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January 2019 RETAIL DESTINATION JANUARY 2019 THE BUSINESS OF RETAIL FORMERLY SHOPPING CENTRE MAGAZINE HAMMERSON’S LEEDS HAMMERSON’S LEEDS MALL EMBRACES SUSTAINABILITY Commercialisation Sustainability Technology Pop-ups draw online Leeds solar project New approach to brands to the mall for Hammerson shopper communication TECHNOLOGY RETAIL IS CHANGING. Create experiences that change with it. We combine giant LED platforms with larger-than-life creative to inspire, engage and interact at scale. Static interiors and architecture are transformed into HMKMXEPGERZEWIW[LIVIFVERHWƽSYVMWLERHEYHMIRGIW are captivated, with visitors staying longer and returning more frequently. See our vision for future retail destinations at www.adi.tv/create For more information visit www.adi.tv/create 0800 592 346 | [email protected] | www.adi.tv 2 | SEPTEMBER 2018 www.shopping-centre.co.uk CONTENTS NEWS & ANALYSIS EDITOR'S LETTER 04 Outlet plan for Leith centre It’s hard to argue with Sir John Timpson’s conclusion, in his 06 12 new brands join o2 Icon new report on the state of the high street, that the UK has twice as many shops as it actually needs. The question is how do we 08 Waterloo woos Time Out Market manage the process of ‘de-retailing’ areas of oversupply? 12 Islington Square takes shape It’s not that we’re over shopped: we’re under-demolished. But there is a total lack of political will to grasp this nettle because there’s no votes to 16 Festive Season for Festival Place be had in throwing small businesses out of their shops and demolishing 20 familiar shopping parades. But that’s exactly what needs to be done. Looking back on Liverpool One Here’s a suggestion. Local authorities have spent over £1bn on buying FEATURES shopping centres, more often than not with money borrowed from central 22 government. Now that’s kept a few investment agents in a job this year and COMMERCIALISATION Pop-ups help online retailers enter the physical world it’s bailed out a few vendors when there was no other purchaser in town. 30 SUSTAINABILITY But would that money have been better spend compulsorily purchasing Hammerson’s Victoria Quarter embraces solar with innovative car port tertiary retail on the fringes of the high street, demolishing it and building the new homes that people so desperately need? Fragmented ownership is 36 TECHNOLOGY the biggest barrier to regeneration of failing retail locations, and it’s time Péarlaí pushes new approach to shopper communication we had a government willing to take the bold steps that are needed. REGULARS 40 DATA Retail facts & figures 43 PEOPLE Graham Parker Westgate wins Revo gold Editor,Editor, Retail DestinationDestination 12 22 BOOK N O CALLING ALL DELEGATES W 3 - 4 APRIL 2019 | HILTON METROPOLE BIRMINGHAM For more information please contact Charlie Whiston Email: [email protected] | Telephone: 01293 416 090 THE NEW HOME OF SCMC www.retaildestination.co.uk JANUARY 2019 | 3 NEWS destination | THE NEW HOME OF SCMC BOOK NOW | 3 - 4 APRIL 2019 | HILTON METROPOLE BIRMINGHAM EDITOR Graham Parker OUTLET PLAN FOR 07956 231 078 [email protected] EDITORIAL ASSISTANT Iain Hoey LEITH CENTRE 07757 946 414 [email protected] SALES MANAGER Resolution Property has unveiled plans to transform Ocean maritime centre of Edinburgh and home to the Royal Yacht Trudy Whiston Terminal, its waterfront shopping centre in Leith, Scotland Britannia and the development already welcomes 4.6 million 01293 416 090 [email protected] into a premium outlet retail and leisure destination. visitors annually and has a strong catchment of 952,000 people To be rebranded Porta, the new outlet destination will feature within a 60-minute drive. DATABASE MANAGER Frankie Butler 407,000 sq ft of shopping and leisure space hosting a new mix Ian Kitchen, partner at KLM Retail, said: “The key 01892 739 524 of aspirational and premium brands. Visitors will also be able to ingredients for a successful outlet experience are already [email protected] enjoy the existing leisure offer which includes a 12-screen Vue present for Porta to capitalise on. The waterfront location, DESIGN & PRODUCTION Cinema, Nando’s, Wagamama and Zizzi as well as a 24-hour strong leisure and restaurant offer, the Royal Yacht Britannia, Stuart West 01892 739 526 PureGym, skatepark and soft play area for children. a new whiskey museum, as well as high tourism numbers are [email protected] Due to open in Autumn 2019, Porta is close to all important factors in curating a destination experience. The PUBLISHING DIRECTOR Edinburgh city centre, in an area that has undergone scheme will also benefit from being in an affluent catchment, Helen Richmond radical regeneration in recent years. Leith is the old only 15 minutes from Edinburgh city centre.” 