end of Regent Street More
youthful brands and a Burberry flagship are
benefiting streets such as Glassblower Street
and Brewer Street.
Surrounding streets in Mayfair Victoria’s
Secret has helped connect Bond Street and
Piccadilly. Adjacent Albermarle and Dover streets
are in demand, while South Molton Street has
been boosted by the arrival of Chinese retailer
Bosideng’s flagship on a former pub site.
Covent Garden’s surrounding streets and
Seven Dials The piazza is moving upscale as part
of a planned strategy by Capco, and areas around
Covent Garden and Seven Dials are encouraging
independents and village-style retail. Indies tend to
have smaller stores in the surrounding streets, and
Seven Dials targets an older demographic.
Shoreditch and Spitalfields An east London
alternative for retailers squeezed out by West End
demand. Its £100 zone A availability plus a strong
leisure and cafe offer and high residential density
supports seven-day trading.
St Christopher’s Place The mixed retail and
leisure square, owned by F&C REIT, includes 40
units and has had increased interest from overseas
businesses including French retailer The Kooples
and Singaporean stationery retailer Prints.
the one major positive change has been the fall in
mortgage rates, which means if you are employed
then your disposable income has been preserved.
That has protected the high employment areas,
particularly the Southeast.”
As a consequence Cody believes retailers have
become far more selective about where they will
open and that landlords must provide “research-
driven”cases to retailers if they are going to entice
them into a scheme.
“You can no longer rely on the halo effect
of bringing in a big retailer,” he stresses. “Each
scheme must stand on its own merits, which is
why you are still seeing development in a city like
Leeds. And retailers now are even more deter-
mined to get into the right projects, in the right
locations, and they will pay to ensure they get
what they need.” ■
Kiddicare’s
new store in
Nottingham
S M L XL
prologis.co.uk
7. BRITISH LAND
We appointed CBRE to manage
one of the largest shopping centres
in Europe, that demonstrates our
confidence in them.
From development to leasing
and ongoing management, we
are honoured to advise on
Puerto Venecia, the largest
retail and leisure destination in
Europe.
Congratulations to British Land
and Orion Capital Managers
on a truly successful launch.
Find out more about our
shopping centre expertise:
www.cbre.eu/shoppingcentres
8. 8 RWP | November 2012 | retail-week.com
I
t’s not so much an invasion as an
international romance. With nearly 15%
of the UK’s stores empty, high streets
and shopping malls could benefit from
finding some new friends with money to
spend. Many British retailers are closing stores
as they downsize their portfolio in line with
shoppers’ move online and the impact of
the recession on consumer spending and
behaviour. But international retailers such
as Forever 21, Bosideng, Victoria’s Secret and
J Crew are keen to present their brands to
British shoppers.
Retailers from the US have noted the success
of Apple, Banana Republic and Urban Outfit-
ters and are keen to join their compatriots
while the recent arrival of China’s Bosideng
could mark an influx of east Asian brands.
Despite the economic downturn, the UK
is still a big draw for international brands.
London is the most attractive international
destination, according to a recent survey of
European retailers by Jones Lang LaSalle, while
Birmingham and Manchester also feature in
the top 50.
“London attracts international brands for
a number of reasons including size, maturity
and transparency of the retail market, in
addition to the track record of retailers who
have successfully opened here,” says Jones
Lang LaSalle head of EMEA retail research and
consulting James Brown.
On the other hand, international players
are unlikely to come knocking at lacklustre
shopping centres or ailing high streets.
Retailers may be seeking a range of store sizes
and formats depending on their particular
needs, but agents say they are looking for
prime locations and mostly in central London.
“In the past couple of years, retailers have
very much focused on looking for prime sites.
They do not want to take the risk of secondary
locations in the current environment,” says
James Ebel, director of property agent Harper
Dennis Hobbs.
International retailers seeking property in the UK must vie for the perfect spaces to showcase
their brands. So what attracts overseas newcomers looking to British shores, and which areas
can tempt them beyond the high-end draw of the West End? Sarah Butler investigates
Retailers do not want to take
the risk of secondary locations
in the current environment
James Ebel, Harper Dennis Hobbs
retailers, Bond Street continues to attract
luxury brands, while areas such as Mount
Street and Albemarle Street are increasingly
attracting high-profile international retailers
including Marc Jacobs and Lanvin.
Centre involvement
Shopping centre developers have become
increasingly innovative in attracting overseas
tenants. Hammerson, for example, teamed
up with one of its shareholders, Cadillac
Fairview, to swap best practice and recom-
mend retailers that could travel between
North America and the UK.
The two companies later joined forces with
Macerich, which owns and operates shopping
centres on both the west and east coasts of the
US. The companies informally refer retailers to
each other and share knowledge about poten-
tial partners and their requirements, reducing
the need to rely on property agents.
“These companies have built up trust already
and that’s important in building new relation-
ships with retailers,” says Sheila King, leasing
director for new business for Hammerson. She
says international retailers coming to the UK
look for a lot more information on sales data,
potential competitors and footfall than their
UK counterparts. Having direct contact with
retailers rather than going through an agent
helps smooth the process.
Westfield London has also done a good
job of persuading luxury retailers to consider
shopping mall property. Westfield director of
operations Bill Giouroukos says that the strong
aesthetics of its“iconic”malls as well as services
such as valet parking, free wi-fi and regular
events have helped to attract new brands.
Victoria’s Secret opened its first UK store
at Westfield Stratford, and Westfield benefits
from existing relationships with retailers in
their home countries because of its global
group of shopping centres.
“We get close to retailers and partner up to
share business plans and understand what they
Overseas admirers
Duncan Gilliard, associate at agency
Cushman & Wakefield, agrees that “interna-
tional retailers increasingly seek larger stores
in order to make a bigger impact and fully
showcase the brand when expanding in a new
retail territory”.
On the whole, retailers want to kick-start
their presence in the UK with one large store
that can establish the profile of the brand rather
than several secondary stores. Ebel suggests
that they are likely to look to Paris, Berlin and
Munich for follow-up stores rather than to
Birmingham, Manchester and Glasgow.
Oxford Street, Westfield London and
Regent Street are all big draws for mainstream
Victoria’s Secret’s New Bond Street store
At the Centre of RetailAt the Centre of Retail
9. At the Centre of Retail
retail-week.com | November 2012 | RWP 9
want,”says Giouroukos.“Many years ago when
retailers were hot to expand, just doing a good
deal was maybe enough. Today they are far
more discerning.”
Good neighbours
Giouroukos says the developer works with
retailers on store design, the potential for
mezzanine floors and on installing the latest
technology and services.
Westfield also focuses on one of the most
important factors for many retailers entering
the UK – getting the right mix of neighbours.
Signing Louis Vuitton was a vital part of its
campaign to bring luxury retailing to Westfield
London by helping to set the right tone. It
proved that it could attract a new type of
customer just a stone’s throw from London’s
historic luxury heartlands of Bond Street and
Sloane Street.
“Bringing in similarly minded co-tenants,
quality real estate and public realm as well as
iconic buildings can all attract international
tenants,”says Kevin Farrow, a senior director at
property consultancy CBRE.
Regent Street worked on all those measures
to turn itself into a sought-after destination for
internationalbrandsafteryearsinthedoldrums.
It is home to Spanish retailers Zara and Mango,
US brand Anthropologie and Japan’s Uniqlo, as
well as more international brands such as Hoss
Intropia and Coach.
Bosideng’s UK store on South Molton
Street (also left) and Forever 21’s
Birmingham Bullring shop (bottom)
Landlord The Crown Estate has introduced
attractive dining and entertainment areas just
off the main drag and improved the paving
and condition of the buildings to attract
tenants. The new restaurants have brought in
more shoppers and improved dwell time.
The Crown Estate also made some bold
moves in bringing in experimental interna-
tional brands to give the street a higher profile.
Apple’s huge London flagship near Oxford
Circus was one of the first arrivals.
“Bringing in Apple was a brave call, before
it had any significant retail experience. Who
would’ve thought that sort of store could drive
such amazing footfall and become a bench-
mark for other retailers,” says Farrow.
A new retailer needs to get assurance of
full support if something goes wrong
Wayne Zhu, Bosideng
At the Centre of Retail
10. 10 RWP | November 2012 | retail-week.com
In addition, Gilliard points out that many of
Cushman & Wakefield’s international clients
launching in the UK will look to areas already
boasting retailers of the same nationality. “A
large amount of French brands have opened
first stores in either South Molton Street or
Westbourne Grove where there are many
existing French retailers,” he says, citing French
lingerie brand Aubade, which opened in both
places to be close to French retailers such as The
Kooples and Zadig & Voltaire.
Service and support
It’s not just a case of ‘if you build it they will
come’, however. Landlords need to back their
promises and investment in infrastructure with
research demonstrating the kind of shoppers
they can attract and how they are likely to spend.
Wayne Zhu, chief executive of Bosideng, which
recently opened on London’s South Molton
Street, says: “Service and support provided
is very important for a new overseas brand
like Bosideng. Data on local demographics,
street footfall, trading patterns and peer store
It’s not about whether the store
is in London or not but whether
the customer profile is right
Ben Tolhurst, Hermes Real Estate
performance provide key points in making a
decision. Also a new retailer needs to get assur-
ance of full support if something goes wrong.”
