OUR VIEW ON HIGH STREET RETAIL

AUTUMN 2017

HIGH STREET RETAIL MARKET OVERVIEW

High street’s become the destination of choice for dining out

Recent research by Springboard, the retail footfall specialist, has indicated that high streets are winning out in the battle for leisure spend, with increased consumer activity being registered in town centre location during the evening.

The research has suggested that the high street is experiencing a renaissance on the back of consumers choosing to dine out and drink at bars and enjoy the wide range of leisure activities on offer.

Strong trading at Aquila’s Bond Street scheme boosts footfall in Chelmsford

Bond Street shopping centre opened in the q4 2016 and the first nine months of trading has been extremely strong.

The scheme, which is now approaching full occupancy, has boosted footfall by almost 5% in the city centre, also benefiting the nearby High Chelmer shopping centre.

The new centre is being seen as an alternative to Bluewater and Lakeside for certain types of shopping.

Buttermarket Centre Ipswich purchased for £54.7m

The recent repositioning of the offer at the Buttermarket in Ipswich by Capital & Regional has been seen as a success, with National Grid UK Pension Fund paying £54.7m for the centre.

The pension fund purchased the Buttermarket just ahead of the opening of the new 12 screen empire cinema, which has seen the centre transformed from an ailing retail location into a mixed retail and leisure complex.

Junkyard Golf Club signs at ‘Westgate Social’ Oxford

A number of new signings at the Westgate shopping centre has seen the headline commitment from Junkyard Golf Club at the centre’s new leisure section ‘Westgate Social’ on the ground floor of the scheme.

Junkyard Golf Club will be the anchor tenant at the leisure area, offering three mini crazy golf courses and a cocktail bar.

The opening of the Westgate unit signifies the third opening for the ‘new’ leisure concept, with outlets already operating in London and Manchester.

 

THE FACTS

Prime headline zone A’s fall by 5.2% on average across the Bidwells region

Take up in the Bidwells markets falls to lowest level in three years

9.1%

Downturn in prime zone A rents in Ipswich

 

 

 

 

  

Supply is focused in secondary units, accounting for 88% of available units 

UK vacancy rate on the high street edges up to 12.2% in h1 2017

11.0%

Average availability rate across Bidwells locations

 

 

 

 


 

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