Sheffield shopping scheme Meadowhall has fallen to fifth most attractive shopping centre in the UK in the face of tough retail conditions and rival schemes, new research reveals.
Trevor Wood Associates has published the latest edition of its regular report Going Shopping – The Definitive Guide to Shopping Centres. This report ranks Britain’s top 500 shopping centres on their overall attractiveness to customers, based on factors including their size, tenants, weekly footfall and other facilities.
Meadowhall, which is now owned by British Land and the Norwegian government pension fund, has been named the UK’s 5th most attractive shopping centre, having slipped from 4th in 2011. This is partly due to the opening of Westfield’s new Stratford City shopping centre in east London, but overall attractiveness of Meadowhall has also dipped in the face of tough retail conditions.
Other shopping centres in the Yorkshire and Humberside region in the report include the White Rose Shopping Centre in Leeds, which slipped two places to 35th; the Frenchgate Shopping Centre in Doncaster, which fell six places to 37th; and Grimsby’s Freshney Place, which slipped four places to 51st.
Across the whole of the UK, the research shows how the recession is having a big impact on the mix of tenants in major shopping centres.
High street chemist Boots is now rated as the leading tenant in UK shopping centres, climbing from third place in the table, and replacing ailing chain Clinton Cards, which dropped from top to 17th position. Struggling computer game retailer Game has also dropped out of the top ten, while new entrants to the top ten include Costa Coffee, Card Factory and Phones 4 U.
Trevor Wood Associates also shows how the recession has taken a toll on the pipeline of new developments, which is at its lowest level since this piece of research was first published in 1998. The retail property specialist identified just 87 proposed new schemes or major extensions to existing schemes that are thought likely to proceed before the end of 2019.
These include the 1m sq ft Trinity Leeds scheme, which is being developed by Land Securities in the Yorkshire city. Completion is due next year with tenants expected to include Marks & Spencer, Next, Primark and Urban Outfitters.