Bosideng assesses the potential of a market
using a sophisticated model that incor-
porates demographics, local purchasing
power, customer buying patterns, competitor
brands and occupancy costs. And it’s certainly
not alone.
But the clamour for premium sites by brands
such as Bosideng has driven up rents in some
prime locations while other less salubrious sites
struggle to attract tenants. The demand in the
most sought-after spots is high so it can take
some time for retailers to get their dream site.
Away from the capital
Regional centres can offer an attractive alterna-
tive to the congested London scene. Forever 21
launched in the UK in Birmingham’s Bullring
while it waited for a large enough site to
become available on Oxford Street. Meanwhile,
upmarket coffee brand Nespresso opened in
Manchester before finding a London flagship
on Regent Street. And many brands are keen to
find the right demographic outside the capital.
Abercrombie & Fitch’s sister brand Hollister is
expandingacrosstheUKinareaswitharelatively
affluent catchment and young demographic.
Hermes Real Estate Investment Manage-
ment asset manager Ben Tolhurst says: “It’s
not about whether the store is in London or
not, but whether the customer profile is right.”
Regional centres have to make international
retailers and their agents aware of the poten-
tial spending power of their shoppers and the
advantages of larger space and potentially lower
rents. Tolhurst says that, provided the customer
profile is correct, these advantages can mean
greater returns for brands.
Hermes Real Estate invested £40m in reposi-
tioning The Friary Centre in Guildford, Surrey
to enlarge stores and attract brands such as
Armani Exchange and Hollister.
Forever 21 is looking at sites across the
country, Bosideng is considering Manchester
and Edinburgh and Apple is moving into
regional centres such as The Glades in Bromley.
Regional centres may not be able to invest in
enlarging stores but all are capable of adding
value through offering modern services such
as wi-fi, and drawing customers in through
better dining and entertainment spaces, a
more considered mix of tenants and exciting
marketing using social networking or events.
With international retailers still on the hunt
for space in the UK there’s plenty of opportu-
nity to tempt them. n
About £40m was invested
in The Friary shopping
centre in Guildford, Surrey
Brands snapping up UK space
n Bosideng The Chinese clothing retailer is looking for 2,000 sq ft to 3,000 sq ft stores in shopping
centres or high streets, first in London but also in Manchester or Edinburgh.
n Forever 21 The US young fashion retailer said in 2010 that it wanted 100 UK stores covering
every major city. Even though it has since revised that plan, the retailer continues to grow,
opening stores at Manchester’s Trafford Centre and Bluewater in Kent.
n Hollister Abercrombie & Fitch’s sister brand already has four stores in the UK, all near London,
except West Quay in Southampton. It is to open at least four more this year including an 8,500
sq ft store in Milton Keynes, and shops in Bristol’s Cabot Circus and Liverpool One. Fellow sister
brand Gilly Hicks has also opened on London’s Regent Street and now has more than six stores in
the UK.
n J Crew The US retailer is likely to open on Regent Street in the former Burberry store. Boss
Mickey Drexler has said the retailer will open “a few” UK stores in the next couple of years.
n Victoria’s Secret The US lingerie chain launched in the UK in Westfield Stratford and has a
16,500 sq ft store on London’s Bond Street.
n Uniqlo The Japanese retailer already has 12 stores in London but is also seeking a 40,000 sq ft
flagship in the capital.
n Monki Swedish fashion giant H&M’s quirky girls’ brand is looking for a London flagship.
At the Centre of Retail
11. 300 new Drive-thru
restaurants required...
That’s food for thought!
For more information and requirements list visit www.mcdonalds.co.uk/development
Stand alone restaurants with Drive-thru lane
• Retail & leisure parks
• Main arterial routes
• Pub conversions
3,621 sq ft
restaurant plus
car parking or 1/2
acre sites
£20,000
IntroductoryFee
Tim Edwards
tim@morganwilliams.co.uk
020 7493 4455 • 07894 531 924
ALL REGIONS
ALL REGIONS
Adrian Longstaff
adrian@longstaffassociates.co.uk
0113 2091605 • 07808 479273
Longstaff
& Associates
RETAIL AND LEISURE CONSULTANTS
Head of Acquisitions Mike Williams mike.williams@uk.mcd.com 020 8700 7191 • 07973 203 906
South East Alex Lomas alex.lomas@uk.mcd.com 020 8700 7084 • 07802 908 384
Inside M25 Richard Marsh richard.marsh@uk.mcd.com 020 8463 4330 • 07739 304 245
North West, Scotland & N. Ireland Emma Fisher emma.fisher@uk.mcd.com 0161 253 4287 • 07841 497 494
West Midlands & South West Andy Ross andy.ross@uk.mcd.com 0121 253 3535 • 07802 885 281
North East, East Midlands & E. Anglia Paula Reed- Smith paula.reed-smith@uk.mcd.com 0121 253 3445 • 07836 384 380
12. 12 RWP | November 2012 | retail-week.com
What are the key property
challenges facing your business and
retailers in general at the moment?
Collins: The retail industry constantly evolves.
This is apparent with new technology and the
use of internet and mobile affecting the way
people shop. We’re lucky that we have a strong,
well-established brand and we’ve benefited from
being an early entrant into online retail – the
challenge is to stay ahead of the game.
Harris: The greatest challenge facing retail
is finding good value properties that satisfy
business needs but have a sensible containment
of risk. To stimulate new retail businesses, it’s
important to have a more fertile ground for
them to flourish. Before the property problems
of three to four years ago, retailers were being
asked to sign up to completely unrealistic
things [such as long-term leases]. Risks
have improved but haven’t gone away.
Mason: The key challenge with property is cost.
For example, last year we saw rate increases of
5.6%. At a time when rents are growing and
when sales are difficult, it’s an extra burden. The
other challenge is getting out of some excess in
the property portfolio by either moving to
smaller units in the same catchment area or
downsizing the existing units to reduce the
overall property cost – or staying in the
same place and looking at new deals to
reduce the rent.
How worrying is the lack of high-
profile new developments at the
moment? How has this affected
property priorities?
Collins: Retail needs regular investment in
order to remain competitive and offer a
compelling reason for shoppers to visit. Retail
is also important from a social perspective, in
terms of employment and giving back to the
local community.
Facing the futureAs retailers face property challenges including steep increases in business rates, Gina Lovett spoke to three
retail property directors for our virtual round table to discover the priorities, now and in the future
The greatest challenge facing retail is finding
good value properties that satisfy business
needs but have a sensible containment of risk
Peter Harris, Hotel Chocolat
Harris: It doesn’t worry me in the slightest.
Sometimes developments are just too big.
There are places where retailers are forced into
oversized shops. That wouldn’t be a problem if
the landlord was paying the rates.
Mason: I don’t think it matters at the moment.
We’re seeing a real polarisation in the market,
between really good high-quality prime sites and
the first generation, bulky secondary stuff. There’s
still a reasonable amount of stock that landlords
are able to split to make schemes better.
What are some of the key regions
or demographic areas you are
focusing on?
Collins: John Lewis Exeter, our first flexible-
format shop, opened in October. The flexible
format allows the business to consider opening
in locations that had not previously been
considered as viable for a large traditional John
Lewis branch. Our target market has not
changed. This new approach to the size of our
shops allows us to forge ahead with our growth
plans to introduce John Lewis branches and our
full-line assortment to cities and towns where we
have long wanted to have a presence.
Harris: We’ve just opened a shop in Aberdeen,
our second shop in Scotland, but our approach
is that we’re not looking to go to many new
locations. We’re exploring and developing new
formats, one of which is Roast + Conch. We’re
looking at other possibilities within the types of
property we have.
Mason: We already have quite a large footprint,
so we’re not looking at new areas. The place
where we’ve really struggled [to get sufficient
suitable space] is in central London. That’s an
issue because we can’t do our full offer in terms
of our We Fit service or getting in free car
parking. Our 460-store footprint with a
20-minute drive time is absolutely central to
our plan going forward.
How should forward-thinking
retailers tackle the rise of
multichannel retailing?
Collins: We have moved from having multiple
single shopping channels (shops, online, mobile,
catalogues and telephone) to a world that
Jeremy Collins, property
director, John Lewis
Peter Harris, co-founder,
Hotel Chocolat
Andrew Mason, head
of property, Halfords
13. retail-week.com | November 2012 | RWP 13
recognises that customers shop using multiple
channels. We seek to offer our customers the
flexibility to shop the way they want to, when
they want to with a seamless and consistent
level of customer service throughout.
Harris: We started off in mail order and
internet, developing our business this way for
about 10 years before opening a shop, so for us
it’s not a big issue. We developed our database
before opening new stores and were able to
review where we thought they’d be successful.
We just look at the challenge in terms of
John Lewis Exeter
is the retailer’s first
flexible-format shop
Hotel Chocolat
delivers to more
than 30 countries
our customers – not as multichannel or a
physical shop.
Mason: We’ve found that more than 85% of our
internet orders were being reserved from store
stock to pick up from store. That led us to launch
order and collect, where people can order from
all of the online range, in store or not, and we’ll
guarantee to get it to the store for collection, as
long as they order before 6pm, by lunchtime the
next day. The beauty is that we can effectively
offer the full range from even our smaller 3,000
sq ft stores.
Are you looking at international
expansion?
Mason: Not at the moment. We’re in the
Republic of Ireland but beyond that it’s not on
the radar. We have enough space there.
