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March 2019 the Business of Retail Formerly Shopping Centre Magazine

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March 2019 the Business of Retail Formerly Shopping Centre Magazine RETAIL DESTINATION MARCH 2019 THE BUSINESS OF RETAIL FORMERLY SHOPPING CENTRE MAGAZINE OPERATORS RAMP UP CAMPAIGN AGAINST PARKING CHARGE CAP Regeneration Security Technology Intu invests at Where have all the Coniq digital loyalty program Merry Hill women gone? crowns Zsar outlet mall 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 MRXSHMKMXEPGERZEWIW[LIVIFVERHWƽSYVMWLERH audiences 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 CONTENTS NEWS & ANALYSIS EDITOR'S LETTER 04 Moorgarth raises the roof in Edinburgh As Retail Destination went to press Intu Properties released its full-year 06 Delancey and council revive Tricorn plans results for 2018 which showed a 14% year-on-year cut in the portfolio valuation, taking it back below the £10bn mark. And Colliers International 08 Captain Morgan lands at Landsec’s West 12 disclosed that just £150m of retail properties changed hands in the UK during January 2019, with only one shopping centre changing hands. 12 Intu invests at Merry Hill Intu’s performance was relatively robust with footfall beating the benchmark, FEATURES voids down only marginally and net rental income up. But that’s not enough for the valuers who, in the near total absence of market evidence, have to 13 SECURITY reflect what they perceive to be market sentiment in their pricing. Where have all the women gone? 18 Until something happens to change that negative sentiment, valuations are PARKING Call for parking professionals to unite in the fight the parking charge cap going to continue to fall and that will put landlords under pressure as their debts as a proportion of asset value begin to nudge up against the ceilings 30 TECHNOLOGY agreed with lenders. Coniq crowns Zsar outlet mall with digital loyalty program Both Hammerson and Intu have promised property disposals to bring down REGULARS their debt levels. The question is: are there any purchasers out there? 36 DATA Retail facts & figures 38 PEOPLE Westgrove appoints mental health first-aider Graham Parker Editor,Editor, Retail DestinationDestination 14 30 G24 StoreGuard® is the +44 (0) 370 0427215 brains behind an innovative [email protected] COLLABORATIVE real-time surveillance and www.g24.co.uk tracking system, which www.storeguard.co.uk CRIME DETECTION working in collaboration www.clearpark.co.uk AND PREVENTION with retailers helps prevent retail theft and fraud Parking Management Solutions www.retaildestination.co.uk MARCH 2019 | 3 NEWS destination | THE NEW HOME OF SCMC BOOK NOW | 3 - 4 APRIL 2019 | HILTON METROPOLE BIRMINGHAM EDITOR Graham Parker MOORGARTH 07956 231 078 [email protected] EDITORIAL ASSISTANT RAISES THE ROOF Iain Hoey 07757 946 414 [email protected] SALES MANAGER IN EDINBURGH Trudy Whiston 01293 416 090 [email protected] Moorgarth has unveiled plans for the roof deck at DATABASE MANAGER Edinburgh’s Waverley Mall, situated in the heart of Frankie Butler Edinburgh’s Old Town and adjacent to Waverley train 01892 739 524 station. The developer said the new proposal will [email protected] significantly improve the existing site, with the creation of DESIGN & PRODUCTION new easily accessible public realm and new retail and leisure Stuart West 01892 739 526 units bringing modern, flexible space, with many benefitting [email protected] from stunning south facing views overlooking Edinburgh’s PUBLISHING DIRECTOR Old Town and the Unesco World Heritage site. Helen Richmond Along with a newly designed spaces, a new entrance at the 01892 739 523 corner of Princes Street and Waverley Bridge will be created to widen the entrances onto Waverley Steps in an effort to enhance [email protected] enabling full disabled access, much improved access into the visitor experience to the centre and the general aspect up EDITORIAL BOARD Waverley Station and it will release the congestion at the top of the steps themselves. These works are well underway and due to Carl Foreman, Moorgarth; Bill Moss, Mall Solutions Europe; Waverley Steps by extending the pavement by over three metres complete shortly. In addition, Waverley Mall will soon undergo a John Prestwich, Montagu Evans; when travelling west towards the Scott Monument. programme of internal works, aimed at reviving the look and feel of James Taylor, Workman; Michelle Buxton, Toolbox; Jordan Jeffery, JLL; In March 2018, Moorgarth was granted planning permission the mall and this will include a total overhaul of the toilets. Sean Kelly, PR4Property; Lynette Howgate, Ashdown Phillips 