The days of concrete box, multi-storey car parks may be coming to an end. And not before time.
The London Borough of Brent has adopted Quintain’s masterplan for a 600-ha area surrounding Wembley Stadium. The masterplan includes a new retail high street running north of the stadium as well as 10,000 new homes, further hotels, conferencing facilities, cafes, bars and new offices.
Cushman & Wakefield says the investment market has stabilised. David Erwin, head of UK capital markets, said: “Although from a low base, there is an improvement in investment demand and activity. The whole feel of the market is more positive with a real depth of bidders for prime retail assets both in and out of town.”
Leeds’ Victoria Quarter is now 100 per cent let following the opening of two new stores. Jeweller Thomas Sabo and food outlet Opposite Cafe will open this month, giving the centre a full house. Developed by The Prudential in 1990, the centre is now owned by Bank of Ireland.
Niche retail developer Milligan has signed a joint venture with Eiffage to develop Portugal’s first “Retail Planet” in Lisbon.
Hamleys has signed up for a 30,000-sq ft store at Ivanhoe Cambridge’s extension to the St Enoch centre in Glasgow.
Shopping centre developer Modus Ventures has been placed in administration with KPMG appointed as administrator. Modus Ventures was at the heart of a web of companies the entrepreneur Brendan Flood used to hold his property and retail interests.
Equipping young people with core skills isn’t just the government’s job – retailers and centre owners have a responsibility too.
New research highlights the fact that UK rents are still absorbing too much of retailers’ takings, compared to other international markets.
Gone are the days of shelves stacked with two year old stock; factory outlets are becoming a channel in their own right
The UK’s leading car park company NCP turned to Siemens to overhaul its infrastructure to improve customer service.
An array of fashion stores have opened for business at Land Securities and British Land’s Bon Accord centre with four new lettings totalling 12,100 sq ft. Karen Millen took 3,200 sq ft for its first Scottish store out of the central belt. At the same time three other fashion brands have relocated to new, larger units within the centre with Warehouse taking 3,000 sq ft, Oasis 3,800 sq ft and Coast 2,100 sq ft.
The Springtime resurgence in retail sales ground to a halt in May as UK retail sales values fell 0.8 per cent on a like-for-like basis, according to the Retail Sales Monitor from the BRC and KPMG.
Rushmere Shopping Centre in Craigavon, County Armagh, has invested £200,000 to build a primary school in one of Uganda’s poorest regions. The Rushmere School which is due for completion this month, will educate over 400 under-privileged children.
Global real estate investment manager PRUPIM has appointed MALCOLM SMITH as chief operating officer. He is a former managing director and chief operating officer for Barclays Global Investors in Europe, and prior to this he was head of investment management consulting at PricewaterhouseCoopers and was previously a consultant at Mercer Human Resources. Smith will join the board of PRUPIM and will be based at the company’s headquarters in London.
Castlepoint in Bournemouth is repeating its Bag a Bra week, which last year raised £2,293.72 for the Dorset and Somerset Air Ambulance. Special pink recycling bins will be placed around the centre to collect unwanted bras.
Child Safe Zones is continuing to expand beyond the world of shopping centres, and the latest high-footfall destination to adopt the scheme is Birmingham’s New Street Station.
Manchester’s Lowry outlet mall has reported an 8 per cent rise in footfall and a 7 per cent rise in like-for-like sales in the year to May 2009. Centre manager Robert Hallworth said: “The Lowry Outlet Mall has performed way above expectations for May. The success has been down to strong, targeted marketing to really drive footfall as well as adding another great brand – Bella Italia – to our offering.”
To celebrate its relaunch, Shopping Centre commissioned an exclusive survey of centre managers from Business Blueprints to find out what’s happening out on the malls.
The advent of the internet bought with it a plethora of new communication and marketing tools that shopping centres can take advantage of.
Strangely, considering most of them are enclosed environments, the advertising industry counts shopping malls as part of the ‘outdoor’ media sector. And, like all advertising, outdoor is undergoing one of its worst-ever slumps. The Outdoor Advertising Association calculates gross spend fell 19.3 per year-on-year in the first quarter of 2009.
With its first standalone store in Ireland recently opening in Dundrum, the US clothing retailer is on an upward curve.