Collins: Not at present but we do have an
international delivery service to more than
30 countries worldwide.
Harris: We opened in Amsterdam earlier this
year and are about to open in Copenhagen.
That’s a much more‘experience store’. It’s early
days for us in the US but we’re planning some
expansion in the near future.
14. 14 RWP | November 2012 | retail-week.com
Ciaran Bird,
head of UK
retail, CBRE
Some of the key
challenges facing
retailers at the
moment include
property inflation, the tax burden
and the lack of new development
and quality space, especially given
difficulties in the funding of high
street and shopping centre
developments in locations other
than the top markets.
Many retailers are seeking
larger, better-configured space in
the leading destinations in order to
showcase their full product range
and to support consumer desire
for click-and-collect and in-store
web browsing, so the lack of new
development is concerning.
Retailers with the reserves to
undertake such programmes
without resorting to debt financing
have a major advantage. They will
have to be ever more creative in
exploring relocation and store
expansion and, in some instances,
how they can significantly reduce
stock room space.
Retailers should embrace
multichannel retailing and take
advantage of online and mobile
technology, while using their stores
to display and showcase product.
Consumers are driving demand
for innovation and accessibility,
so real estate portfolios will have
to be focused on improved
click-and-collect facilities.
Landlords and developers are
increasingly seeking to provide
quality space in shopping centres
to retailers, incorporating exacting
standards. On the high street this
has proved more difficult other
than where it is controlled by one
owner. The challenge will be for
local authorities and owners –
where there is fragmented
ownership – to come together
and deliver quality space.
For retailers with a robust UK
business and that are well-funded,
international expansion is the next
stage in markets where demand and
competition and real estate supply
allows quality profitable growth.
Guy Grainger,
lead director
UK retail,
Jones Lang
LaSalle
The key
challenges facing
retailers in this type of market are
how best to engage with their core
customer through their stores and
the retailing experience, as well as
providing the most efficient model
for performance. The most requests
we are receiving relate to clients
who are optimising their property
portfolio for maximum efficiency
and coverage throughout the UK.
In the current climate, it is
difficult to justify large-scale new
retail development in many of the
mature markets. This has led
retailers to explore new formats
and work with landlords to
reconfigure existing buildings to
provide better space. Department
stores, in particular, have been
reliant on a new development
pipeline, so their strategy has been
adapted either by considering new
formats or moving out of town, or
placing more emphasis on
international expansion.
I see the store of the future
providing the customer with a
better all-round experience. Aided
by technology, there will be more
and better-trained staff providing a
better service. There is likely to be
less stock per sq ft as much of this
will be ordered online and delivered
to the customer’s place of choice.
This is likely to affect how we
value property and the method of
applying rent to direct sales from
the store or indirect sales online. It
is fundamental for us to understand
the macro market opportunity from
a retail perspective. We will
identify the optimum city retail
roadmap to understand the local
market retail dynamics and
competitive landscape.
The agents’ view
We seek to offer customers
the flexibility to shop the way
they want, when they want
Jeremy Collins, John Lewis
Customer service
is increasingly
important in
Halfords’ stores
How do you think the ‘store of
the future’ will play out on the
UK’s high streets and in other
shopping destinations?
Collins: The most successful retailers have an
excellent physical presence where they grow
an emotional relationship with customers,
complemented by an effective, efficient and
engaging online presence that can meet their
needs on convenience. Shops will increasingly
become a‘leisure’ option and therefore it will
be important to be engaging and innovative.
Providing excellent facilities and good service
will become increasingly important.
Harris: There’s shopping for convenience and
there’s shopping in a leisurely, engaged way.
Our Covent Garden store is a bit of a window
to the future. With Roast + Conch, you
experience the culinary, the history and the
background [of the brand]. Creating those
experiences gives us unique appeal.
Mason: For Halfords, physical stores will revolve
around customer service and fitting. Fitting has
become a service revenue stream and an
important way in which we use the store. In our
‘Lab’ stores we are experimenting with product
presentation areas, wi-fi, tablet display, QR codes
and product searches – all the things that allow
customers to shop in a much more connected
way. But what we’re not going to let this do is
increase the footprint of the store. All this is in
existing space. n
16. Innesco is a leading marketing and communications agency working within the property and retail
sectors. We represent a variety of shopping centres, developments, destinations and brands in the
UK and abroad. We create strategic marketing communication programmes that bring brand visions
to life and deliver exceptional ROI, ensuring that our clients consistently stand out from the crowd.
To meet one of our team at MAPIC please call 0207 409 3434 or email contact@innesco.co.uk
Building reputations at MAPIC
Marketing | PR | Media Relations | Public Affairs | Digital | Advertising | Brand Development | Events and Promotions
www.innesco.co.uk
Image:WestfieldStratfordCity,London
17. retail-week.com | November 2012 | RWP 17
Leisure has become a staple of shopping destinations as developers and retailers realise its effect on footfall.
Matthew Valentine explores the evolving leisure-retail mix in shopping centres and on the high street
Leisurely shopping
F
rom the ‘male crèche’ of the nearest
public house to a place to entertain
bored children or feed tired parents,
retailers have long known that
convenient leisure facilities can extend and
enliven shopping visits. But the standard of
leisure offers required to make a retail
destination stand out is evolving fast, and
arguably there is more rapid development than
the shops they complement.
Lend Lease’s Bluewater development in Kent
is now more than a decade old,and has included
a leisure offer alongside its shops from the
beginning. The centre houses an Odeon cinema
and a growing selection of restaurants and bars
alongside some less conventional leisure facili-
ties. “We have a 36-hole golf course here. We’ve
got the lakes, the fishing, the boats,” says
Bluewater general manager Robert Goodman.
There is certainly no shortage of variety.
Goodman describes the centre as having retail
anchors, catering anchors and leisure anchors –
and says it is the catering and leisure offers that
have seen the biggest changes since Bluewater
opened. This has included a rapid expansion
and growing sales from the various restaurants
at the centre, with many more premium outlets
now trading. And with the opening last year of
Glow, a 55,974 sq ft events space, Bluewater has
taken its leisure offer to a new level.
Events including wedding fairs and The Baby
& Toddler Show have already been hosted
at Glow, making it a destination for varied
customer groups, some of them new to the
mall. “Among the interesting findings from
some of the events we’ve been running, for
example, was that with BBC Good Food we
attracted guests who had not been to Bluewater
before,” says Goodman.
Unique appeal
The Wedding Fair in September attracted more
than150exhibitorsandhighnumbersof visitors,
many of whom visited Bluewater’s shops and
restaurants. Calum Taylor, managing director
of organiser Mercury Events, explains the offers
a unique appeal. “Unlike almost any other
venue in the country, it has a fantastic comple-
mentary offer in the restaurants and shops that
Bluewater provides,” he says.
Live sports are the next leisure development
on the agenda at Bluewater. Olympic boxing
champion James DeGale MBE last month
defeated his French rival in one of a series of
boxing events scheduled at Glow. Like the
cinema, these events will help to maintain high
footfall levels into the evening.
Retail venues in town and city centres might
not have the luxury of space that centres such
as Bluewater can offer, but they do benefit
With BBC Good Food we
attracted guests who had
not been to Bluewater before
Robert Goodman, Bluewater
Bluewater hosted
the BBC Good
Food Show
18. 18 RWP | November 2012 | retail-week.com
acknowledges that to attract those who have
bypassed more convenient shopping locations
to get there it must also consider the wider
picture.“We invest a lot more time now than we
envisaged five years ago in thinking, ‘what can
we provide that makes this an engaging place to
be?’” says Dunnett. Part of that approach is
working more closely with the city to develop
the overall retail-leisure mix.
Close links
Association of Town Centre Managers chief
executive Martin Blackwell is another supporter
of close links between stakeholders in any area.
Landlords, retailers, leisure operators and local
authorities should all be involved in strategic
decisions on how to develop venues,
he says. If that is the case, then he believes that
leisure facilities can help retailers to thrive.
“At Westfield’s new Stratford centre, a quarter
of all the units are not retail. It is about leisure,
food and drink largely, but that’s the highest
proportion I have seen and I think it is a really
good illustration of the way things are moving,”
says Blackwell.
Retailers are responding positively to the
growing leisure offer at many retail destina-
tions. Indeed, for some, leisure is already a core
component of their own offers and supporting
facilities have a big impact on the sites they
choose.Build-A-Bear Workshop was created
the retail matched the leisure, and yes, we intro-
duced our own leisure too, then that would
make it [Liverpool One] attractive.”
Research shows that the combined retail and
leisure offer really has paid off in terms of
consumer appeal. The centre brings shoppers
from a catchment area that extends to a travel
time of about 80 minutes, a distance that
provides a possible catchment of 4.1 million
people. While 55% of shoppers polled by Liver-
pool One said it was their destination of choice
because of the selection of retailers, 45% said
there were additional reasons for their decision
to go there.“That’s nearly 50% of our customer
base saying they have made an explicit choice in
their mind, that Liverpool is the place they want
to be when they are shopping, but it is not
exclusively because of the shops,” says Dunnett.
The centre claims its catchment has grown by
27% since 2010, and achieved a 10% increase in
sales during 2011. Sales have risen by 2.3% so
far in 2012, and stores at Liverpool One have
traded 26% ahead of the UK average.
