Retail warehousing and shopping parks are proving very popular

 

 

The world’s largest retailer, WalMart is continuing to conquer the UK market with their Asda brand.  Asda’s fashion line George is proving extremely successful, having been previously stocked nationwide within their superstores they have now moved out onto the high street, with stores in various shopping hotspots and main high streets.  Not content with this, George stores opened their first retail park store at the end of last year in Pillar’s Manchester Fort, and have plans to open many more within fashion-based retail stores.

 

 

Despite Debenhams continuity in selecting town-centre schemes they too have opted to enter into the new retail park craze.  Debenhams, alongside Marks & Spencer, Next, and Boots have already committed to joining Fort Westwood Cross development in Thanet, which looks set to be a huge success in east Kent.

 

                             

 

A suggestion as to the growing popularity of retail parks is the large space available, with many floor plates reaching 10,000 square feet in size, providing room to showcase a large collection of designs.  Despite the size many feel that an intimate boutique feel is created within retail parks, which is not felt on the high street.

 

 

Patrick Heaps whom is responsible for the retail sector at Donaldsons, an independent property consultancy, recognises that retail warehousing has out performed all other property market sectors, suggesting that retail parks are the way forward.

 

 

If this is the case then why are Britain’s biggest property developers investing money into building 34 million square ft of new shopping centres?  This space is the equivalent of 22 Bluewater shopping centres.  The largest planned shopping centres are to be located in Paradise Street in Liverpool, Stratford City in London, and White City, London.

 

                      

 

This rapid rise in shopping developments will increase fears that some developers could struggle to fill all of the space, with problems such as high rates bills combined with reduction in consumer spending and an increase in online spending, making it increasingly hard to afford retail property.  However, Donaldsons are reassuring developers that it is only the weak chains that will be affected by such problems, whereas store such as House of Fraser, John Lewis and Debenhams are thriving at this time, and are making constant expansions.

 

Stephanie McLaughlin