Focus on Retail Occupiers

Working with retailers to increase footfall and spend

As we all know, retailing is a dynamic business. There are always retailers looking to 'right' size, either up-sizing or down-sizing, depending on where they are in their current business model. Recognising this, the retail property market continues to try and meet these changing demands to give retailers the most effective trading platform possible.

It is not just space that creates successful retailing locations. This is also true in the retail park market which is still evolving as a retailing concept. We have seen the creation of the shopping park which has attracted a growing number of high street retailers to edge-of-town or out-of-town locations. Appropriate lighting, high quality landscaping, and clean and safe car parking are all important ingredients for out-of-town shopping. Customers will increasingly expect more services and amenities in these locations though.

As the focus of our portfolio shifts to out of town, we are reviewing the level of services that we should provide to shoppers. In doing so we are considering the development of toilet facilities, new restaurants and cafes, cash points and children's play areas, as well as on site management at each location. We do not believe, however, that this solution is a panacea for our entire retail portfolio. Services and amenities will be considered at each location, so that we can be sure that they are appropriate. More amenities, together with a changing retailer mix at each location will allow us to compete more effectively with town centres, attracting more shoppers, increasing dwell times and hopefully resulting in greater shopper spend.

The challenge for us going forward is to continue to deliver this service in a cost effective manner. In a competitive business environment it is clear that service charge value for money is a big issue for all retailers. We are committed to working with you and using opportunities for economies of scale across our portfolio to deliver value to you.

We have worked hard over recent years to develop closer relationships with you and to understand your business needs better. The feedback in our latest retailer survey indicates that we have made progress, although we can see that there is still more to be done, particularly in building awareness of retailers’ property management concerns.

We hope that you find this online report interesting and welcome your feedback on what we plan to do to improve customer service further.