Landlords and Occupiers Get to Grips with an Evolving Retail Landscape
Posted by Estates Gazette on 8th Sep 2017
Finding your place in the new retail reality
Let's be fair. To be involved in retail property is a bit of a tough gig at the moment. I am sure many of the older delegates at this September's Revo Conference in Liverpool might be wistful for those halcyon days ago.
If you can’t recall, let me recap…
Every town was a “clone town”, landlords fought with tenants over every last penny of something called “zone A”, local authorities tapped developers for millions of pounds in section 106 “agreements” and town centres were effectively deserts after 5.30pm as booming retail had forced out all other uses.
One tangible and positive outcome of what can seem like the adverse head winds we have faced for a decade is the sense that we are no wall in it together.
I am confident that Ellandi is now not the only landlord that sees retailers as customers or even partners.
However, more recently there appears to be a generational shift in viewing retail as a key, rather than sole, driver in what all the cool kids are calling “placemaking”. Local authorities are often leading this, many facilitating or even instigating investment.
It was reflection of these structural changes that led the BCSC to completely re-imagine itself and its role in our industry as a part of its rebrand to Revo.
Liverpool this year will reflect this, an environment not only for landlords and tenants to do deals, but also meet stakeholders from the wider place-making world and learn about the tectonic changes shaping our industry.
Ellandi certainly believes that town centres in the UK have a bright and vibrant future, which will be driven by even better working relationships between landlords, tenants and public bodies – something that Revo will be at the forefront of facilitating year-round.