Author Archive

Peter Leverett

YORKSHIRE RETAIL OUTLET SCHEME WINS PRE-LETS FOR 50% OF SPACE

February 27, 2020

THE DEVELOPER OF A NEW RETAIL OUTLET SCHEME IN YORKSHIRE HAS REVEALED PLANS FOR THE FIRST £90M PHASE AND SIGNED UP HALF THE AVAILABLE RETAIL SPACE AHEAD OF ITS OPENING NEXT YEAR

Plans to build the leading outlet shopping and leisure destination in the North of England, Scotch Corner Designer Village, have been unveiled.  £90 million is being invested in Phase One which will comprise 92 retail and dining units across 250,000 sq ft.  The first 23 brands to sign-up include BOSS, Calvin Klein, Tommy Hilfiger, Adidas, Levi’s, Mint Velvet, Joules, Gap and Skechers. Located at Junction 53 of the A1(M), the scheme will be one of the most accessible retail and leisure destinations in the UK. Passed by more than 28.9m vehicles each year and with a wide catchment of 3.8m residents within a 60-minute drive time, annual footfall is expected to be over 4.

Plans for a second phase are expected to be submitted in the next six months and may include more retail and leisure space, a garden centre and a hotel.

Simon Waterfield, developer and co-owner of Scotch Corner Richmond, told Property Week that outlet villages had largely avoided the woes of high street retail.

“In the last five years, outlets have performed at 10 times the sales growth of standard centres,” he said. “Outlet model leases are base rent related with a turnover top-up. Base rents are kept at a sensible level and with the footfall we will attract, retailers do well in turnover, so we do well in rent.”

Waterfield added: “With no other major outlets centres within a 60-minute drive, and local towns providing a lower-priced fashion offer, we feel confident we will add to the appeal and prosperity of the region.”

Enabling and infrastructure works are under way at the site.

SPACE – Retail Property Consultants has been appointed by Scotch Corner Designer Village as sole leasing agent for Scotch Corner Designer Village.

For more information please contact Peter Leverett, Susan Harrison or Ben Taylor

 

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SPRINGFIELDS SHOPPING OUTLET REPORTS CHRISTMAS HOLIDAY SALES RISE

January 10, 2020

Christmas trading results from Springfields Outlet in Lincolnshire once again demonstrate its resilience as the leading shopping and leisure destination in the East of England having achieved 15 years of consecutive turnover growth.

When comparing the Christmas school holidays, from 19th December 22019 to 5th January 2020 inclusive, with the same school holiday period in 2018 total revenue increased by +2% year-on-year.  Within this period, the most successful week achieved +12% YoY uplift in total revenue.  The destination also enjoyed its busiest Boxing Day sale launch ever with 40% of LFL retailers reporting double digit increases.

Across the calendar year of 219 the scheme delivered a total revenue of +2% YoY with footfall increasing by the same amount.  This follows a record-breaking Black Friday week in which the centre achieved its highest ever weekly take; with individual retailers trading up to +5% on a life-for like basis.  The positive results are in stark contrast to the most recent industry stats which show that footfall declined by -4% in the post-Christmas sales, according to Springboard.

The retail results were boosted by a regular and varied programme of seasonal consumer activities including Wonderland Walk, a free immersive light experience set in the onsite Festival Gardens, a Christmas Grotto, and an ongoing VIP Programme and app with exclusive offers and competitions.

Ian Sanderson, Director at SLR which developed and asset manages the scheme, said: “We’re proud to have achieved 15 years of consecutive turnover growth, especially within the existing retail climate.  Our integrated leisure offer has helped to really support our positioning as a destination.  This has been supported further by the array of family-friendly seasonal activities over the past six weeks and further technical developments of our Springfields VIP app.  All of which has helped us to stand-out as the destination of choice for the location catchment and provide a memorable Christmas experience that has been reflected in the strong footfall and trading stats.”

