Here’s something I’d love to get a take on from #highstreet #property colleagues, especially those working on acquisitions and new location requirements lists.
It’s a timing question.
Maybe one Ellen Peters and fellow Property Managers Association members can help with, bringing together as it does in-house property professionals for major #retail brands.
When you’re making a decision on whether to open up in a place are you taking into account demographics, footfall, spend data and the like from its past, from now or are you making a calculation looking ahead.
It’s a question sparked by having been in recent weeks and months in town and city centres that are what you might call “in transition”. Where maybe vacancy has been on the higher side but there’s a ‘place partnership’ on the case, those numbers are coming down or are about to, and there’s development, investment – aimed at bringing in new residential, office, health services, cultural uses etc – that will boost footfall and dwell time and so transform those key metrics you rely on.
So what’s your strategy…? Be an early adopter, take the opportunity when maybe rents are lower and the best units are available, or wait.
I know members of The Academy Network which brings together council and BID officers we’re working with on tackling vacancy would be interested to hear…
