November 9, 2016

Trevor Wood Associates has launched the latest edition of ‘Going Shopping 2017 – The Definitive Guide to Shopping Centres’ today (8th November) and revealed that the UK’s shopping centre pipeline has increased, with 89 proposed schemes or major extensions thought likely to proceed before the end of 2023. intu Properties has also regained its position as the UK’s leading Investment Manager, Savills has become the new top managing agent and Cushman & Wakefield has retained its title as the top letting agent.

Trevor Wood of Trevor Wood Associates comments, “Once again, there were minimal changes to the top twenty shopping centres, with Westfield Stratford City, Bluewater and Westfield London retaining the top three positions. However, there have been some notable changes overall this year with over 50% of schemes in the top 500 recording lower scores, four new names in the top 200 and six new names in the top 300. Most schemes which have seen Bhs stores close, have slipped position, whilst the market adjusts, however we expect this to be a blip rather than a long lasting trend.

”Some of the highest increases were recorded by redeveloped, refurbished or extended schemes such as High Chelmer and The Walnuts Shopping Centre. Forty-three of the top 500 schemes have been refurbished or extended in the last 24 months. Three major schemes have also opened since the last review, namely The Broadway Bradford, Friars Walk in Newport and Victoria Gate in Leeds. Once again the research shows a distinct premier division of leading shopping centres and to that list we have added The Oracle and Cwmbran Shopping Centre this year.”

Within the top 20 shopping centres, Manchester Arndale moved back past intu Merry Hill to return to eighth position and St David’s rose to ninth place. Canary Wharf rose two more places to eleventh position while the centre:mk and Liverpool One both slip one place. Festival Place Basingstoke has made the top twenty for the first time and The Oracle returned to the top thirty.

Trevor Wood continues. “intu Properties returns to the top spot with a slight decrease in their score. The company owns nineteen schemes, with sixteen in the top 100 and six in the top 10. After we went to press however, they exchanged contracts to sell intu Bromley. LaSalle Investment Management has slipped to second position, following the sale of schemes such as Broadway Shopping Centre and Red Rose Centre. They now have forty four schemes, including four in the top ten.”

NewRiver Retail has continued to rise up the table to third, following the acquisition of The Ridings Shopping Centre, Broadway Shopping Centre, Capitol Shopping Centre and The Cornmill Shopping Centre.Ellandi has also risen three places. intu Properties is still by far the number one direct property owner.

Cushman & Wakefield remains the leading letting agent, with instructions on 42 top 200 schemes and seven top 20 schemes.New entries to the top 20 are Time Retail Partners and Rawstron Johnson.

Savills has replaced JLL as the leading managing agent, following its acquisition of GBR Phoenix Beard. Lambert Smith Hampton has moved up two places to fifth and Broadgate Estates enters the top 10 with a 32% increase in instructions, including two top 20 schemes.

EE remains the leading shopping centre tenant, with multiple occupancy in some schemes. Costa Coffee and Card Factory have both moved up the table and Holland and Barrett has entered the top 10, replacing The Carphone Warehouse. In total there were 33 positional changes in the top forty, with a new entry – The Works – and Marks & Spencer making its return.

Trevor Wood concludes, “The Lexicon in Bracknell, Barons Quay in Northwich and Rushden Lakes Shopping Park in Rushden are some of the schemes coming out of the ground. There are eight more schemes in the pipeline by 2023 than last year and, when you consider seven schemes in last year’s pipeline have been built out, hopefully this is a reflection of improving market conditions.”

Latest News


April 9, 2021 - 14:12

Turnstone Estates has sold a 1.3-acre development site on Ashdon Road, Saffron Walden to tool and plant hire company GR8 who intends to build out 20,500 sq ft of commercial space of which about 7,000 [...]

+ Read More


April 9, 2021 - 14:11

Rob Tudor, one of the most high-profile UK investment agents, has left the business he established 25 years ago to set up a new agency, Tudor Real Estate (TRE),  with his daughter Abigail Tudor and[...]

+ Read More


March 23, 2021 - 11:27

Arlington has agreed a freehold turnkey deal with luxury and supercar dealer HR Owen Plc for a new showroom at Hatfield Business Park, Hatfield, Hertfordshire. Arlington has sold a five-acre plot to [...]

+ Read More



+44 (0)20 7647 4420


Wren House, Garden Close Lane, Newbury RG14 6PR