 

Owned by the Triton Property Fund and managed by UBS, Springfields is a 200,000 sq ft scheme with 25 acres of leisure attractions set within beautiful award-winning landscaped gardens.  According to research by Savills, schemes need to offer something more than price point alone, with browsing and leisure elements key drivers for the overall experience.  Indeed, some 33.6% of shoppers consider leisure facilities to be more important at outlet retail brands such as Crew Clothing, Joules, Gap, TM Lewin, Radley, The Cosmetics Company Store, Skechers and M&S, the line up is complemented by integrated leisure offer Adventure Land, which includes the UK’s largest JCB Young Drivers Zone, and line-up of cafes and casual dining restaurants.

The scheme has a series of exciting expansion plans over the next few years, which will further enhance the customer offer and experience, and attract a more affluent customer.  Planning allocation of space and change of use has been agreed for a 50,000 sq ft extension.  The £18m investment will finance up to 19 new retail and casual dining units.

Agents for Springfields Outlet are SPACE Retail Property Consultants and Knight Frank.

For more information contact Peter Leverett, Susan Harrison or Ben Taylor

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RECORD BREAKING BLACK FRIDAY AT SPRINGFIELDS OUTLET

December 4, 2019

Springfields Outlet has once again demonstrated its continued resilience, bucking trends when compared to full-price retail destinations, reporting positive trading and footfall stats for the Black Friday trading period. From Monday 25th November to Sunday 1st December 2019, footfall rose by +5% when compared with the same period last year. Additionally, the leading shopping and leisure destination in the East of England achieved total revenue growth of +6% year-on-year.

The same week was the busiest sales week on record for Springfields, beating last year’s record by +3%. Every category at the destination reported increased trading stats with fashion and beauty retailers such as Crew Clothing, Joules, Jack Wills, The Cosmetics Company Store, Next Outlet and The Body Shop performing especially well, with stores trading up to +51% on a like-for-like basis.

Springfields Outlet has achieved 14 years of consecutive revenue growth since opening in 2004, with an average occupancy rate of 98%.

Ian Sanderson, Director at SLR, which developed and asset manages the scheme, said: “The strong trading performance Springfields is experiencing is testament to the environment at the destination. Providing a family day-out experience with something that appeals to people of all ages, the integrated and complementary leisure and dining facilities create a real point of difference. Attracting visitors from a really broad catchment, with significant numbers travelling more than 90 minutes, it’s a real destination for the East Midlands and parts of East Anglia. This is evidenced by the trading and footfall stats which illustrate how positively Springfields is trading in comparison to the wider, full-price sector.”

To complement the integrated leisure offer, Springfields hosts a regular and varied series of events throughout the year. This Christmas, to support the retailers during a key trading period, Springfields is hosting Wonderland Walk, a free, festive immersive light experience set in the award-winning onsite Festival Gardens. Younger visitors can also meet Father Christmas in the Springfields Grotto where each child will receive a gift and a free Santa hat from independent retailer, Starlings Toy Outlet. The retailer, which opened at Springfields in August 2019, has been trading exceptionally well since launch and continues to far exceed expectations. The brand has introduced an experiential Lego corner, further boosting the leisure offer at the destination, which sits alongside its wider selection of top-brand children’s toys including a huge Lego offer, Playmobil, Hot Wheels, Barbie and Fisher Price.

The 200,000 sq ft scheme is home to 50 outlet stores such as Jack Wills, Joules, White Stuff, Fat Face, Crew Clothing, The Cosmetic Company Store, Gap, Next and Skechers. With 25-acres of leisure attractions set in beautiful landscaped award-winning gardens. The combination of facilities; retail, dining and leisure is a crucial aspect in creating the complete package which appeals to a variety of customer groups and emphasises the experiential nature of the destination.

Located in south Lincolnshire, the 45-acre retail and leisure scheme is on the junction of the A16 and A151, close to the junction with the A17 providing easy access to Peterborough, Stamford, Nottingham, Lincoln and Kings Lynn. The catchment includes East Anglia, Cambridgeshire and the East Midlands.

