A presentation of The Definitive Guide to Retail & Leisure Parks 2020 Liz Williamson General Manager Trevor Wood Associates Top 10 Retail Parks in the UK 2020 These Retail Parks are ranked the same as 2019 Rank Scheme Location Region 1 Middlebrook Retail & Leisure Park Bolton North West 2 Castlepoint Bournemouth South West 3 Clifton Moor Centre (Phases 1 - 4) York Yorkshire & Humberside 4 Fort Kinnaird Edinburgh Scotland 5 Parkgate Shopping Rotherham Yorkshire & Humberside 6 New Mersey Liverpool North West 7 The Brewery Romford South East 8 Glasgow Fort Glasgow Scotland 9 Rushden Lakes Shopping Park Rushden East Midlands 10 Giltbrook Nottingham East Midlands The Definitive Guide to Retail & Leisure Parks 2020 Top 5 Shopping Parks in the UK 2020 These Shopping Parks are ranked the same as 2019 Rank Scheme Location Region 1 Castlepoint Bournemouth South West 2 Fort Kinnaird Edinburgh Scotland 3 Parkgate Shopping Rotherham Yorkshire & Humberside 4 New Mersey Liverpool North West 5 Glasgow Fort Glasgow Scotland The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Retail Warehouse Clusters in the UK 2020 8 positional changes to the table compared to last year – Monks Cross the highest riser Rank Scheme Location Region 1 Westwood Road Broadstairs South East 2 Monks Cross York Yorkshire & Humberside 3 WestQuay Southampton South East 4 Newcraighall Edinburgh Scotland 5 Lakeside Grays South East 6 Cribbs Causeway Bristol South West 7 Braehead Renfrew Scotland 8 Tritton Road Lincoln East Midlands 9 Sealand Road Chester North West 10 Middlebrook Bolton North West The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Investment Managers for Retail Warehousing Aberdeen Standard Investments lead for the 3rd year while the top 10 remains unchanged 2019 Investment Manager 2018 2019 Rank: 1 4th M & G Real Estate 4th 2018 Rank: 1 5th CBRE Global Investors 5th 2019 Rank: 2 2018 Rank: 2 2019 Rank: 3 6th IKEA 6th 2018 Rank: 3 7th Nuveen Real Estate 7th 8th Aviva Investors 8th 9th Legal & General Investment Management 9th 10th LaSalle Investment Management 10th The Definitive Guide to Retail & Leisure Parks 2020 SC Top Investment Managers for RW Regional Leaders NW N NI Y&H MCAP Global Finance EM WA EA WM SE SW The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Direct Property Owners for Retail Warehousing British Land maintain 1st place while Orion European Real Estate Fund V appear for the first time 2019 Rank: 1 2019 Investment Manager 2018 2018 Rank: 1 4th Prudential Life Fund 6th 2019 Rank: 2 5th UK Retail Warehouse Fund 5th 2018 Rank: 2 2019 Rank: 3 6th B & Q Properties 7th 2018 Rank: 5 7th 8th Peel Holdings 8th Orion European Real Estate Fund V *** 9th EPISO 10th 10th Brookhouse Group 11th The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Investment Managers for Retail Parks Aberdeen Standard Investments lead for the 3rd year while there were 6 positional changes to the top 10 2019 Investment Manager 2018 2019 Rank: 1 5th 2018 Rank: 1 4th Nuveen Real Estate 5th Columbia Threadneedle Investments 4th 2019 Rank: 2 2018 Rank: 2 2019 Rank: 3 6th Tristan Capital Partners 9th 2018 Rank: 3 7th CBRE Global Investors 8th 8th Legal & General Investment Management 6th 9th LaSalle Investment Management 7th 10th Aviva Investors 10th The Definitive Guide to Retail & Leisure Parks 2020 SC Top Investment Managers for RP Regional Leaders NW N NI Y&H MCAP Global Finance EM WA EA WM SE SW The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Direct Property Owners for Retail Parks British Land maintain 1st place while Orion European Real Estate Fund V are a new entry 2019 Rank: 1 2019 Investment Manager 2018 2018 Rank: 1 4th Prudential Life Fund 5th 2019 Rank: 2 5th Orion European Real Estate Fund V *** 2018 Rank: 3 2019 Rank: 3 6th EPISO 7th 2018 Rank: 4 7th 6th Landsec 8th Peel Holdings 8th 9th BlackRock UK Property Fund 9th 10th Brookhouse Group 10th The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Managing Agents for Retail Warehousing The Top 6 remain unchanged while MAPP are the highest climbers Rank Rank Managing Agent Change 2019 2018 1st 1st Savills ▬ 2nd 2nd JLL ▬ 3rd 3rd Workman ▬ 4th 4th CBRE ▬ 5th 5th Broadgate Estates ▬ 6th 6th Fidum Property Management ▬ 7th 9th Mapp ▲ 8th 7th Lambert Smith Hampton ▼ 9th 10th Colliers International ▲ 10th 8th Cushman & Wakefield ▼ The Definitive Guide to Retail & Leisure Parks 2020 SC Top Managing Agents for RW Regional Leaders NW N NI Y&H EM WA EA WM SE SW The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Managing Agents for Retail