Archive for the ‘BCSC’ Category

Two deals for day two and taking off at Gatwick

Tuesday, September 20th, 2011

Gould, Victoria Posted by: Victoria Gould
Director, Retail Agency UK

I start the main day at BCSC with a hearty breakfast, a bucket of coffee and the exciting news that we are on the verge of another two great brands for Standard Life Investments and Shearer Property Group’s Parkway Newbury – the third and final shopping centre to open in 2011.

So far so good – Parkway is bucking the shopping centre leasing market trend because it is the right size and scale for a market town and provides the appropriate blended tenant mix to meet the demands of the affluent demographic profile of West Berkshire. The future development pipeline is looking bleak – funding constraints, rapidly fluctuating capital values and an uncertain occupier market mean that only a handful of schemes on the horizon in 2000 will actually come to fruition. 2012 is looking very desolate, with the Land Securities development, Leeds Trinity being the bright spot of 2013.

We are looking at creative routes to providing new market channels and I am buzzing with news of our latest instruction – we are strategic and leasing advisors to the new owners of Gatwick Airport. I could bore you senseless with the facts and figures in terms of footfall, dwell time, number of passengers through security etc, but what retailers want to know (if they are not used to airport retailing) is what densities can they achieve and what is the best trading format to achieve and exceed these densities. Retailers that already trade from airports make out that it is a very complicated process and only specialist operators can actually make it work – this is a fallacy – they are just trying to keep one of retail ‘s best kept secrets -  [ it is not hard and  ] there is a huge captive audience with money to spend on products  and  services that they probably wouldn’t normally buy  or  use. Airports are the shopping centres of the future and we can’t wait to get started!

BCSC 2011 – have you packed your umbrellas?

Monday, September 19th, 2011

Guy Grainger Jones Lang LaSallePosted by: Guy Grainger
Head of UK Retail

Leaving a sunny London this morning, I was prompted to remember an umbrella lest we forget the guaranteed rain we always experience in Manchester for BCSC. The dates changed but the weather hasn’t! Couldn’t find any JLL Brollies in Warwick Street so I’ll be making a dash for it.

First chance for our new enlarged team to impress. Our client dinner on Tuesday is over subscribed so it should be lively. We are hosting a Retail 2020 debate tomorrow with Jeremy Collins and Andrew Jones as our guest speakers. Expecting the latter to be very vocal about over hyped book values and we may even get controversial by giving a house view on how much of the existing retail stock we believe is obsolescent.

Time to face up to some of the challenges ahead so we can help bring about some regeneration!

Will keep you posted

Not More Retail, but Better Retail

Wednesday, November 10th, 2010

Posted by: James Brown
Head of EMEA Retail Research
Jones Lang LaSalle EMEA Research

Last week started with the BCSC Annual Conference and Exhibition in Manchester.  There was an air of optimism surrounding the event, and if anything, whilst not unaware of the risks, there was increased confidence that the economic recovery appears to have some traction and that the risk of a double dip is receding.

Signs of some development schemes were re-emerging (albeit reworked), and retail leasing deals looked to be back underway, amidst a general feeling that we are getting back to business. There was plenty of discussion around online retailing; the increasing need for lease simplification; the need for local government and local business to work more effectively together; and the acknowledgement that we are at the beginning of a period which will see significant change in the consumer and retail landscape. The debate, then, is live and underway. The industry is well aware of the challenges, but between now and BCSC 2011 a response will need to follow.

The week finished with the ICSC (International Council of Shopping Centres) Annual European Research Seminar in Amsterdam. Again, there was no denying that we are about to face a period of significant change. That the combined socio-economic and technological drivers will have inevitable influence on the physical retail environment was accepted. As at BCSC, the underlying message was that a response from retail and retail property owners to these changes will be needed. Online will not replace the human need to interact,  and physical environments will still play a dominant role in the retail landscape but follow a ‘convenience’ or ‘destination’ strategy. Online will increase competition and in this heightened competitive environment, retail venues must continually adapt in order to provide the right mix of transactional retail and consumer experience.

Whilst the last ten years may have been about wanting ‘ more’ the next will be about wanting ‘better’.