A presentation of
The Definitive Guide to Retail
& Leisure Parks 2020
Liz Williamson General Manager
Trevor Wood Associates
Top 10 Retail Parks in the UK 2020
The Definitive Guide to Retail & Leisure Parks 2020
Rank Scheme Location Region
1 Middlebrook Retail & Leisure Park Bolton North West
2 Castlepoint Bournemouth South West
3 Clifton Moor Centre (Phases 1 - 4) York Yorkshire & Humberside
4 Fort Kinnaird Edinburgh Scotland
5 Parkgate Shopping Rotherham Yorkshire & Humberside
6 New Mersey Liverpool North West
7 The Brewery Romford South East
8 Glasgow Fort Glasgow Scotland
9 Rushden Lakes Shopping Park Rushden East Midlands
10 Giltbrook Nottingham East Midlands
These Retail Parks are ranked the same as 2019
Top 5 Shopping Parks in the UK 2020
The Definitive Guide to Retail & Leisure Parks 2020
Rank Scheme Location Region
1 Castlepoint Bournemouth South West
2 Fort Kinnaird Edinburgh Scotland
3 Parkgate Shopping Rotherham Yorkshire & Humberside
4 New Mersey Liverpool North West
5 Glasgow Fort Glasgow Scotland
These Shopping Parks are ranked the same as 2019
Top 10 Retail Warehouse Clusters in the UK 2020
The Definitive Guide to Retail & Leisure Parks 2020
Rank Scheme Location Region
1 Westwood Road Broadstairs South East
2 Monks Cross York Yorkshire & Humberside
3 WestQuay Southampton South East
4 Newcraighall Edinburgh Scotland
5 Lakeside Grays South East
6 Cribbs Causeway Bristol South West
7 Braehead Renfrew Scotland
8 Tritton Road Lincoln East Midlands
9 Sealand Road Chester North West
10 Middlebrook Bolton North West
8 positional changes to the table compared to last year – Monks Cross the highest riser
Top 10 Investment Managers for Retail Warehousing
Aberdeen Standard Investments lead for the 3rd year while the top 10 remains unchanged
The Definitive Guide to Retail & Leisure Parks 2020
2019 Rank: 2 2018 Rank: 2
2019 Rank: 1 2018 Rank: 1
2019 Rank: 3 2018 Rank: 3
2019 Investment Manager 2018
4th M & G Real Estate 4th
5th CBRE Global Investors 5th
6th IKEA 6th
7th Nuveen Real Estate 7th
8th Aviva Investors 8th
9th Legal & General Investment Management 9th
10th LaSalle Investment Management 10th
Top Investment Managers for RW
Regional Leaders
The Definitive Guide to Retail & Leisure Parks 2020
SC
EA
SW
WA
NI
MCAP Global Finance
WM
EM
N
NW
Y&H
SE
Top 10 Direct Property Owners for Retail Warehousing
The Definitive Guide to Retail & Leisure Parks 2020
2019 Rank: 2 2018 Rank: 2
2019 Rank: 1 2018 Rank: 1
2019 Rank: 3 2018 Rank: 5
2019 Investment Manager 2018
4th Prudential Life Fund 6th
5th UK Retail Warehouse Fund 5th
6th B & Q Properties 7th
7th Peel Holdings 8th
8th Orion European Real Estate Fund V ***
9th EPISO 10th
10th Brookhouse Group 11th
British Land maintain 1st place while Orion European Real Estate Fund V appear for the first time
Top 10 Investment Managers for Retail Parks Aberdeen Standard Investments lead for the 3rd year while there were 6 positional changes to the top 10
The Definitive Guide to Retail & Leisure Parks 2020
2019 Rank: 2 2018 Rank: 2
2019 Rank: 1 2018 Rank: 1
2019 Rank: 3 2018 Rank: 3
2019 Investment Manager 2018
4th Nuveen Real Estate 5th
5th Columbia Threadneedle Investments 4th
6th Tristan Capital Partners 9th
7th CBRE Global Investors 8th
8th Legal & General Investment Management 6th
9th LaSalle Investment Management 7th
10th Aviva Investors 10th
Top Investment Managers for RP
Regional Leaders
The Definitive Guide to Retail & Leisure Parks 2020
SC
EA
SW
WA
NI
MCAP Global Finance
WM
EM
N
NW
Y&H
SE
Top 10 Direct Property Owners for Retail Parks
The Definitive Guide to Retail & Leisure Parks 2020
2019 Rank: 2 2018 Rank: 3
2019 Rank: 1 2018 Rank: 1
2019 Rank: 3 2018 Rank: 4
2019 Investment Manager 2018
4th Prudential Life Fund 5th
5th Orion European Real Estate Fund V ***
6th EPISO 7th
7th Landsec 6th
8th Peel Holdings 8th
9th BlackRock UK Property Fund 9th
10th Brookhouse Group 10th
