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Retail

Credit: Festival Place

MINISO OPENS IN FESTIVAL PLACE, ENGLAND

MINISO, the lifestyle product retailer offering high-quality household goods, cosmetics, food, and toys has signed a 10-year lease on 270 sq m at Basingstoke’s Festival Place. The new store, which opened on Saturday the 10th of December, is the thirteenth to open in the UK, the second in South East England and the first in Hampshire.

Credit: Festival Place

MAKING A POSITIVE CONTRIBUTION TO THE COMMUNITY AND REMAINING CONNECTED TO THE EVER-CHANGING NEEDS OF CUSTOMERS AND LOCAL RESIDENTS IN TIMES OF CHANGE

As a center launched 20 years ago, Festival Place was originally designed for an era in which ‘big box’ retailers dominated. The demise of high street brands such as Debenhams and Topshop changed the landscape for retail landlords, while the breakneck pace of the e-commerce revolution and the subsequent impact of the Covid-19 pandemic have changed consumer behaviour irrevocably. The team behind Festival Place have responded with a renewed emphasis on the leisure offer, closer engagement with the local community and delivering a range of events and services that all serve to keep the center relevant and to drive continued footfall.

credit: Marc Peter

THE GREAT COMEBACK OF PHYSICAL RETAIL REAL ESTATE

A crisis forces us to think in new and different ways. It is a challenge – but finally, almost always, it leads up to new ideas and helps to speed up the much-needed change, states Caroline von Westerholt, Head of Strategy & Repositioning of Retail Properties at Twenty One Media GmbH. She explains her biggest learnings from the current crisis.

Credit: Merry Hill

OVER 16,258 SQ M OF NEW DEALS AT MERRY HILL IN 2022 CAPPED OFF BY LIDS REGIONAL DEBUT

Sovereign Centros has announced the opening of Lids, a leading global retailer specialising in licensed sports and fashion-oriented headwear and apparel, at retail and leisure destination Merry Hill. The regional debut caps off a successful period, with more than 16,258 sq m of new deals secured in the calendar year at the destination.

SES EUROPARK christmas shopping credit: wildbild

CONSUMER DATA: RETAILERS ARE STILL MERRY THIS SEASON

European retail sales have declined in the month of October as consumers struggle with the increased cost of living. However, the real effect will become the new reality in 2023. During Christmas season, shopping places such as the shopping centers managed by the Austrian SES have performed very good. One reason is the focus on a positive customer experience.

Credit: GRR Group

LOCAL SUPPLIERS AS KEY TO SUSTAINABLE URBAN DEVELOPMENT: GRR REPORT SHOWS GROWING IMPORTANCE OF MIXED-USE PROPERTIES

Due to the increasing scarcity of the land and housing market, integrated locations for local supply real estate are increasingly becoming the focus of urban development. When modernizing or building new supermarkets or discount stores, there is a growing demand for “mixed-use properties”, in which local suppliers are combined with commerce, offices and apartments.

Credit: Tessuti

TESSUTI MARKS ITS IRELAND DEBUT AT VICTORIA SQUARE

Victoria Square, the leading retail and leisure destination in Northern Ireland, is celebrating the official launch of fashion retailer Tessuti, marking its first flagship store in Ireland.

credit: BALFIN Group

Tirana East Gate: BALFIN Group meets the highest standards for a corporate loan from IFC

BALFIN Group is receiving a corporate loan from the International Finance Corporation, following a positive evaluation of its operations and standards according to well-established criteria. This amount will be used to refinance the expansion of Tirana East Gate, so that it ultimately creates more jobs, boosts local production, and promotes competitiveness in the retail market.

Credit: AVER

BOSSING IT: LIVERPOOL ONE SECURES BOSS RELOCATION AND UPSIZE

Grosvenor has announced that German premium fashion brand, BOSS, will be relocating and upsizing their store at Liverpool ONE. Taking a new, prominent space on Paradise Street, the 1,254 sq m flagship BOSS store marks a 130% upsize in total trading area and is a strong vote of confidence in the destination from a leading international brand.

Credit: Grantham Designer Outlet Village

GRANTHAM DESIGNER OUTLET VILLAGE 30% LET AHEAD OF START ON SITE EARLY 2023

Rioja Estates has announced that 30 percent of the space being brought forward by the forthcoming Grantham Designer Outlet Village is now committed with 22 percent in legals. This places the East Midlands outlet center in a position ahead of the planned start on-site in the first quarter of 2023.

Left: Giles Membrey, Managing Director Rioja Estates. Right: At Malmö Designer Village, Rioja Estates will be investing around 5.5 million euros in landscaping. | Credit: Rioja Estates

WHAT IS THE PRICE OF SUSTAINABILITY?

Brands have long understood the importance of presenting their sustainability credentials to consumers. Along with other policies, such as those relating to bullying in the workplace and mental health, sustainability plays an important part in a brand’s identity, and rightly so.

credit: Chainels

Chainels expands into travel hub sector

Chainels, the tenant experience platform, has launched in two travel hubs across Europe, leveraging its retail expertise to expand into a new sector. Utrecht train station, run by NS Stations Retailbedrijf a subsidiary of the Dutch national rail company Nederlandse Spoorwegen (NS), and Vienna International Airport will both use Chainels’ digital platform to improve communication with retailers and service providers.

MALL OF THE FUTURE

Meeting customer expectations for omnichannel experiences is key to the success of the mall of the future, argues Peter Tonstad in his PropTech column. His company, Placewise, is heavily investing in products in order to address the longer-term expectation that shopping centers will become true omnichannel offerings.

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