01892 739 523 [email protected] EDITORIAL BOARD Carl Foreman, Moorgarth; Bill Moss, Mall Solutions Europe; John Prestwich, Montagu Evans; James Taylor, Workman; Michelle Buxton, Toolbox; Jordan Jeffery, JLL; Sean Kelly, PR4Property No part of this publication may be reproduced without the written permission of the publishers. The Publishers accept no responsibility for any statements made in signed contributions or in those reproduced from other sources, nor for claims made in any advertisements. Retail Destination is available on subscription. UK & Ireland £96; Overseas £150. Retail Destination is published monthly. ISSN 0964-1793 | Printed by Stephens & George Ltd Retail Destination 29 – 31 Monson Road Tunbridge Wells Kent TN1 1LS www.retaildestination.co.uk DTZI BUYS CLAPHAM JUNCTION SHOPSTOP DTZ Investors has completed the freehold acquisition prime, fully let, mixed use, multi-let property in a dynamic of Shopstop, Clapham Junction, for around £137m. London location with significant future development Shopstop occupies a 2.3-acre site and provides 74,500 possibilities supported by the major infrastructure sq ft of retail, leisure and offices at one of the main improvements planned for this very busy rail interchange.” entrances to main entrance to Clapham Junction Fawcett Mead advised DTZ Investors on the acquisition, railway station, Europe’s busiest railway interchange, with Robinson Webster also providing occupational advice. with an estimated annual footfall of 31 million. The property is 100% let to tenants including M&S Simply Food, Sainsbury’s, Monsoon, Superdrug and Fitness First. There is also office space on the upper floors which houses the UK headquarters of Moss Bros. Over 20% of the current income is secured for over 10 years. Tony Brothwell, fund manager at DTZ Investors, All rights reserved said: “Shopstop represents a rare opportunity to acquire a © JLD Media 2019 4 | JANUARY 2019 www.retaildestination.co.uk NEWS destination | THE NEW HOME OF SCMC BOOK NOW | 3 - 4 APRIL 2019 | HILTON METROPOLE BIRMINGHAM METQUARTER RELAUNCHED After an 18-month repositioning 12 NEW BRANDS programme Queensberry has opened the new four-screen boutique Everyman Cinema at Metquarter in JOIN O2 ICON Liverpool, marking the first phase of the scheme’s relaunch as a premium Icon Outlet at The O2, the 210,000-sq ft premium retail and leisure destination. The urban outlet developed by AEG and Crosstree Real reconfigured scheme comprises 38 Estate Partners, has unveiled the latest brands to join units including three retail anchor the line-up. Since launching in October, 12 new brands units, a restaurant hub and the have opened including Asics, Build-A-Bear Workshop, 287-seat cinema, as well as a bar and Radley London, Remus Uomo, Moss Bros., Lead + Ball, dining area. Alongside Everyman, Sunglass Hut, Miss Sixty, Karen Millen, Scotch & Soda, Kids Cavern has recently launched and most recently international lifestyle brand Tommy in 15,000 sq ft and premium Hilfiger and clothing and accessories retailer FatFace. food hall operator Try Market Also opening later this month will be French Sole and Halls is to take 16,000 sq ft. Osprey London. Marion Dillon, leasing director for Icon Outlet, said: QUEENSWAY FUNDED “Since the launch of the first phase of Icon Outlet in Aviva is to fund Reef Group and October, we have radically grown our line up to include Stevenage Borough Council’s many leading and international brands, welcoming regeneration of the town’s former openings from twelve new brands in time for the festive M&S store and an adjoining season. This reflects the strong appeal of the destination parade of shops on Queensway. The as the UK’s leading urban outlet, and this along with development, which was granted the expansion of Cineworld and arrival of Oxygen consent in Summer 2018, consists Freejumping trampoline park, evolves The O2 into a of 45,000 sq ft of new retail and full-day destination, offering music, entertainment, F&B, restaurant space, a gym, new offices, leisure and retail all under one roof.” an innovation and technology centre CBRE and CWM are the retail leasing agents for and 116 apartments. Construction Icon Outlet. will start on-site early in 2019. BOURNEMOUTH MALL SOLD Verve Properties has bought the SOUTHEND LEISURE Avenue centre in Bournemouth’s Commercial Road. The 86,500- sq ft mall is anchored by HMV IN FOR PLANNING and Sports Direct and the new owners have plans to refurbish the Turnstone Estates has submitted a detailed planning leisure scheme, despite a number of unfulfilled restaurant property, beginning by replacing the application for its £50m Seaway family leisure scheme requirements. Seaway Leisure will provide a fantastic mix of dated glass façade. Verve director in Southend-on-Sea. The developer has pre-lets with leisure and restaurant uses which will help protect and enhance Ashley Nicholson said: “The plans Empire Cinemas, Travelodge, Hollywood Bowl and The the reputation of the seafront as a go-to destination for for The Avenue are still in the Restaurant Group and hopes to receive a decision from residents and visitors alike.” embryonic stage but we hope to the council by Spring 2019, with work starting on site attract familiar brands as well as later this year.
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