Further demonstrating the success of the scheme, it has been announced that £18 million will be invested into a new extension at the centre. The planning allocation of space and change of use has been agreed for the new phase. The proposed design will add an additional 50,000 sq ft of retail and casual dining space, and some 19 new units, attracting opportunity for further brands at the centre.

Owned by the Triton Property Fund, managed by UBS, the scheme has recently undergone a repositioning programme. This has helped to attract new retailers and new customers from within its wide principal catchment and is further increasing tourist numbers visiting.

Agents for Springfields Outlet are SPACE Retail Property Consultants and Knight Frank.

For more information contact Peter Leverett, Susan Harrison or Ben Taylor

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A WHITE CHRISTMAS IN SOUTHAMPTON

November 5, 2019

Following the successful pop up store at the mall last year, The White Company have now opened in Westquay Shopping Centre, Southampton.

The 6,500 sq ft flagship store at Unit SU20 West Quay opened last week in plenty of time for Christmas, selling ‘stylish and beautifully designed’ homeware and clothes.

Sarah King, the Director of property at The White Company said: “The White Company are delighted that we will be opening in time for Christmas in Westquay.  We have been looking at Southampton for quite some time and following our successful pop-up in Westquay last Christmas we knew this opportunity would be a perfect addition to our portfolio.  We are looking forward to seeing our store come to life and can’t wait to become part of the exciting shopping destination that is Westquay Southampton”.

SPACE – Retail Property Consultants are the retained agents for The White Company.

For more information please contact Peter Leverett

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WINDSOR YARDS WELCOMES THE WHITE COMPANY

October 8, 2019

The White Company has now opened for trading in Windsor Yards Shopping Centre.  The ‘affordable luxury’ lifestyle brand takes the former Dorothy Perkins unit at 18/19 Windsor Yards adjacent to Timberland and Vision Express.  This will be The White Company’s first store in Windsor.

Sarah King, The White Company Director of Property –  “We are delighted to be opening a store in Windsor, providing both new and existing customers with luxury products at competitive prices.”

“As a premier shopping and tourist destination catering to a wealth of domestic and international shoppers, Windsor was an obvious choice for a new standalone store for the White Company.”

SPACE – Retail Property Consultants acted for The White Company and continue to search for sites to expand their portfolio.

For more information please contact Peter Leverett

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NEW BRANDS BOOST FOR SPRINGFIELDS OUTLET

September 30, 2019

Further signings show the continuing success of Springfields Outlet, emphasising its position as the leading shopping and leisure destination in the East of England.

Iconic casual wear brand Crew Clothing and independent retailer Starlings Toys opened this summer, adding to the recent additions of Joules, White Stuff and The Cosmetic Company Store.

  • Crew Clothing completed a major 4-week shop fit with new large format windows; their first Outlet store in Lincolnshir

RENEWALS AND INVESTMENT HIGHLIGHT RETAILER CONFIDENCE

  • The dynamic asset management of the scheme has undertaken 15 deals this year including, 2 new lettings, 2 relocations and 11 lease renewals including Jack Wills, M&S Outlet and Raging Bull
  • Springfields is the chosen destination for retailers to make significant investment into their stores with new major fit outs planned for Clarks and Claire’s

TRADING GOING FROM STRENGTH TO STRENGTH

  • 14 years of consecutive and annual revenue growth
  • Year-to-date revenue up +4%

For more information please contact Peter Leverett or Susan Harrison.

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2 NEW OPENINGS FOR THE WHITE COMPANY

July 31, 2019

SPACE are pleased to announce The White Company are opening 2 new stores later this year, bringing the lifestyle brand to Windsor and Southampton.

The White Company have signed a new 10 year lease to take a 4,000 sqft trading store at Windsor Yards, Windsor.  The unit is due to open in October 2019.

The landlords, Aberdeen Standard were represented by Nick Warr of GCW

The Southampton store is to open at Westquay Shopping Centre, spanning c. 6,500 sqft, the shop will be open in time for Christmas.

