November 16, 2015

Trevor Wood Associates has launched the latest edition of ‘Going Shopping 2016 – The Definitive Guide to Shopping Centres’ today (166h November) and revealed that larger shopping centres are not always considered the most attractive to shoppers, retailers and investors. Whilst Westfield Stratford City remains in 1st place, with Bluewater in 2nd and Westfield London third, eighteen of the 100 largest schemes do not feature in the top 100 at all.

The research, published annually, also found that there has been significant movement in shopping centre ownership and there are 14 additional schemes or major extensions in the pipeline, perhaps reflecting improving market conditions. September 2015 also saw the opening of Grand Central in Birmingham, which has shot up the table.

The research, which examines all 764 shopping centres in the UK, found that there has been: 17 positional changes in the top 20 owners/investment managers; 15 changes in the top 20 managing agents table; 13 changes in the top 20 letting agents; 9 within the top 20 centres; and 34 changes in the top 40 tenants.

Trevor Wood of Trevor Wood associates comments, “Once again, there were no new entries to the top twenty, although six centres in the top thirty, including Trinity Leeds, move up one place. Some large schemes are considered less attractive as they may be open to the elements or have little or no integral parking provision. Other schemes over 100,000 sq ft may have many vacant units or are dominated by low turnover or local retailers, who are less likely to generate significant pedestrian flows.


“Over 55% of the schemes in the top 500 recorded lower scores this time, for the third review in a row, while some of the highest increases were recorded by redeveloped, refurbished or extended schemes such as intu Potteries and Southside. As before there is still very much a premier division of shopping centres leading the way and this year we have added Trinity Leeds and Silverburn to the list of 29 supercentres.”

LaSalle has retained its position as the leading owner/investment manager and intu Properties is by far the number one direct property owner. NewRiver Retail has continued to rise up the table to fourth, with 26 schemes including four in the top 200. Land Securities drops to seventh place and British Land to eighth. Ellandi is the highest new entry, following the purchase of a number of shopping centres, and Capital & Regional and the recently re-named BMO Real Estate Partners have dropped out of the top 10.

Cushman & Wakefield remains the leading letting agent and following the firm’s merger with DTZ, has increased its figures significantly since the last review, including 49 of the top 200 schemes. Lunson Mitchenall maintains second place and Savills third.

JLL once again retains its position as the leading managing agent, Savills returns to second place and Workman slips to third. EE remains the leading shopping centre tenant, Card Factory has moved up the table and Vodafone has entered the top 10, replacing Clintons. In total there were 34 positional changes in the top forty, with a new entry – Warren James – replacing Marks & Spencer.


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