The centre is dedicated to constantly
refreshing the stores on offer to make sure
it provides shoppers with the best range. But it
from adjacent leisure facilities, which can signifi-
cantly enhance their appeal as destinations if
managed efficiently.
Connected offer
Miles Dunnett, head of asset management for
the Grosvenor Liverpool One Fund, says that
from the perspective of a landlord it is impor-
tant to ensure attractive leisure opportunities
are included in any planning and development.
Recalling his own experience, he says: “But
before we got to that, we put an awful lot of
importance on the city centre perspective too,
in making sure that the way the scheme was
delivered connected to the other parts of the
offer around the city.”
Liverpool One already hosts 35 restaurants
and has submitted planning applications to
create more by turning some A1 units over
to A3 use, says Dunnett: “We also have on our
doorstep the Albert Docks with, at one extreme,
the Beatles Tour, the Beatles Story and the Duck
Tour and, at the other, Tate Liverpool. So, as far
as a leisure offer goes they were easy wins for us.
As long as we recognised the fact that people
wanted to come into the city if the total offer of
Celebrity Peter
Andre launched
Christmas at
Bluewater last year
At Westfield’s new Stratford centre,
a quarter of all the units are not retail
Martin Blackwell, Association of Town Centre Managers
Liverpool One hosted
a Land Rover off-road
experience
Children in Need
attracts crowds
19.
20.
21. Outgrowing your
warehousing?
To become a Tenens’ tenant call Simon Emms,
Estates Manager, on 08702 415640
visit us at www.tenens.com
or email us at property@tenens.com
Howard Tenens Associates Ltd, Kingfisher Business Park,
London Road, Thrupp, Stroud, Gloucestershire GL5 2BY.
Maybe it’s time to become a Tenens’ tenant.
Because we own 3,000,000 ft2
(278,700m2
) of high quality storage space across the UK, you’ll find
Howard Tenens can always offer you a tailored solution in your ideal location.
l Warehouses available from 5,000 ft2
(465m2
) up to over 200,000 ft2
(18,580m2
).
l Locations include Andover, Ashby de la Zouch, Boston, Felixstowe, Sharpness, South Ockendon
and Swindon.
l Excellent transport links to all UK delivery points and beyond.
l Modern warehouse facilities in a contemporary business environment.
The space is flexible and scalable, perfect for expanding businesses or those with seasonal peaks and
troughs and, since we have complete control over our own costs, our rates are highly competitive.
22. 20 RWP | November 2012 | retail-week.com
E n t e r t a i n i n g
customers will remain
a key objective for
Build-A-Bear, which
is in the process of
launching a six-store
US trial of its ‘store of
the future’ format.
“The first store was
opened three weeks
ago. That is in West
County Centre in St Louis, Missouri, and
another one opened in California last week,”
says Parry. “And there are six stores that will all
be open in the next couple of weeks. Those six
stores form the basis of the trial.”
The new design features more interactive
elements and a lot of new technology to
entertain customers, he says, and will be
The night time economy (NTE) and its leisure
provisions play an increasingly important role
in attracting visitors. Including restaurants,
cinemas, theatres, museums, pubs, bars, cafes,
performances, events and retail, the NTE can
drive large increases in footfall.
In a new report commissioned by the
Association of Town Centre Management
(ATCM) and Visit England, economists TBR and
MAKE Associates estimate that the value of
the NTE in 2009 was £66bn, or 27% of
economic turnover in UK towns and cities and
between 5% and 10% of employment. While
local residents can fear a growing NTE, which
they sometimes associate with antisocial
behaviour, the report suggests that “without
exception, improvement of the NTE comes
through sound management”.
The report was published during Purple Flag
Week, held in September, an event showcasing
the quality and diversity of night time activities
in 20 UK towns and cities. The Purple Flag
accreditation scheme, run by the ATCM, will
recognise locations that manage their NTEs well.
The night time is the right time
A customer will spend about
50 minutes to an hour making
their bear, so we have to be
in a good leisure environment
Roger Parry, Build-A-Bear
Build-A-Bear
aims to provide an
interactive retail
experience
rolled out during 2013 if it proves successful.
Entertainment retailer HMV is another
retailer that likes to be close to leisure facilities.
“Our store at Westfield Stratford City, for
example, isn’t really with a lot of other retailers,
it’s located near the food court,” says an HMV
spokesman.“There’s a massive overlap between
entertainment, retail and leisure.”
Shoppers are demanding more leisure facili-
ties as their needs change, he says:“We know we
have to take it up a notch. We can’t afford for
shopping to be a passive experience. We will
increasingly look to roll out more leisure facilities
within our shops.”
Included in the plan will be a greater emphasis
on personal appearances by music and film
celebrities, and more in-store cafes. The latter
will feature recharging points for mobile devices
and free customer access to the My HMV wi-fi
network – which may give a hint of the next
opportunity for all retailers to spread the word
of their leisure offer: the rapid growth in social
media networks and the uptake of mobile devices
is allowing customers who feel they have been
entertained to share the experience with their
friends from the comfort of the nearest cafe. n
with the objective of entertaining customers
while they created their own personalised teddy
bears. “The difference between Build-A-Bear
and most retailers is that you can’t really shop it
without there being good engagement between
associate and guest. We see it as an interactive
retail experience,” says the company’s UK
managing director, Roger Parry. He adds
that the retailer actively seeks out sites that
offer enhanced leisure opportunities from
other companies.
“We do look for those kinds of locations, and
if you look at our portfolio of 60 stores you will
see that we are in a lot of locations that meet that
description. Certainly for us, because on average
a customer will spend about 50 minutes to an
hour making their bear, we have to be in a good
leisure environment. People have to be able to
give a decent amount of dwell time. Our core
guests,if I had to sum them up,would be families
coming out for half a day,or a day,where they can
shop, eat and maybe take in a movie,” says Parry.
Reasons to be cheerful
Build-A-Bear works closely with shopping
centre management teams to identify more
reasons for families to make leisure-based visits.
Personal appearances by relevant celebrities,
with CBeebies presenter Justin Fletcher a
favourite, and Pudsey Parties, to support
Children in Need, are examples of the kind of
activities that work well for the retailer.
23. Contact us today:
Rob Asbury
0207 312 7458
rob.asbury@montagu-evans.co.uk
Martin Gudaitis
0141 227 4672
martin.gudaitis@montagu-evans.co.uk
Level of Service
Whatever advice you require, we will provide a level of
service which consistently exceeds expectations.
One Stop Shop
We bring together multi-disciplinary teams made up
of agency, planning, valuation, management, rating,
research and investment providing a one stop shop for
all your retail and leisure needs.
HOLISTIC,
‘CLIENT’
FOCUSED
APPROACH
Toretail&
leisurein
all
locationsadvising
landlords,
developers
andoccupiers
RETAIL&
LEISURE
LANDLORD
&
TENANT
RETAIL&
LEISURE
INVESTM
ENT
RETAIL&
LEISURE
AGENCY
(Actingfor
landlord&
tenant):-high
st,outoftown,
shopping
centre&
superm
arkets
RETAIL&
LEISURE
DEVELOPM
ENT
CONSULTANCY
&
ASSET
M
ANAGEM
ENT
RETAIL&
LEISURE
PLANNING
CONSULTANCY
INCLUDING
COM
PULSORY
PURCHASE
&
LISTED
BUILDINGS
EXPERTISE
RETAIL&
LEISURE
PROFESSIONAL
SERVICES
INCLUDING
RATING
&
VALUATION
CALL
COM
PETITORS
COLLECT
RETAIL EXPERTISE
Big retail players choose...
CALL
COM
PETITORS
24. trustedby some of the world’s leading retailers for over 25 years.
Gazeley. a Global developer of loGistics warehouses
gazeley.com
UK | Europe | China | Middle East
25. retail-week.com | November 2012 | RWP 23
The search for spaceHigh street vacancy rates tend to grab the headlines, but retailers face another property challenge –
finding the right distribution and warehousing property. Ben Cooper takes the measure of the market
R
etailers taking on new warehousing
space used to be spoilt for quality
options, and retail warehousing tended
to be a safe bet for developers creating
a constant supply of sheds across the country.
However, recent figures from Cushman &
Wakefieldshowthatof the29GradeAwarehouses
on the market in England only two are between
500,000 sq ft and 600,000 sq ft,and there are none
more than 600,000 sq ft.
Multichannel has created new reasons to
ensure smooth logistics operations, which can
mean moving into new,modern warehouses.And
as supermarkets – big users of logistics and retail
warehousing – continue to put thousands of new
products on the shelves each year, demand for
distribution centres is anything but decreasing.
“Retailers have a quandary,” says Cushman &
Wakefield head of national logistics and industrial
property Mark Webster. “Some people can’t look
20 months ahead, let alone 20 years. But if people
aren’t able to move then it’s a big issue. A crisis
looms in terms of the supply of new buildings.”
So with little new supply in the warehouse
pipeline but new space still required, what can
retailers do to get the sheds they need? Before the
economic downturn the appetite for warehousing
space was between 13 million sq ft and 14 million
sq ft in an average year, and about 10 million sq ft
was being built.But the meltdown in the financial
world, the main driver of property development,
caused the system to arrest.
Webster explains: “People just stopped
building. Nothing has been built and nobody has
done anything speculatively since then. Nobody
wants to take any risk.”