Sarah King, Director of Property at The White Company, said “The White Company is delighted that we will be opening in time for Christmas in Westquay.  We have been looking at Southampton for quite some time and following our successful pop-up in Westquay last Christmas we knew this opportunity would be a perfect addition to our portfolio.”

The landlords, Hammerson were represented by Jerry White of CBRE.

The White Company were represented by their retained agents SPACE – Retail Property Consultants.

For further information please contact Peter Leverett.

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RECORD BREAKING CHRISTMAS RESULTS AT SPRINGFIELDS OUTLET

January 22, 2019

Springfields Outlet in Lincolnshire has reinforced its position as the leading shopping and leisure destination in the East of England

A Record Breaking Christmas

  • Total revenue increased +15% year on year
  • Footfall increased +9% year on year
  • 66% of retailers traded above last year by up to +63%
  • Weekly turnover increased by +20%
  • Highest ever weekly sales volume achieved

14 Years of Consecutive Turnover Growth Achieved

2018 was a transformational year at Sprinfields Outlet:

  • An increasingly aspirational tenant mix including Joules, Jack Wills, White Stuff and The Cosmetics Company Store
  • Opened a new £1.2m integrated leisure offer
  • Introduced a new Springfields VIP app
  • New branding across the scheme

Retailer Confidence in Springfields Outlet

  • GAP has signed to renew its lease at the centre
  • The store is undergoing a refurbishment to improve its fit-out, offering a contemporary bright and spacious shopping environment

Agents for Springfields Outlet are SPACE Retail Property Consultants and Knight Frank.

For more information contact Peter Leverett or Susan Harrison

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JACK WILLS TO OPEN FIRST OUTLET STORE AT SPRINGFIELDS OUTLET

November 15, 2018

Jack Wills is set to open its first outlet store in Lincolnshire at Springfields Outlet, the leading shopping and leisure destination in the East of England, the scheme’s fourth new signing in as many months.

The British-heritage inspired clothing retailer, known for its high-quality wardrobe classics is set to open a 1,500 sq ft unit at Springfields Outlet.  It will boost the fashion line-up at the centre, joining other top brands including Joules, White Stuff, GAP, Next and Fat Face.

Ian Sanderson, Director of SLR, said “The importance of an integrated, experiential f&b and leisure offer, alongside a strong retail provision is increasingly attracting customers from further afield and encouraging visitors to stay for longer, to the benefit of retailers.  The expectation of being able to shop at discount all year round has positioned the outlet sector as offering the best of both worlds: year-round discounts and the opportunity to try a product before making a purchase.  Consequently, the outlet sector is increasingly becoming a part of the retailer’s strategies, resulting in new, premium, signings at Springfields”.

Since launch, Springfields Outlet has an average occupancy rate above 98 per cent and has achieved 13 years of consecutive turnover growth since opening in 2004.  The scheme includes 54 outlet stores, nine restaurants, a 58,000 sq ft garden centre and a 43 bedroom hotel.

Agents for Springfields Outlet are SPACE Retail Property Consultants and Knight Frank.

For more information contact Peter Leverett or Susan Harrison

 

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THE BUSIEST JOULES OPENING ON RECORD

November 2, 2018

 

The Busiest Joules Opening On Record

Premium lifestyle brand Joules successfully launched its new store at Springfields Outlet on Thursday 18th October. The opening attracted their largest ever queue of customers for a new store opening, in excess of 250 people. The brand beat their turnover expectations with a truly impressive four-day total.

White Stuff and The Cosmetic Company Store Now Open

With the opening of Joules, Springfields has now welcomed three new high quality brands in as many months, positioning the scheme at the next level. The Cosmetic Company Store (part of the Estee Lauder companies) opened on 1st August. With their offering of award-winning, high-end premium skin care, make-up and fragrance from brands including MAC and Clinique which have attracted many first time visitors from the wider Springfields  catchment.

Premium British fashion and lifestyle brand White Stuff opened their first ever Outlet store in Lincolnshire on 6th September. The brand reported their highest ever turnover for a new store opening, tripling their forecast.

