Page 35 - RLI March 2019

RETAIL PARK PROFILE | PEEL RETAIL PARKS

GLOUCESTER QUAYS RETAIL PARK
Gloucester, UK

The growth of online retail is changing the way people shop,
plus the uncertainty of Brexit is creating caution among the STRAITON RETAIL PARK
investment market. It’s essential to stay ahead of the changes Edinburgh, UK
in order to survive and thrive,” explains Whittaker.
Peel L&P has always believed in the out-of-town retail
sector and continues to do so today. Despite all the
negative media news stories, its retail portfolio continues
POSITIVE RETAIL to prosper with sustained annual growth supported by
underlying occupancy levels at over 93 per cent nationally,
with several of its parks maintaining 100 per cent occupancy.
“Our in-house, experienced and dedicated retail team, con-
NEWS AT LAST sisting of Roger Wheeldon, Leah Taylor, Adam Jolley, Gareth Finch
and David Parry, are all engaged with the fast-changing dynamics
of the retail market and are constantly exploiting new ideas and
initiatives to further enhance the portfolio,” says Whittaker.
Peel Retail Parks own and manage many of the UK’s leading retail parks, creating Peel Retail Parks maintains a strong position despite the
raft of various retailers going into CVAs, and they are turning
stand-out shopping destinations where retailers want to be and customers want this perceived negative situation into a positive by deploying
to shop. Here, RLI speaks with Mark Whittaker, Property Director of Peel Land & funds into vacant stores to provide improved and modernised
places for customers and retailers.
At the same time, they are obtaining new retail planning
Property about the growth of the business in these challenging times. consents and working with the expanding and active retailers
in the out-of-town market such as Home Bargains, JD Sports,
B&M Bargains, Iceland, Aldi and Lidl.
s initiators of the retail park concept in the UK, want now and in the future, continually adapting to meet the “In addition, the team always looks to complement the
Peel Retail Parks’ strong heritage and unique needs of the next generation. retail park offering with food and beverage operators such
approach has enabled them to build a successful “High street and retail parks footfall dropped for the 13th as Starbucks, Greggs and Costa, providing a more varied
Aportfolio that continues to grow and flourish. consecutive month nationally, falling more than 2 per cent in shopping destination for the customers,” Whittaker explains.
The company brings together its wealth of expertise and December, according to the British Retail Consortium,” states Some of Peel Retail Park’s notable ongoing developments “This is exactly the kind of addition “It’s essentIal to stay ahead
understanding of its customers and local communities to Mark Whittaker, Property Director at Peel Land & Property include the construction of the new £5.5M, 45,000sq ft Next we have wanted to deliver at Trafford
continually evolve its retail parks and deliver real results for (Peel L&P). “Despite this, Peel Retail Parks, part of Peel L&P are store at Gloucester Quays Retail Park, which is due to open for some time and it will take the of the changes In order to
its world class retailers. proud to report a 24 per cent rise in overall footfall over the later this month. Another notable project is the construction retail park to the next level. It’s not survIve and thrIve”
In 2018, Peel Retail Parks reported strong visitor growth at last two years across its parks.” of a new retail terrace at Straiton Retail Park in Edinburgh. competing with intu Trafford Centre
its 10 out-of-town retail parks across the UK, which is in stark Peel Retail Parks, which currently owns and manages retail The £10M modern, contemporary glass-fronted terrace will but working with it to provide a more comprehensive retail
contrast to the backdrop of declining retail across the country. parks in Barnsley, Blackburn, Bristol, Corby, Edinburgh, Gloucester, house up to 11 smaller units ranging from 1,500 to 6,000sq ft, offering to the wider area,” explains Whittaker.
Peel prides itself on creating places where people want to Stockport, Sunderland, Trafford and Yeovil has had almost 24 million creating a total development extension of 25,500sq ft to the Through proactive asset management and development,
shop and spend quality time with family and friends, and they visits across the entire portfolio throughout the past 12 months. park. Meanwhile in Trafford, the team is forging ahead with the working closely with its retail partners and understanding
have been doing this successfully for more than 30 years. “We are all aware of the significant challenges facing first section of the phase two development of the Trafford the needs of its valued customers, Peel Retail Parks aims
Customer insight is the currency of the brand and they the retail sector in the current market but, from challenge, Retail Park, which will bring a new £5M Aldi food store and a to deliver sustainable returns and long term growth, whilst
move with the times, understanding what its customers opportunities arise which is why retail is constantly evolving. Starbucks Drive Thru by the first quarter of next year. creating thriving retail destinations.

WASHINGTON RETAIL PARK
Tyne & Wear, UK