Four years post-crash, there is still hardly any
development and many fear a crisis point. Due to
banks’ continuing aversion to significant lending,
without a pre-let developers won’t get backing, so
the only solution, according to Jones Lang LaSalle
research director Jon Sleeman, is for retailers to
approach developers with a specific order to get
warehousing built for a specific purpose.
“Right now one of the challenges for retailers
is to find quality space,” he says. “There hasn’t
been enough development. So retailers have
to negotiate with developers over build, to suit
designs, and that can take longer.”
But this isn’t straightforward either. The
problem with having a shed made to order is that
the developer is usually starting from scratch, and
while a warehouse is quicker to build than a store,
it can still take far longer than many assume.
“Retailers really need to plan ahead and
consider the whole life span of a building,” says
Webster. “43% of retailers start thinking about
their next step one or two years away from a break
or lease expiry. This isn’t enough. There’s a lot
to think about, people aren’t giving themselves
enough time to go and get something built.”
The challenge for retailers is to
find quality space. There hasn’t
been enough development
Jon Sleeman, Jones Lang LaSalle
Boots’ new
distribution centre
opened this year in
Burton on Trent
InvestIng In the bestProviding for the long‑term future of our Global customers.
gazeley.com/retail
UK | europe | China | Middle east
26. 24 RWP | November 2012 | retail-week.com
Partly as a reaction to the slowdown in supply,
retailers are adopting a ‘less is more’ approach, to
make maximum use of existing warehouse space.
The Co-Operative Food head of logistics
service Mark Leonard says: “The next 12 months
will see the last of the large composite sites ramp
up and this will see a reduced rate of growth in
logistics and warehouse space.The trend will then
be to get more from these facilities by increased
centralisation and collaboration. In short, lean
supply chains are the priority in the retail sector.”
Less is more
Making the most of existing facilities is a growing
trend across UK retail, says Rick Ballard, director
of supply chain management consultancy The
Logistics Business. However, the decision to opt
for this approach is still tricky.
“The big companies are looking to condense
space and make better use of it,” he says. “But it’s
always a compromise because if you have fewer
warehouses you have higher transport costs. It’s
all a trade-off.”
Reducing property outgoings will therefore
have a huge impact on transport options, an area
of the supply chain that will be the next game-
change for the industry, according to Sleeman.
“Retailers now understand much more than they
did that logistics is at the heart of their competi-
tiveness. It’s not just a cost,” he says.“Big retailers
like Tesco, The Co-operative, Somerfield and
Waitrose are all going through a realignment of
their supply chains. Especially where retailers are
sourcing supplies from overseas, they need to
look at the railways and deep sea ports for new
warehousing facilities.”
Future warehousing decisions will be linked
to such infrastructure considerations. A Tesco
spokesperson explains: “The focus on developing
our national and regional warehouse network has
been supported by investment in our transport
operations.We now run one of the largest double-
deck delivery fleets,moving products into regions
as well as direct to our biggest stores. This has
reduced our road miles by more than 110 million
Tesco has invested in its transport operations with a facility at the Daventry International Rail Freight Terminal
Retailers really need to plan
ahead and consider the whole
life span of a building
Mark Webster, Cushman & Wakefield
n Value retailer Poundland plans to use its
new 200,000 sq ft distribution centre to
service Europe when it opens stores on
the continent. The distribution centre, in
Hoddesdon, Hertfordshire, fulfils stock for
Poundland’s southern stores.
n House of Fraser is “investing heavily” in
online operations and has switched one of its
distribution centres to online-only fulfilment
as multichannel grows. House of Fraser
opened a second distribution centre in
Wellingborough, Northamptonshire last
summer, and its original warehouse in Milton
Keynes has been given over to ecommerce
orders to support the channel’s growth.
n Earlier this year, SuperGroup moved to a new
distribution centre in Brockworth, Gloucester
to make its operation more efficient. The
distribution centre has the capacity to support
the retailer’s expansion. SuperGroup invested
£1.5m in moving its retail operation to the
larger, 250,000 sq ft distribution centre,
which is managed by supply chain solutions
provider Wincanton.
n Fortnum & Mason is investing in a new
distribution centre in Cambridgeshire.
n Ocado is achieving greater efficiency at its
Hatfield distribution centre, and will benefit
from the economies of scale gained from
its second distribution site, due to open in
Warwickshire in 2013.
n Over the past year, Harrods spent £107.8m
refurbishing its store and opening a new
distribution centre in Reading.
n Alliance Boots’ Burton on Trent distribution
centre, which opened at the beginning of
the year, is expected to bolster growing
online sales.
Investing in the future
miles,saving 142,000 tonnes of carbon dioxide.In
parallel, we have developed a rail operation that
moves up to 1,500 rail containers a week across
the UK using five dedicated trains, with plans to
increase this number.”
This rail resurgence represents one of the most
interesting developments in recent years, and
it’s safe to assume more similar thinking can be
expected from other retailers before too long.
Warehousing is a complex issue at the moment.
Compared with the straightforward days before
the crash, now logistics is a real balancing act. On
one hand, growth is being stifled by a massively
reduced property supply, and, or possibly as a
result, retailers are having to find ways to make
less space go further.
But, even if retailers succeed with the ‘less is
more’ approach and improvements to transport
and logistics, buildings will become old fashioned
and run down, and the supply problem will only
get worse if the pipeline problem remains.
Webster believes that there’s only one real
solution long term. “More space needs to be
built,” he says.“Somebody needs to start building
speculatively. There is so much demand that
buildings don’t remain empty for long.” n
TRUSTEDby some of the world’s leading retailers for 25 years.
gazeley.com/retail
UK | Europe | China | Middle East
27. gazeley.com
UK | Europe | China | Middle East
DeliveryWe always deliver on the promises we make,
as over 100 customers will testify.
Gazeley. a Global developer of loGistics warehouses
28. LIVERPOOL
For all enquiries contact
Claire Hepburn SUPERPORT Manager
+44 (0)151 237 3956
www.liverpoollep.org
• CARBON EFFICIENT • COST EFFECTIVE
• LOGISTICAL SENSE
At the
beating
heart of UK
logistics
LIVERPOOL
For all enquiries contact
Claire Hepburn SUPERPORT Manager
+44 (0)151 237 3956
www.liverpoollep.org
• CARBON EFFICIENT • COST EFFECTIVE
• LOGISTICAL SENSE
At the
beating
heart of UK
logistics
29. Liverpool City Region
SUPERPORT
Major Developments
The greatest challenge facing the logistics industry today is how to reduce
cost and carbon from the movement of goods whilst improving client
services. Moving goods by ship, rail and air directly to central, densely
populated areas provides the best way of meeting these challenges.
SUPERPORT is situated in the largest, most densely populated, centrally
located region of the UK. Its extensive port, canal, airport, motorway and
strategic rail freight interchange facilities deliver the logistics infrastructure
business needs. A further £1billion investment is scheduled over the next 3
years to significantly enhance these facilities and their capacity.
With a large, appropriately skilled and available workforce, outstanding
development sites, and a highly competitive cost environment,
SUPERPORT delivers the UK & Ireland’s most cost effective, carbon
efficient logistics solution.
For all enquiries please contact Claire Hepburn by emailing
Claire.Hepburn@liverpoollep.org or calling on 0151 237 3956.
EUROPEAN UNION
Investing in Your Future
European Regional
Development Fund 2007-13
• Peel Ports new £300m deep water container
terminal
• Capacity for two 13,500teu vessels to berth
simultaneously
• Up to 5m sq ft of port and ship canal warehousing
• Manchester Ship Canal - green corridor to
inland population centres
• One of Europe’s largest business parks covering
544 hectares
• HQ, manufacturing and distribution space from
76,962 sq ft to 426,305 sq ft
• Rail freight terminal facility
• Key sites include Alchemy, Academy and Potter
Group Logistics
WestCoastMainline
Warehouse Sites
and Premises
Mersey
Gateway Bridge
Manchester
Ship Canal
MANCHESTER
SHIP CANAL
MANCHESTER
SHIP CANAL
Liverpool
John Lennon
RIVER
M
ERSEY
3MG
Airport
Manchester
International
Airport
DAILY CONNECTIONS
TO BELFAST AND DUBLIN
LIVERPOOLLIVERPOOL
MANCHESTERMANCHESTER
PORT OF
LIVERPOOL
PORT OF
LIVERPOOL
2
3
1
Liverpool 21
• One of the UK's largest inter-modal logistics parks
• Potential for up to 3.5m sq ft of warehousing
• Direct access to West Coast Main Line handling
120,000 containers pa
• Partnership between Halton Council and
The Stobart Group
Mersey Multi Modal Gateway (3MG)2
Knowsley Industrial and Business Park3
Liverpool City Region
SUPERPORT
Major Developments
The greatest challenge facing the logistics industry today is how to reduce
cost and carbon from the movement of goods whilst improving client
services. Moving goods by ship, rail and air directly to central, densely
populated areas provides the best way of meeting these challenges.
SUPERPORT is situated in the largest, most densely populated, centrally
located region of the UK. Its extensive port, canal, airport, motorway and
strategic rail freight interchange facilities deliver the logistics infrastructure
business needs. A further £1billion investment is scheduled over the next 3
years to significantly enhance these facilities and their capacity.
With a large, appropriately skilled and available workforce, outstanding
development sites, and a highly competitive cost environment,
SUPERPORT delivers the UK & Ireland’s most cost effective, carbon
efficient logistics solution.