Parks There are no new entries to the top 10 this year Rank Rank Managing Agent Change 2019 2018 1st 1st Savills ▬ 2nd 2nd JLL ▬ 3rd 3rd Workman ▬ 4th 4th CBRE ▬ 5th 5th Broadgate Estates ▬ 6th 6th Fidum Property Management ▬ 7th 8th Mapp ▲ 8th 7th Lambert Smith Hampton ▼ 9th 10th Colliers International ▲ 10th 9th Cushman & Wakefield ▼ The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Letting Agents for Retail Warehousing Savills are now the leading agent, surpassing Avison Young for the first time Rank Rank Managing Agent Change 2019 2018 1st 2nd Savills ▲ 2nd 1st Avison Young ▼ 3rd 4th Curson Sowerby Partners ▲ 4th 3rd Morgan Williams ▼ 5th 5th Harvey Spack Field ▬ 6th 6th CWM ▬ 7th 8th Edgerley Simpson Howe ▲ 8th 10th McMullen Real Estate ▲ 9th 9th Stockford Anderson ▬ 10th 7th Cushman & Wakefield ▼ The Definitive Guide to Retail & Leisure Parks 2020 SC Top Letting Agents for RW Regional Leaders NW N NI Y&H EM WA EA WM SE SW The Definitive Guide to Retail & Leisure Parks 2020 Top 10 Letting Agents for Retail Parks Savills are still the leading agent while McMullen Real Estate rise to 8th Rank Rank Managing Agent Change 2019 2018 1st 1st Savills ▬ 2nd 2nd Avison Young ▬ 3rd 3rd Curson Sowerby Partners ▬ 4th 4th Morgan Williams ▬ 5th 5th Harvey Spack Field ▬ 6th 6th Stockford Anderson ▬ 7th 7th CWM ▬ 8th 10th McMullen Real Estate ▲ 9th 8th Edgerley Simpson Howe ▼ 10th 9th Cushman & Wakefield ▼ The Definitive Guide to Retail & Leisure Parks 2020 Top 5 Decreasing Tenants DECREASE DECREASE NATIONAL UNITS million sq. ft. % RANK 1 0 -1.10 -100% *** 2 70 -0.60 -20% 13 3 0 -0.59 -100% *** 4 212 -0.17 -8% 16 5 245 -0.10 -3% 5 The Definitive Guide to Retail & Leisure Parks 2020 Top 5 Increasing Tenants INCREASE INCREASE NATIONAL UNITS million sq. ft. % RANK 1 239 0.47 9% 2 2 196 0.34 12% 6 3 74 0.21 8% 7 4 68 0.20 22% 23 5 37 0.13 61% 47 The Definitive Guide to Retail & Leisure Parks 2020 Top 20 Leading Retail Park Tenants B & Q continue to lead, Home Bargains and The Range move up the table and Dunelm return to the top 10 The Definitive Guide to Retail & Leisure Parks 2020 SC Top Retail Park Tenants Regional Leaders NW N NI Y&H EM WA EA WM SE SW The Definitive Guide to Retail & Leisure Parks 2020 Retail Warehousing Floorspace Historical Analysis Increase in floorspace fell while overall supply grew by 0.7% 220 Total Retail 200 Warehousing floorspace (including 180 Retail Parks) 160 Total Retail Park floorspace 140 120 Retail Warehouses not 100 on Retail Parks 80 Available Retail 60 Warehousing 40 20 "Second-hand" space available 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The Definitive Guide to Retail & Leisure Parks 2020 Vacancy rates by planning consent - % Overall vacancy rate is now 7.6% - the highest since Q2 2014 but the rise is slowing 10 9 All Retail 8 Warehousing 7 Open A1 schemes 6 5 Open Non Food 4 schemes 3 Bulky Goods or Restricted schemes 2 1 0 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 The Definitive Guide to Retail & Leisure Parks 2020 Top 5 Historical Peak Rents Top rents exclude A3 and leisure units as well as those units under 4,000 sq. ft. Fosse Shopping Park, Leicester £105.00 Brookfield Shopping Park, Cheshunt £75.00 Brent South Shopping Park, London £66.00 Birstall Shopping Park, Leeds £65.00 Colney Fields Shopping Park, St Albans £65.00 The Definitive Guide to Retail & Leisure Parks 2020 Pipeline 299 developments have been proposed in the last 10 years Schemes coming out of the ground 69 of these were refused planning or withdrawn 19 of these have converted 10 were re-developed for to Residential non-retail Northern Gateway - Colchester Weymouth Gateway Retail Park 110 schemes have been built out The Circus - Liverpool 9 schemes became standalone 38 opened with reduced GLA Grocery Stores 27 fewer than 2018 104 schemes are still proposed – 65 are thought likely to proceed before 2027 The Definitive Guide to Retail & Leisure Parks 2020 2020 Summary Aberdeen Standard Investment are the top Investment Manager There are some significant regional differences British Land are the top Direct Property owner The vacancy rate has increased to 7.6% Savills are still the leading Management Agent & now the leading Letting Agent The pipeline has decreased B & Q remain the top tenant Mothercare recorded the biggest decrease B & M recoded the biggest increase The Definitive Guide to Retail & Leisure Parks 2020 For more information please visit https://www.trevorwoodassociates.co.uk/ • Regional Highlights • Executive Summary download • Order form download .