Page 51 - RLI September 2019

evo, the UK’s largest gathering of people and the result of ‘right-sizing’ or retailer insolvency, will continue to
businesses that together create, deliver, operate be a feature of the retail market for the foreseeable future. In
and occupy great places to live, work, shop, eat order to achieve this, it is likely that some centres and retail
R and be entertained will take place on the 17-19 parks will need to be completely redeveloped.
September at the Exhibition Centre in Liverpool, bringing Launched in October last year, ICON Outlet in London
together over 2,200 delegates from all parts of the diverse is a 210,000sq ft designer outlet shopping scheme that was
retail property and placemaking community. developed by joint venture partners AEG and Crosstree Real
According to Cushman & Wakefield’s ‘European Shopping Estate Partners. The ICON Outlet complements the existing
Centre Development Report’, the UK was the third most entertainment-orientated offer The O2 has become world
active development market in Western Europe in 2018, with famous for, including the 20,000 seat arena, 26 restaurants
147,000sq m of new space delivered, of which 74 per cent was and bars, an 11-screen cinema, theatre, roof walk and much
contained in two extension projects. This represented an eight more. ICON Outlet brings together over 60 of the best
per cent growth compared with the previous year. Leisure fashion and lifestyle brands, at up to 70 per cent off retail
extensions, mixed-use developments and the redevelopment prices, under The O2’s world-famous roof.
of vacant city centre sites were a key focus, with extensions Construction is almost complete on the new Kingsmere Retail
representing 95 per cent of all new space in 2018. Park on Oxford Road, Bicester and it is due to be completed
There is likely to be significantly less retail space going in October. There has been a total capital investment of £40M,
forward, but that which remains will have a clear purpose. making it one of the most expensive retail schemes in the UK.
Moreover, it is key to note that around 80 per cent of all Well-known brands like M&S Simply Food and Next have
retail sales still occur in physical stores. Success in the future already signed up with their flagship stores, meaning that local
will therefore be based on a balanced approach to physical residents will soon be able to enjoy some of the leading brands.
footprint, digital alignment and logistics execution. Once complete, this new retail park will build on the success of
Traditional retail will continue to play a vital role in the Bicester as an attractive retail, residential, and commercial centre.
distribution chain, although it will likely form a smaller On course to open all remaining phases, Heart of the City II HEART OF THE CITY II
component of the overall tenant mix on high streets and in is one of Sheffield’s key economic projects. Backed by Sheffield Sheffield, England
shopping centres and retail parks. We should acknowledge that City Council, with Queensberry as its key delivery partner,
the UK has too much front-end retail space – probably in the it is not just a retail scheme, but a mixed-use, vibrant quarter
region of 25-30 per cent – and that store closures, whether right at the heart of the city and synonymous with everything the city is trying to achieve. The scheme builds on the hugely developer of the project is Tellon Capital and the exciting
successful original Heart of the City project that kick started the new scheme is expected to open in 2020.
regeneration of Sheffield city centre at the start of the Millennium. Also opening in 2020 is Scotch Corner Designer Village by
The new mixed-use scheme will comprise of high-quality retail, developers Scotch Corner Richmond LLP. The new scheme is set
ICON OUTLET AT O2 Grade A offices, hotel and residential developments, restaurants to be the fifth largest outlet centre in the UK and the leading outlet
London, England
and cafés, leisure destinations, parking and stunning public realm. shopping and leisure destination in the North of England, bringing
Due to completely open in 2020, the ongoing Wembley Park an appealing mix of premium and best-of high street brands to one
development in London by developer Quintain continues to of the UK’s most well-known locations. Scotch Corner Designer
open in stages as it prepares to become one of Europe’s biggest Village will include 92 new shops including 10 restaurants and cafés
regeneration projects. Cushman & Wakefield and Nash Bond and will benefit from 1,300 car parking spaces.
have been instructed to lead a new phase of retail and leisure The solution for unlocking Warrington is beginning to take shape
leasing at Wembley Park. A further 180,000sq ft of space over 42 as Time Square: the £110M mixed-use development driven by
units is being allocated in nine new buildings across the landmark Warrington & Co, on behalf Warrington Borough Council and
north-west London scheme. The additional retail and leisure development manager Muse Developments. Due for completion
space will help cement Wembley Park’s fast-growing status as an in the first quarter of 2020, the scheme will serve as a new beating
exciting new destination to rival the very best areas of London. heart of retail and leisure - sensitively developing Warrington into a
Bargate Quarter will uncover Southampton’s proud destination in its own right, rather than a satellite to Liverpool and
history, 900 years after the legendary monument was built. Manchester. Attracting locals and regional visitors alike, the scheme
The 400,000sq ft project will redefine retail in the heart of is set to significantly drive footfall in the town centre with first-rate
Southampton. The scheme will offer a variety of carefully dining, a 13-screen Cineworld complex, Grade A offices, a social
selected retail, food and beverage choices and its stunning public square and ample car-parking. Time Square also incorporates
centrepiece is one of the finest sections of the city’s historic the town’s historical elements, with older façades respectfully
wall. Creating a vibrant, aspirational hub that celebrates repurposed to house a contemporary, European-style market and
an iconic heritage, while drawing a discerning crowd. The food hall offering - expected to drive 25,000 visitors per week alone.

SCOTCH CORNER DESIGNER OUTLET BARGATE qUARTER
North Yorkshire, England Southampton, England

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