For all enquiries please contact Claire Hepburn by emailing
Claire.Hepburn@liverpoollep.org or calling on 0151 237 3956.
EUROPEAN UNION
Investing in Your Future
European Regional
Development Fund 2007-13
• Peel Ports new £300m deep water container
terminal
• Capacity for two 13,500teu vessels to berth
simultaneously
• Up to 5m sq ft of port and ship canal warehousing
• Manchester Ship Canal - green corridor to
inland population centres
• One of Europe’s largest business parks covering
544 hectares
• HQ, manufacturing and distribution space from
76,962 sq ft to 426,305 sq ft
• Rail freight terminal facility
• Key sites include Alchemy, Academy and Potter
Group Logistics
WestCoastMainline
Warehouse Sites
and Premises
Mersey
Gateway Bridge
Manchester
Ship Canal
MANCHESTER
SHIP CANAL
MANCHESTER
SHIP CANAL
Liverpool
John Lennon
RIVER
M
ERSEY
3MG
Airport
Manchester
International
Airport
DAILY CONNECTIONS
TO BELFAST AND DUBLIN
LIVERPOOLLIVERPOOL
MANCHESTERMANCHESTER
PORT OF
LIVERPOOL
PORT OF
LIVERPOOL
2
3
1
Liverpool 21
• One of the UK's largest inter-modal logistics parks
• Potential for up to 3.5m sq ft of warehousing
• Direct access to West Coast Main Line handling
120,000 containers pa
• Partnership between Halton Council and
The Stobart Group
Mersey Multi Modal Gateway (3MG)2
Knowsley Industrial and Business Park3
30.
31. P
erennial questions about the size of
retailers’ store estates have become
even more persistent as the industry
has been responding to the impact
of the UK’s recession. Curbing expansion, or
even downsizing, has been a priority for some,
and Marks & Spencer is one of the more high-
profile retailers announcing a scaling back of UK
store expansion plans this year. Arcadia,
meanwhile, has made no secret of the fact that it
may not be renewing swathes of the leases due to
expire in the next five years, leaving it with a
smaller store portfolio than it has at the moment.
In fact, in September, figures from property
agent CBRE’s Chain Expansion report,
showed that the number of shops operated
by multiple retailers fell for the first time in
14 years during the first half of 2012. In
addition, the importance of offering a
multichannel service to customers is also
affecting store formats, and therefore space
requirements.
However, there are retailers still looking for
that perfect property spot, and many have
taken advantage of the downturn to up their
own expansion.
Quality matters,
notjustquantity
It has been a tough year for retail property directors as the
economic downturn and the rapid development of multichannel
commerce have forced many to re-evaluate their store portfolios.
But as Ben Cooper finds out, it’s not only a case of downsizing
One sector where this is particularly notice-
able is the value market. Poundland property
director Craig Bales is quick to admit that the
current climate is a golden opportunity for
the value retailer.
Not only is the squeeze on consumer spend
causing a flight towards discount shopping, but
landlords grappling with sluggish demand and
rising void rates are offering the kinds of deals
that have allowed Poundland to open stores at
rapid rate.
Poundland is one of the few retailers really
pressing hard with expansion amid all the
challenges of the market, and its rivals B&M
Bargains, Home Bargains and 99p Stores are
doing the same.
By the end of this financial year, Poundland
will have added 68 new stores, an extra 400,000
sq ft, to its portfolio. That will take the overall
portfolio from the 389 stores it had at the
beginning of the year to 457, an increase of
17%, and a similar expansion to that under-
gone by the retailer in 2011/12.
And Bales expects growth on the same scale
next year. He says: “There’s a clear opportunity
for us to expand at the moment. In the current
conditions consumers are challenged and we’re
providing an opportunity for them, hence the
growth of the whole sector.”
Homewares retailer
Dunelm Mill is
expanding, opening
14 stores last year
retail-week.com | November 2012 | RWP 29
32. 30 RWP | November 2012 | retail-week.com
Meanwhile, homewares retailer Dunelm
Mill is also still in expansion mode, but has
been carefully calculating its requirements.
According to its latest market scan, the retailer
will require about 200 stores to cover the UK,
says chief executive Nick Wharton. The retailer
opened 14 last year, with a likely 12 by the end
of this year.
Fellow home products retailer Lakeland is
also looking at expansion. “We are currently
trading out of only 60 locations, and our expec-
tation is we will continue to expand,” says
Lakeland marketing director Tony Preedy. New
stores this year have included its new-look
formats in Brighton,Bluewater and Enniskillen.
Multichannel conundrum
The increasing importance of multichannel
retailing is another crucial factor influencing
property directors’plans at present, as it poses a
conundrum.
On the one hand, more shoppers buying
goods online means fewer sales over the
counter and therefore a falling demand for
physical space. However, a study by UK
property agency CBRE this year of the likely
effects of multichannel on retailers’ property
strategies, found that 60% of retailers
But even despite such growth,Bales expresses
a note of caution, not just about Poundland’s
own fortunes but for the whole value sector. It
might be undergoing a growth spurt, but the
value sector must, he says, know its own limits.
“There’s been a race for space, but it’s not
sustainable,”he says.“We can’t keep going on at
the same rate. We can’t all have 800 stores. It’s
effectively a new market and there are a lot of
players in it, but there’s going to be some
consolidation.”
Retailers are expanding at the other end of the
value scale too though. For example, niche
upmarket grocer Booths, based in the north of
England, is looking at cautious expansion of its
portfolio, currently comprising 29 stores. But
as Booths property director Graham Booth
explains, it is being very selective about its store
decisions.
“Despite the difficult economic backdrop
Booths has continued to pursue opportunities
to replace ageing stores and build new ones in
areas of the north where its style of retailing
is most likely to be appreciated,” says Booth.
“Booths has a unique retailing proposition
for which there is a sufficient level of demand
in new districts within the north. We take
a long-term view of property development
and seek to open at least four stores over the
next five years”.
Multichannel retailers have to think about
driving footfall from store to web and web
to store – there has to be synergy
Tony Devlin, CBRE
Lakeland expects
to expand on its
60 locations
Booths plans at
least four new
stores in the
next five years
33. WORKSOP
NOTTINGHAMSHIRE S81 7BQ
we’re better connected...
rob.oliver@gva.co.uk
mark.fitzpatrick@gva.co.uk
charles.binks@knightfrank.com
rebecca.schofield@knightfrank.com
Arrow’s strategic location provides unparalleled
road access to the major cities of the Midlands
& the North and the air, sea and rail ports via the
national motorway network.
The centre point for distribution throughout the UK
330,418 Sq ft
New industrial/distribution scheme
For Sale/To Let
www.arrowworksop.co.uk
ARROW WORKSOP NOTTINGHAMSHIRE S81 7BQ
34. There’s been a race for
space, but it’s not sustainable.
We can’t keep going on at
the same rate
Craig Bales, Poundland
32 RWP | November 2012 | retail-week.com
surveyed – with a total 32,000 stores between
them – said they would have more shop space
in two years’ time as a result of multichannel
retail, while only 28% said they would have
fewer domestic stores in 2014 than now.
Most retailers predicted their online sales to
double over the next two years and 63% said
they would like to have a fully integrated
multichannel offer up and running by the end
of 2014. In addition, two-thirds planned to use
their stores as delivery points for goods bought
online and 80% planned to install kiosks as
shopping points.
Therefore, a new type of demand is emerging
– not for legions of new stores, but for
carefully selected units suitable for the shop
of the future.
Patrick Keenan, director of property
consultancy Lunson Mitchenall, cites the
successful multichannel players as being some
of the big drivers for space in the current
market, and in the future. “Clever retailers
make best use of internet shopping offers to
generate customer interest and brand loyalty,
and bolt-on in-store performance through
returns and so on,” he says. “Despite talk of
retailers downsizing,in many cases the opposite
seems to be occurring, and retailers are actively
looking at increasing both overall size of store
portfolio and/or individual size of stores.”
For some retailers the key is ensuring the
fewer stores they keep are as impressive as
possible, says CBRE head of high street retail
Tony Devlin. The success of the whole brand,
he says, depends on it. He explains: “A store is
the shopfront to the whole business. The store
has to be the ‘best in class’. Multichannel
retailers have to think about driving footfall
from store to web and web to store – there has
to be a lot of synergy there.”
Lakeland, for example, is experimenting
with a new format and design “to bring
the product displays more to life”, says
Preedy. “Stores have an important role to
play in creating the brand and an image in the
Chasing space
n Kitchens specialist Harvey Jones has revealed plans for 70 shops across the UK. The 26-store
retailer is eyeing 1,000 sq ft premises in well-heeled spa towns including Cheltenham, where it
will open a store in December.
n Kiddicare opened a new store in Nottingham in September, the first of 10 planned new
superstores.
n Men’s tailor Dalvey plans to expand its portfolio after enlisting retail property adviser
Harper Dennis Hobbs to help it find properties across the UK. Harper Dennis Hobbs is looking
for stores of between 1,000 sq ft and 2,000 sq ft in high-footfall areas including London’s
West End and the City. Other potential locations include Birmingham, Cardiff, Edinburgh
and Leeds.
n Value retailer Poundstretcher earlier this year revealed an ambitious expansion strategy as
it aims for a total of 900 UK stores.
to work particularly hard these days to
entice customers.