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 URW UNVEILS 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 2632-1327 | Printed by Stephens & George Ltd WESTFIELD LONDON Retail Destination 29 – 31 Monson Road Tunbridge Wells Kent TN1 1LS EVENTS SPACE www.retaildestination.co.uk Unibail-Rodamco-Westfield and Broadwick Venues Spanning two floors, the 34,000-sq ft events and have unveiled plans for Exhibition, a new 3,000-capacity hospitality venue will reach a total standing capacity of entertainment and events venue at Westfield London, due to 3,000 in multiple rooms, formats and configurations as open at the end of 2019. The joint venture will convert the well as a number of adaptable relaxation areas and onsite historic Dimco Building into a new multi-function venue. food and drinks vendors. The Dimco Building is part of Westfield London’s £600m expansion, which opened last year as part of URW’s strategy of widening the offer to include not only fashion but food, entertainment, events and experiences. Michel Dessolain, COO Europe for Unibail- Rodamco-Westfield, said: “Unibail-Rodamco-Westfield creates unique and innovative destinations globally where our customers can shop, dine, be entertained and connect. Our partnership with Broadwick Venues, one of the biggest players in the events industry in the UK, and through the support of London Borough of Hammersmith & Fulham, will deliver an amazing new entertainment experience and will be a leading new events All rights reserved venue in London.” © JLD Media 2019 4 | MARCH 2019 www.retaildestination.co.uk NEWS destination | THE NEW HOME OF SCMC BOOK NOW | 3 - 4 APRIL 2019 | HILTON METROPOLE BIRMINGHAM CRICKET SIGNS UP FOR METQUARTER LENDLEASE SIGNS Queensberry has signed renowned independent designer boutique Cricket at the revamped Metquarter FOOD HALL AT in Liverpool. The multibrand store will trade from a 12,000- sq ft flagship unit that will span ELEPHANT PARK two levels fronting Whitechapel. The deal follows the opening of the new four-screen Everyman Elephant Park, Lendlease and Southwark Council’s at an important gateway to Elephant Park, facing onto Cinema, which marked the first £2.3bn regeneration project in London’s Elephant & Sayer Street – a new street for local and independent phase of Metquarter’s relaunch in Castle, has signed sustainable community food market businesses – as well as overlooking the Grade II listed December following an 18-month operator, Mercato Metropolitano, for 17,500 sq ft of Walworth Town Hall on Walworth Square, and will play long repositioning programme by retail, dining and social space to launch MM Factory, a major role in establishing this part of the Elephant Park Queensberry. The reconfiguration due to open in Summer 2019. masterplan as a new food hub for London. has created 38 units including As an anchor tenant, MM Factory will be situated The Mercato Metropolitano concept was founded in three retail anchor units, a Milan in 2015, and made its UK debut in Elephant & restaurant hub and a four-screen Castle in 2016. boutique cinema with 287 seats, Guy Thomas, head of retail at Lendlease, said: “The as well as a bar and dining area. new MM Factory from Mercato Metropolitano will bring a vibrant and varied offer to Elephant Park serving GO-AHEAD AT STRAITON Elephant & Castle’s diverse community. Lendlease is A 25,500-sq ft new retail terrace committed to creating the best places with longevity, at Straiton retail park has been sustainability and a strong sense of community, and given the green light by Midlothian like-minded Mercato Metropolitano is the perfect anchor council, with a planned £10m tenant to help us deliver on this promise.” investment by Peel Retail Parks, part Nash Bond and CF Commercial represented Lendlease. of Peel Land and Property. The new eye-catching, glass-fronted building will sit fronting Straiton Road and will house up to 11 new tenants featuring a line-up of top brands, CAPTAIN MORGAN LANDS with Greggs, Starbucks, Card Factory and Archers Sleep Centre already confirmed. Construction AT LANDSEC’S WEST 12 work is due to start in Summer 2019, with a 33-week build period. The central space at Landsec’s West 12 centre in destinations. It’s been fantastic to work with a team who BASINGSTOKE BOOST Shepherd’s Bush has been transformed into an indoor are willing to embrace the future of retail; we expect the AEW has expanded the range of lagoon, complete with a series of islands, as part of a trend for experiences such as this to continue to grow and dining choices at Festival Place partnership with rum brand Captain Morgan. we’re pleased to be able to work with Landsec to deliver an in Basingstoke.
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