Focus on food & beverage
Posted by Shopping Centre Magazine on 14th Apr 2016
Jonathan Doughty, head of EMEA Foodservice Consulting at Coverpoint, a JLL company, was joined by a panel of guests, including Vida Tayebi, founder of Persian restaurant dindin kitchen, Jenny McPhee, brand and business development manager at The Alchemist, and Mark Robinson, property director at Ellandi, at the BCSC Shopping Centre Management Conference at the Brighton Hilton Metropole.
Doughty explained: “Innovation and trends tend to run quite close together. One of the big trends is as customers you get bored so quickly. As customers you go somewhere, you try it, you buy it, you like it and you move on so it’s about keeping you excited and innovated and engaged with what’s going on and that doesn’t necessarily follow in a world where you have the same tenants there for long periods of time. I think it’s fine so long as you have a core of your business that is the same but you need to dress around it more and more.”
And shorter leases are going a long way to help ensure a regular turnaround of food and beverage brands if needed.
Mark Robinson, property director at Ellandi, said: “The average length of a lease is coming down to five years and shopping centres are embracing that as we like change. One of the challenges is the amount of investment that goes into changing a shop into a restaurant and certain brands pay for our fit out and that costs £750,000. So when they are putting that sort of investment into a unit, as a landlord, we want the long lease commitment but as a tenant they want a long lease commitment as well. However what is right now, is right now. Many food chains have come and boomed and gone but we still have a Wimpy in Grays.”-
Read the full article that appeared in the April edition of Shopping Centre Magazine by following the link below.