“Being a one-stop shop and broad-range
category proposition, that does need space to
bring it to life,” says Wharton. “Our average
store is 30,000 sq ft with 20,000 SKUs.”
Value sector activity
Returning to the value sector, Devlin points out
that some of the retailers with the biggest
appetite for physical space are those without
the multichannel platform, because they don’t
have to factor in this necessity. “Some of the
discount players such as B&M, Home Bargains
and Poundland are very active partly because
they don’t have an ecommerce platform,” he
says. “It’s not something that has to affect their
decision-making process.”
Another value retailer that has been signing
major new stores is Primark. The most recent
of these include a 90,000 sq ft unit at the
Hermes-owned Centre:MK in Milton Keynes
as well as one on Oxford Street. Centre:MK
asset manager Gavin Murray says the deal is a
clear sign that the opportunities exist for value
players, as long as the space is exactly right.
“It’s the natural evolution of retail,” he says.
“This is the only type of site that Primark
would have taken because it needs to be
connected to other good retail space and it
needs large units.” So the demand is still there,
but, as Murray says, “retailers are looking for
fewer but better stores”.
The days of exuberant growth are certainly
gone, but there are still many retailers looking
for the perfect space. The difference, it seems, is
that where quantity was the name of the game
five years ago, whether you are a multichannel
player or not, the next stage is most definitely
all about quality. n
mind of consumers, and then the web can
capitalise on that.”
Wharton also carefully considers the impact
of online on the Dunelm store portfolio.
The retailer’s property projections are
under constant review, he says, so that if
the impact of multichannel on property
requirements shifts, the retailer is ready
to adapt. However, for now there is no inclina-
tion towards downsizing in format terms
at Dunelm. But ultimately, the store needs
Poundland is
pressing on
with expansion
35. Belgium l Czech Republic l France l Germany l Netherlands l Poland l UK
Search online at
SEGRO.com/propertysearch
FLUENT IN LOGISTICS
SPACE ACROSS EUROPE
Belgium l Czech Republic l France l Germany l Netherlands l Poland l UK
36. ■ Heating, sprinklers, lighting
■ 60m Yard depth
■ Full vehicular site circulation
■ 14 level access loading doors
■ 4 Cranes
■ 438 Car spaces
■ Sub divisible
David Binks
david.binks@eur.cushwake.com
Jonathan Maher
jonathan.maher@eur.cushwake.com
Robert Rae
rrae@nrsproperty.co.uk
Andrew Jackson
ajackson@nrsproperty.co.uk
J2, M6/M69
NORTH VIEW WALSGRAVE J2,M6/M69
COVENTRY
CV2 2SJ
For further information please contact the joint agents.
www.trianglecoventry.co.uk
37. retail-week.com | November 2012 | RWP 35
Mapping out Mapic
TUESDAY NOVEMBER 13
13.00-14.30 Mapic digital lunch
(by invitation only)
Gray D’Albion Hotel
14.30-17.00 Mapic digital summit: threats and
opportunities – what are the new emerging
business models? (by invitation only)
Gray D’Albion Hotel
19.30 Mapic opening cocktails
Majestic Hotel
WEDNESDAY NOVEMBER 14
10.00-10.45 Keynote address: inventing the
future of retail
Robert Tercek, founder, General Creativity
Consulting / chairman, Creative Visions
Foundation (US)
Champs-Elysées Room
As recent advances in mobile technology and
digital media have made it possible to blend
real world retail environments with data, Tercek
explores the possibility of combining digital
technology with retail in order to re-imagine
the shopping experience.
10.30-11.00 A happy marriage: culture and
retail in love
More Vision Pavilion
11.00-11.30 In-store product pick-up: value
add for bricks and mortar?
More Vision Pavilion
11.15-12.30 Culture and shopping: can we
make it work?
Oxford Room
Christophe Dalstein, executive director, Europa City
SAS – Groupe Auchan (France), Gerard Groener,
chief executive, Corio (The Netherlands), Basia
Metelska, member of the board and marketing
and PR director, Stary Browar (Poland) and Agnès
Saal, executive director of the Centre Pompidou
(France) discuss ways in which cultural institutions
and retail spaces can collaborate.
11.30-12.00 Retail in transit and tourist hubs
– top 10 locations
More Vision Pavilion
Peter Clucas, managing director, Clucas
Communications, explores the range of locations
for retail operations.
14.15-15.00 Luxury retail: a cut above
Champs-Elysées Room
Luca Della Torre, retail manager Europe and
international co-ordinator, Roberto Cavalli
(Italy), speaks with global experts from
Cushman & Wakefield
15:00-15.45 Keynote address: the future of
the retail real estate market in Russia
Maxim Karbasnikoff, head of retail, Cushman
& Wakefield (Russia)
Champs-Elysées Room
Karbasnikoff shares insight on changes in
consumption patterns and the main drivers of
retail development in Russia.
15:00-16:00 Speed matching: discover
five retail concepts:
Aerial Adventures – Leisure (UK)
America’s Taco Shop – Food (US)
Funky Fish – Fashion (Israel)
Grom – Food (Italy)
Koton – Fashion (Turkey)
Oxford Room
15.30-16.00 That magic moment: entice, welcome
and persuade through culture
More Vision Pavilion
16.00-16.30 Digital platforms: must have and
Highlights of this month’s Mapic property conference at the
Palais des festivals in Cannes, France
38. 36 RWP | November 2012 | retail-week.com
nice to have for shopping centres
More Vision Pavilion
16.00-16.45 Retailers’ expansion in the
Russian market: risks and opportunities
Champs-Elysées Room
16.00-17.00 Speed matching: discover
five shopping centre projects
Oxford Room
Five shopping centres – Crescend’eau by
Allfin NV in Belgium, Fischapark by SES Spar
in Austria, Luwan integrated development
by CapitaMalls Asia in China, Moskvorechie
shopping and entertainment centre by
Garant-Invest Group in Russia and Time
Square Retail Redevelopment by Vornado
Realty Trust in the US –pitch their developments
to retailers and investors.
17.00-17.45 All to play for in Russia – growing
sales in the children’s market
Champs-Elysées Room
19.30 Russian collection dinner (by invitation only)
Salon des Ambassadeurs, Palais des Festivals
THURSDAY NOVEMBER 15
8.30-11.00 Retail in the city summit – retail: the
secret asset of cities
Champs-Elysées Room
Julie Grail, chief executive for British BIDs, shares
insight on why retail should be recognised as
a key ingredient of success in cities.
8.30-12.00 Russian breakfast (by invitation only)
Majestic Hotel
9.00-10.00 Retailer expansion 2013 – which
countries will be hot spots for new stores?
Oxford Room
The session looks at where retailers will expand
in 2013. How many stores will they be opening?
How are expansion plans being impacted by the
ever-growing importance of multichannel retailing?
10.00-10.30 How do you engage with your
customers online and offline?
More Vision Pavilion
10.00-10.45 Evaluating the emerging world’s
retail hot spots beyond just growth aspects
Oxford Room
10.30-11.00 In-store product pick-up: value add
for bricks and mortar?
More Vision Pavilion
11.00-11.45 The path to discovering Arabian gold
to have shopping centres
More Vision Pavilion
17.00-17.45 Is Europe losing its investment shine?
Champs-Elysées Room
17.00-18.30 Italy: the next opportunity
Oxford Room
17.00 New retailer cocktails (by invitation only)
Lerins Forum
20.00 Mapic Awards gala dinner
Martinez Hotel
23.00 MAPIC Awards party
Martinez Hotel
FRIDAY NOVEMBER 16
10.30-11.00 A happy marriage: culture and
retail in love
More Vision Pavilion
11.00-11.30 Digital platforms: must have and
nice to have for shopping centres
More Vision Pavilion
11.00-11.45 Keynote address: James Brown,
director, Jones Lang LaSalle (UK)
Champs-Elysées Room
11.30-12.00 That magic moment: entice, welcome
and persuade through culture
More Vision Pavilion
Hélène Wang and Annabelle Diot of Lordculture
explore how cultural offerings can entice customers
towards shopping malls and transit zones.
Oxford Room
Is the market saturated or is there room for
additional competition? Has the bubble burst in
Dubai, and what can Abu Dhabi offer retailers?
12.00-12.45 Poland: is the sky the limit?
Oxford Room
Paul Kusmierz, president, Master Management
Group, shares the pros and cons of investing in
Poland and debates which stores are looking to
expand in the country.
12.15-13.00 Ecommerce: impact and consequences
for the logistics industry
Champs-Elysées Room
15.00-15.45 Outlet retailing – secrets for success
Champs-Elysées Room
Jayne Rafter, publisher and joint managing director
of RLI C/O Paramount Publications (UK) and Lestyn
Roberts, chief executive of Freeport Retail (UK)
discuss the buoyant outlet sector and explores how
retailers should be looking to embrace the concept
in future expansion strategies.
15.30-16.00 The power of pop-up shops
More Vision Pavilion
PopItUp.eu co-founders Els Demey and Jody Duyck
explain why the pop-up store is a key strategy for
real estate companies and landlords, as well as
brands, retailers and city councils.
16.00-16.45 How is Turkey placed in today’s retail
real estate global investment world?
