Air was in Liverpool for Revo 2017. The highlight of the event was being able to see Tellon Capital successfully launch Bargate Quarter’s new branding. We were appointed to reposition the once failed Bargate shopping centre to coincide with Tellon’s vision to create a vibrant, aspirational hub that celebrates its iconic heritage.
The new development will house premium shops and restaurants, as well as 152 high specification apartments that overlook the city’s parks and pristine public realm.
But the question is, why are shopping centres such as the original Bargate failing in the first place? James Child (head of retail research at EG), Garison Haitian (managing director at Leisure Way) and Cameron Scott (CEO at Nashbond led a panel which discussed the latest placemaking trends.
Footfall in town centres is down due to large brands relocating to out-of-town destinations, retail take up also decreased by 11% per sq ft. On the other hand, food and beverage take up has grown from 25% to 27% over the last year. Research shows that a diverse food and beverage offering is key to attracting consumers.
Investors also need to develop an environment which creates an emotional connection with its visitors. The best way to achieve this is by providing high quality leisure facilities that appeal everyone. This is because people visit retail destinations to explore, engage and socialise.
The regenerated Bargate Quarter’s blend of upmarket shops, restaurants and leisure facilities will make it a great place for people place to meet, shop and explore. The added historic element will also help create an emotional connection, this will give the scheme a competitive advantage.
Due to the already bloated retail footprint and the ever-increasing popularity of online shopping, only the best shopping centres will survive. Therefore, any future development, refurbishment and leasing decisions have to take the changing needs of the consumer into account just like Tellon Capital have done with the Bargate Quarter project.