Further New Arrivals

November will see the opening of a well-known young fashion brand with more details to follow.

A Record Breaking Summer

Following 13 consecutive years of revenue growth since opening, Springfields Outlet has reinforced its position as the leading shopping and leisure destination in the East of England, with a significant rise in both footfall and revenue over the school summer holiday period.  With sales +10% YOY and footfall +9%, 65% of all LFL brands traded positively on LY.

The trading boost follows the opening of an innovative new £1.2m integrated leisure offer in June, branded Springfields Adventure Land, that includes the UK’s largest JCB Young Driver’s Zone, Gold Planning and huge Sky Net with 9 towers set in 25 acres of attractive, award-winning show gardens.


For more information please contact Peter Leverett or Susan Harrison

 

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SPRINGFIELDS – OUTLET SHOPPING & LEISURE

September 13, 2018

Following the appointment of SPACE as joint letting agents at Springfields Outlet the £1.2m leisure investment is open as are new occupiers Estee Lauder and White Stuff.

£1.2 million integrated leisure expansion redefines offer at Springfields Outlet

£1.2 million has been invested by The Triton Property Fund, managed by UBS, into the expansion of the innovative, market-leading leisure offer at Springfields Outlet in Lincolnshire – the leading outlet shopping and leisure destination in the East of England. Opened in late June, it is home to the UK’s largest JCB Young Drivers Zone, it is designed to increase footfall by appealing to a broader, more affluent customer base looking for a memorable day-out.

The Cosmetic Company Store signed

As part of the introduction of further premium brands, The Cosmetic Company Store (part of the Estee Lauder Companies) will be opening a 1,860 sq unit at Springfields Outlet this summer.  It will offer its award-winning, high end premium skincare, make-up and fragrance from a number of prestigious brands including Clinique and MAC, at up to 50% off RRP.

13 years consecutive growth

Springfields Outlet has proven it is the leading shopping and leisure destination in the East of England with its track record of 13 years of consecutive turnover growth.  The 200,000 sq ft scheme with 25 acres of leisure attractions is set in beautiful, award winning, landscaped gardens.  Home to 54 outlet stores, nine restaurants, a 58,000 sq ft garden centre and 43 bedroom hotel, it has annual footfall of over 2.3 million.

For more information contact Peter Leverett or Susan Harrison

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Mint Velvet Open In Market Harborough

September 7, 2018

Acting on behalf of Merlin Properties Limited, SPACE have successfully secured possession of 48 High Street, Market Harborough to facilitate an extension to the ground floor retail trading area. The enlarged ground floor retail area now extends to over 2,000 sqft providing well configured and attractive retail space.

Peter Leverett of SPACE commented “Market Harborough continues to thrive as a strong market town with a healthy mix of best in class independent retailers as well as a raft of well known high street multiple brands offering a broad choice of shopping for the local catchment, tourists and visitors”.

For more information contact Peter Leverett

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The White Company now open in Tunsgate Quarter Guildford

March 19, 2018

 

Delighted to see that clients The White Company are now open in their brand new shop in Guildford in the Tunsgate Quarter!

The White Company have doubled the size of their shop for this relocation into the new Queensberry Real Estate scheme in Guildford city centre. 

Sarah King, Director of Property & Estates at The White Company, said: “We have been trading successfully in Guildford for many years and have a loyal following of customers, but have been looking to increase the size of our store for some time.  Tunsgate Quarter will allow us to showcase a much broader product range befitting our brand.”

For more information please contact Peter Leverett or Naomi Ellwood

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The White Company acquire flagship store in Dublin

March 12, 2018

SPACE are delighted to have advised our retained client The White Company for their country flagship debut in Dublin at 72 Grafton Street with the acquisition completing in just three months.

Iput pension fund have spent about €2 million on reconfiguring the block and enlarging its shopping facilities. One of the benefits of the work has been to highlight a stunning curved vaulted ceiling at first floor level to create a stand out shop for The White Company.

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