Champs-Elysées Room
16.30-17.00 Digital platforms: must have and nice
*Information up to date at time of going to press
39. APEXLINVAR.CO.UK
Tel 01908 561 222
Email enquiries@apexlinvar.co.uk
www apexlinvar.co.uk
www storagedirect.co.uk
THERE IS A BETTER
WAY TO SAVE SPACE
SpeedCell’s innovative design typically
allows you to store 60 - 70% more products
into previously underutilised bays, increase
picking rates by up to 85% and vastly improve
warehouse efficiency. The flexible dynamic
SpeedCell storage system can be installed into
new or existing traditional racking systems.
STORAGE SOLUTIONS THAT ADD VALUE
www.apexlinvar.co.uk
RW-b 10/12
TRANSFORM DEAD
WAREHOUSE SPACE
AND SAVE MONEY
WITH SPEEDCELL
MOBILE SHELVING.
SCAN FOR
MORE INFO
ON SPEEDCELL
40. www.co-operative.coop/foodproperty
All enquiries: co-operativefoodproperty@co-operative.coop
A Dozen ReasonsTo bring new site opportunities to us.
www.foundationrecruitment.co.uk
Manchester * 0161 638 8740
London * 020 7484 5086
info@foundationrecruitment.co.uk
Follow @foundationrec Foundation Recruitment
* General Practice Surveying
* Shopping Centre Management
* Facilities Management
* Retail & Leisure Estates
* Property & Retail Marketing
THE onE SToP SHoP
FoR RETaiL ESTaTES
RECRuiTMEnT
PRE1745 Foundation Retail Week ad AW.indd 1 04/09/2012 12:00
41. retail-week.com | November 2012 | RWP 39
View the digital edition online at
www.retail-week.com/property
RetailWeek
PROPERTY
Some of the key retail property deals that have been completed in the UK in recent months
Dealsdigest
1
Type High street
Date August 2012
Location 170 and 181
Westbourne Grove, London
Tenant Scotch and Soda
Size Both 1,000 sq ft
Description Cushman &
Wakefield has acquired the
first two stores in London
for Amsterdam-based
fashion brand Scotch &
Soda. One will trade as
Scotch and Soda menswear
and the other as Maison
Scotch womenswear
Landlord agents The
landlord of 170 Westbourne
Grove was represented by
Christopher Chaplin Associ-
ates and the landlord of
181 Westbourne Grove was
represented by Orme Retail
Tenant agent Cushman &
Wakefield
2 Type Leisure
Date August 2012
Location Ealing Broadway
Centre / Telford Southwater
/ Fulham Broadway Centre
/ Southampton West Quay.
Tenant Wagamama
Size 5,300 sq ft / 3,500
sq ft / 2,800 sq ft /
3,500 sq ft
Description These are
the latest sites acquired
as Cushman & Wakefield
continues to act for
Wagamama in its expansion
across London and the
UK. Wagamama aims
to open another 15 to
20 sites in the next year
across the UK
Tenant agent Cushman &
Wakefield
3 Type High street
Date September
2012
Location 2 Grosvenor
Street, Mayfair, London
Tenant Agent Provocateur
Landlord Royal London
Asset Management
Size 1,500 sq ft
Lease length 10 years
Description In addition
to multiple lettings across
Europe, Cushman &
Wakefield advised Agent
Provocateur on the acquisi-
tion in Mayfair, which
is expected to open in
November 2012
Landlord agent Savills
Tenant agent Cushman
& Wakefield
4 Type Shopping centre
Date August 2012
Location Brent Cross
shopping centre
Tenant Lola’s Cupcakes
Landlord Hammerson and
Standard Life Investments
Description Lola’s
Cupcakes has opened
a new concept, Lola’s Cafe,
at Brent Cross
Landlord agents Cushman
& Wakefield and Lunson
Mitchenall
Tenant agent HDH
5 Type High street
Date September
2012
Location 50 and 54/56
Buchanan Street, Glasgow
Tenants Office (50
Buchanan Street) /
Charles Tyrwhitt (54/56
Buchanan Street)
Landlord Redevco
Size 3,600 sq ft /
2,705 sq ft
Lease length Both 10
years
Description Cushman &
Wakefield represented
Redevco on new sites for
Office and Charles Tyrwhitt
on Buchanan Street in
Glasgow, which forms
part of the Princes Square
scheme
Landlord agent Cushman
& Wakefield
Tenant agents Charles
Tyrwhitt was not repre-
sented and Office was
represented by CBRE
6 Type Shopping centre
Date September
2012
Location St David’s, Cardiff
Tenants Hamleys
Landlord Capital Shopping
Centres and Land Securities
Size 13,000 sq ft
Description Cushman &
Wakefield acted for St
David’s, Cardiff on the
first Welsh store for
Hamleys due to open in
November 2012
Landlord agents Cushman
& Wakefield and Jones
Lang LaSalle
7 Type High street
Date September
2012
Location Bond Street,
Chelmsford
Tenant John Lewis
Landlord Aquila
Size 119,000 sq ft
Description Cushman &
Wakefield represented
John Lewis on acquiring
a site that will anchor the
second phase of the Bond
Street retail development
in Chelmsford with its third
flexible format store
Landlord agent Douglas
Stevens
Tenant agents Cushman &
Wakefield and Ashworths
Chartered Surveyors
8 Type High street
Date September
2012
Location 16 High
Street, Kirkcaldy
Tenant The Great
4
2
Data by:
42. View the digital edition online at
www.retail-week.com/property
RetailWeek
PROPERTY
American Diner
Landlord The Rasul Group
Size 729 sq ft
Lease length 10 years
Description The unit
comprises 729 sq ft of
ground floor sales space
and has been let for
10 years at a rental of
£15,000 per annum
Landlord agents Eric
Young & Co
9 Type High street
Date September
2012
Location 14 Elm Row,
Edinburgh
Tenants Key Player
Landlord The executors of
the late DD Coppola
Size 1,089 sq ft
Lease length 15 years
Description The unit
comprises 1,089 sq ft of
ground floor sales space
with an additional 937
sq ft in the basement and
has been let for 15 years
at a rental of £25,000
per annum
Landlord agent Links CPC
Tenant agent Eric Young
& Co
10 Type Retail
warehouse
Date August 2012
Location Brislington
Retail Park, Bristol
Tenants Sports Direct
Landlord Aberdeen
Asset Management
Size 7,500 sq ft
Lease length 10 years
Description Taking a total
area of 7,500 sq ft, the
store will join the park’s
current tenants, which
include Toys R Us, Matalan,
T K Maxx and Halfords
Landlord agent Savills
Tenant agent Mason
Partners
11 Type Shopping centre
Date September
2012
Location Lion Yard
Shopping Centre,
Cambridge
Tenant Hotter Comfort
Concept
Landlord Aberdeen Asset
Management
Size 1,627 sq ft
Lease length 10 years
Description Hotter
Comfort Concept will open
next to Clarks. It has taken
a 1,627 sq ft unit arranged
over basement and ground
floor levels
Landlord agents Smith
Price and Lunson
Mitchenall
Tenant agent Savills
12 Type Shopping centre
Date September
2012
Location Lion Yard
Shopping Centre,
Cambridge
Tenant Timberland
Landlord Aberdeen Asset
Management
Lease length 10 years
Description Timberland
will sit next to Hotel
Chocolat in part of the
old Disney store
Landlord agents Smith
Price and Lunson
Mitchenall
Tenant agent Jones
Lang LaSalle
13 Type Retail
warehouse
Date October 2012
Location Unit E4, Lakeside
Retail Park, Thurrock
Tenant Mamas & Papas
Landlord Ravenside
Investment
Size 5,265 sq ft
Lease length 15 years
Landlord agent
Morgan Williams
Tenant agent
Thompson Heaney
14 Type Shopping centre
Date September
2012
Location Christopher
Place, St Albans
Tenant Laura Ashley
Landlord Hermes
Property Unit Trust
Size 1,200 sq ft
Lease length Five years
Description Laura Ashley
joins other premium
retail and restaurant
brands Cath Kidston,
LK Bennett, Carluccio’s,
and The White Company
at Christopher Place.
The signing means all
retail units at the centre
are now fully let
Landlord agent
MMX Retail
Tenant agent In-house
real estate manager
15 Type Shopping centre
Date September 21,
2012
Location thecentre:mk,
Milton Keynes
Tenants White Stuff
Landlord Hermes
and Prupim
Size 2,400 sq ft
Description The unit is
the first taken by the
brand in a UK shopping
centre and is opposite
House of Fraser in the
Premium Quarter
Landlord agents GCW /
CBRE
Tenant agent Orme Retail
16 Type Retail
warehouse
Location Stour Retail
Park, Canterbury
Tenant Home Bargains
40 RWP | November 2012 | retail-week.com
15
19
Data supplied by:
43. Tuesday 18th December
Radisson Portman Square, London W1
7pm to 2am • Three course dinner
Live Band • Guest Speaker
Casino • Black Tie
Price £95.00 pp plus VAT
(£114.00 inc VAT)
Tables of 10 £950.00 per table plus VAT
(£1,140.00 inc VAT)
We have numerous sponsorship opportunities
available. Please contact Louise Oliver for more
information on: 01799 544902 or by
Email: info@orbsupport.co.uk.
Limited tickets available. Please book early!
Bookings confirmed on receipt of payment.
No refunds available.
Call 01799 544902 to book your places
shopagentssociety.com
info@orbsupport.co.uk.
Supporting
