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PCG News Wrap Up 8th February 2019

Friday 8 February 2019 Data Insight & AnalyticsProperty DevelopmentRetail Consultancy

Laura Symes's picture
By Laura Symes

Here’s what the Property Consulting Group have been talking about this week

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Welcome to CACI’s Property Consulting Group’s News Wrap Up Blog. Keeping up to date with the latest news and emerging trends in the retail and leisure sector is key to supporting the project work we do with our clients. This means our team are constantly searching for relevant news stories, so we thought we’d share some of the best ones we have been talking about recently with you.

 

1. The £300 million project that will transform retail space in and around Oxford Street

Six buildings on Oxford, Berwick and Wardour Streets will be demolished and redeveloped ahead of the new Crossrail development that plans to boost the appeal of the east end of Oxford Street.

Read more

44% of visitors to Oxford Street also visit Regent’s Street on the same given trip

CACI Research

2. Savills have bought two designer outlets, Troyes and Roubaix in France, from McArthurGlen for €300 million

McArthurGlen will continue to be the operational managers of the two assets, while Savills are hoping to offer more opportunities to generate an attractive distribution and internal rate of return with the growing importance of customer experience.

Read more

 

3. Spotlight on: Ikea

Ikea are piloting subscription rental plans in Switzerland, promising 100% electric deliveries in Shanghai and have opened their new store in Greenwich, that encourages shoppers to take public transport to the new branch.

Ikea will work with partners to lease furniture and kitchens that you can hand back once the leasing period is over, with the aim to encourage customers to refurbish items rather than dispose of them.

Are Ikea on track towards achieving its goal of a de-carbonised delivery fleet by 2025?

Including the impressive roof terrace for views of Canary Wharf, solar roof panels, a ‘Learning Lab’, and in-store demos; take a look at Ikea’s new store in Greenwich.

Read more about Ikeas' rental scheme

Read more about Ikea's delivery fleet in Shanghai

 

4. The neo-futuristic buildings of 1-2, Broadgate, have been given the green light for demolition to make way for a 14-storey tiered leisure, retail and office complex

The rebuild will see retail and leisure spread across four floors, and approximately 570,000 sq ft of mixed-use space with the total value estimated at around £300 million.

Read more

 


Image source: Construction Enquirer

 

5. The fast-fashion brand Missguided is due to close its store in Westfield Stratford after announcing revenue growth although widened losses for the year to April 1st, 2018

Whilst the debut store in east London is intended for closure, the Bluewater branch will stay open along with a new store that is now open in The Dubai Mall in the Middle East.

Read more

 

6. Straiton Retail Park, Edinburgh, is granted planning approval for a £10 million extension, housing up to 11 new tenants

The new high-spec development will feature an impressive glass front and will intend to enhance the shopping experience of those who visit.

Read more

 

7. Planners of the Bishopsgate Goodsyard scheme in East London are concerned the development will hold significantly less residential units than required

An extra 200 homes, 79% of which will be “affordable”, with shops will replace the proposed commercial buildings, meaning that the planned park will also be bigger.

Read more

We discuss what is and isn't affordable in our blog: House Pricing and Income Data - How Much Can Builders Afford To Charge?

 

8. The year for independent retailers?

For many consumers, the overall shopping experience of major global brands has become bland, will quality independent retailers invigorate and stimulate a thriving market in 2019?

Read more

Asset management has become ‘space curation’ – a mark of a more nurtured and personalised consumer space.

Property Week

9. You could soon collect your Amazon parcel from your local bus stop…

The multinational technology company, who are always searching for new and innovative delivery methods, have won the patent for “mobile delivery locations”.

Read more

 

10. Chris Pratt and Tiffany Haddish serve lucky customers at the two-day pop-up Lego café in South Bank, London

The pop-up café was built to promote awareness for Unicef UK and available to customers on the 1st and 2nd of February.

Read more

 

11. Despite the wider struggling retail industry, investor demand for grocery properties remains strong

Last year, £1.06 billion worth of supermarket assets were traded internationally, with the highest demand coming from UK institutions.

Read more

 

PCG Loves: Olympia Transformation

Olympia London is set to undergo a £1bn transformation which will celebrate “all that is good and great about Britain”. The work will see the creation of two theatres, two hotels, a four-screen cinema 670,000 sq ft of offices, a jazz cafe and other restaurants, a roof-top park, and a logistics centre for deliveries.

Read more

With a highly affluent residential profile, Olympia London has high proportions of the UK’s wealthiest shoppers within only 1 mile

CACI Research

Get in touch if you would like to find out more, arrange a meeting or discuss any of this in more detail.

If you would like to receive this blog straight to your inbox every fortnight, sign up here.

Our team are constantly searching for relevant news stories, so we thought we’d share some of the best ones we have been talking about recently with you.

PCG News Wrap Up 8th February 2019