Retail Property Analyst caught up with a number of key investors and developers at the annual Revo event, this year in Manchester.
Several schemes are coming close to completion and here is what the developers exclusively revealed to RPA about town centre regeneration.
Bracknell, Harry Pickering, Schroders “We learned a lot from Bracknell, where we worked with the local authority to completely change the offer in the town, including revitalising the retail offer, introducing new leisure and effectively giving the locals their town centre back. That has been completed and we are now working at the south end of the town to bring a convenience offer anchored by Sainsbury’s up to scratch.
Having completed this project, we would be keen to look at other town centre projects, where we can use our learnings from Bracknell. This is a project we have redeveloped and held. The main priority now is to re-educate the catchment, who previously had not been interested in shopping in the town and encouraging them to visit and experience the transformation.”
Grafton, LGIM, Tom Williams and Simon Russian “We have just completed a £28.5m refurbishment of Grafton shopping centre, Cambridge. It had been very dated and when we acquired it from M&G Real Estate in 2015, they had plans for it but hadn't executed them. We wanted to keep its position as a mass market fashion centre but bring in new retailers, such as Decathlon, The Entertainer and an upsized H&M, and group a much stronger F&B offer on the upper floor. This is a leisure hub that before Christmas will include a gym an there is also planning for a 146-bed Premier Inn.
Eastbourne is another refurbishment with a cinema and work is beginning on the Dolphin Centre in Poole, with a new cinema opening early next year, which will include a rooftop screen.”
LDO and Wembley Park, Matthew Slade, Quintain “We have divided the Wembley projects into zones, with the London Designer Outlet anchoring a commercial hub which also includes the refurbished Wembley Arena and which will include a new music venue. The link to the main Wembley high road will include smaller retail units and pop-ups.
The zone between this and Wembley Park underground station is The Village and apart from residential this and the other areas include ground floor retail and offers for the residents, with smaller stores serving everyday needs.
Finally, we have the park, which will become a major leisure hub, with a 30,000 sq ft gym and other leisure offers based around a large park, while on the periphery we are looking to embrace the industrial feel of the surrounds by bringing in a craft brewery.”
