PROJECT: Basildon Town Centre Development MARKET RELOCATION – ISSUE 2, Version 6 Quarterbridge Project Management Ltd. 2 West Stockwell Street Colchester Essex CO1 1HQ T: 01206 761000 www.quarterbridge.co.uk Author: Raymond Linch [email protected] 1 Issue 2, Version 6 – October 2011 Copyright Quarterbridge 2011 | Subject to Contract Content Content .......................................................................................................................................................................................................................................... 2 Introduction ................................................................................................................................................................................................................................... 5 Executive Summary ....................................................................................................................................................................................................................... 5 Executive Summary Action Required ............................................................................................................................................................................................ 6 Background and Relevant Experience ........................................................................................................................................................................................... 7 Multi-Disciplinary Team ................................................................................................................................................................................................................ 8 “Making Markets Work” ............................................................................................................................................................................................................... 9 The Economy in 2010 and beyond... ........................................................................................................................................................................................... 10 Quarterbridge Market Letting Agency ........................................................................................................................................................................................ 11 Quarterbridge Track Record ........................................................................................................................................................................................................ 12 Demographic Overview ............................................................................................................................................................................................................... 16 Demographic Structure ............................................................................................................................................................................................................... 16 What does this mean? ................................................................................................................................................................................................................. 17 Social Categories and Deprivation ............................................................................................................................................................................................... 18 Issues Relating to Juvenile Population ........................................................................................................................................................................................ 20 Criminality ................................................................................................................................................................................................................................... 22 Transport ..................................................................................................................................................................................................................................... 23 Retailing Competition .................................................................................................................................................................................................................. 25 High Street Commercial Rent Prices ............................................................................................................................................................................................ 28 Distilled Retailing Report ............................................................................................................................................................................................................. 30 Basildon District Council, Strategic Improvement Plan 2008-2011 ............................................................................................................................................. 30 2 Basildon’s Sustainable Community Strategy 2008-2033 ............................................................................................................................................................. 31 Copyright Quarterbridge 2011 | Subject to Contract Other Reports and Commentaries .............................................................................................................................................................................................. 32 Opinion Poll on Local Amenities .................................................................................................................................................................................................. 33 Demographic Synopsis with relation to Basildon Market ........................................................................................................................................................... 33 History of Basildon Market .......................................................................................................................................................................................................... 34 Additional Market Activities in Basildon ..................................................................................................................................................................................... 35 Current Market Location ............................................................................................................................................................................................................. 36 Market Form and Content ........................................................................................................................................................................................................... 37 Market Success ............................................................................................................................................................................................................................ 39 Market Management and Structure ........................................................................................................................................................................................... 39 Market Relocation Requirements ............................................................................................................................................................................................... 40 Market Relocation Methodology ................................................................................................................................................................................................ 40 The Do Nothing Scenario ............................................................................................................................................................................................................. 41 Market Relocation ....................................................................................................................................................................................................................... 41 Town-Centre Footfall .................................................................................................................................................................................................................. 42 Town Centre Footfall – Schematic ............................................................................................................................................................................................... 43 Relocation Options ...................................................................................................................................................................................................................... 44 Option A. – St. Martin’s Square ................................................................................................................................................................................................... 44 Option A. – St. Martin’s Square – Advantages and Challenges ..................................................................................................................................................