British Land maintain 1st place while Orion European Real Estate Fund V are a new entry
Top 10 Managing Agents for Retail Warehousing
The Top 6 remain unchanged while MAPP are the highest climbers
The Definitive Guide to Retail & Leisure Parks 2020
Rank 2019
Rank 2018
Managing Agent Change
1st 1st Savills ▬
2nd 2nd JLL ▬
3rd 3rd Workman ▬
4th 4th CBRE ▬
5th 5th Broadgate Estates ▬
6th 6th Fidum Property Management ▬
7th 9th Mapp ▲
8th 7th Lambert Smith Hampton ▼
9th 10th Colliers International ▲
10th 8th Cushman & Wakefield ▼
Top Managing Agents for RW
Regional Leaders
The Definitive Guide to Retail & Leisure Parks 2020
SC
EA
SW
WA
NI
WM
EM
N
NW
Y&H
SE
Top 10 Managing Agents for Retail Parks
There are no new entries to the top 10 this year
The Definitive Guide to Retail & Leisure Parks 2020
Rank 2019
Rank 2018
Managing Agent Change
1st 1st Savills ▬
2nd 2nd JLL ▬
3rd 3rd Workman ▬
4th 4th CBRE ▬
5th 5th Broadgate Estates ▬
6th 6th Fidum Property Management ▬
7th 8th Mapp ▲
8th 7th Lambert Smith Hampton ▼
9th 10th Colliers International ▲
10th 9th Cushman & Wakefield ▼
Top 10 Letting Agents for Retail Warehousing Savills are now the leading agent, surpassing Avison Young for the first time
The Definitive Guide to Retail & Leisure Parks 2020
Rank 2019
Rank 2018
Managing Agent Change
1st 2nd Savills ▲
2nd 1st Avison Young ▼
3rd 4th Curson Sowerby Partners ▲
4th 3rd Morgan Williams ▼
5th 5th Harvey Spack Field ▬
6th 6th CWM ▬
7th 8th Edgerley Simpson Howe ▲
8th 10th McMullen Real Estate ▲
9th 9th Stockford Anderson ▬
10th 7th Cushman & Wakefield ▼
Top Letting Agents for RW
Regional Leaders
The Definitive Guide to Retail & Leisure Parks 2020
SC
EA
SW
WA
NI
WM
EM
N
NW
Y&H
SE
Top 10 Letting Agents for Retail Parks Savills are still the leading agent while McMullen Real Estate rise to 8th
The Definitive Guide to Retail & Leisure Parks 2020
Rank 2019
Rank 2018
Managing Agent Change
1st 1st Savills ▬
2nd 2nd Avison Young ▬
3rd 3rd Curson Sowerby Partners ▬
4th 4th Morgan Williams ▬
5th 5th Harvey Spack Field ▬
6th 6th Stockford Anderson ▬
7th 7th CWM ▬
8th 10th McMullen Real Estate ▲
9th 8th Edgerley Simpson Howe ▼
10th 9th Cushman & Wakefield ▼
The Definitive Guide to Retail & Leisure Parks 2020
UNITS DECREASE
million sq. ft. NATIONAL
RANK
0 ***
70 -20% 13
0
***
212 -8% 16
245 -3% 5
1
2
3
4
5
Top 5 Decreasing Tenants
-100%
-100%
DECREASE %
-0.10
-1.10
-0.60
-0.59
-0.17
The Definitive Guide to Retail & Leisure Parks 2020
UNITS INCREASE
million sq. ft. NATIONAL
RANK
239 2
196 12% 6
74
7
68 22% 23
37 61% 47
Top 5 Increasing Tenants
9%
8%
INCREASE %
0.13
0.47
0.34
0.21
0.20
1
2
3
4
5
Top 20 Leading Retail Park Tenants
B & Q continue to lead, Home Bargains and The Range move up the table and Dunelm return to the top 10
The Definitive Guide to Retail & Leisure Parks 2020
Top Retail Park Tenants
Regional Leaders
The Definitive Guide to Retail & Leisure Parks 2020
SC
EA
SW
WA
NI
WM
EM
N
NW
Y&H
SE
Retail Warehousing Floorspace Historical Analysis Increase in floorspace fell while overall supply grew by 0.7%
The Definitive Guide to Retail & Leisure Parks 2020
0
20
40
60
80
100
120
140
160
180
200
220
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Total RetailWarehousingfloorspace (includingRetail Parks)
Total Retail Parkfloorspace
Retail Warehouses noton Retail Parks
Available RetailWarehousing
"Second-hand" spaceavailable
Vacancy rates by planning consent - % Overall vacancy rate is now 7.6% - the highest since Q2 2014 but the rise is slowing
The Definitive Guide to Retail & Leisure Parks 2020
0
1
2
3
4
5
6
7
8
9
10
Q22014
Q42014
Q22015
Q42015
Q22016
Q42016
Q22017
Q42017
Q22018
Q42018
Q22019
Q42019
All RetailWarehousing
Open A1 schemes
Open Non Foodschemes
Bulky Goods orRestricted schemes
Top 5 Historical Peak Rents
Top rents exclude A3 and leisure units as well as those units under 4,000 sq. ft.
The Definitive Guide to Retail & Leisure Parks 2020
Fosse Shopping Park, Leicester £105.00
Brookfield Shopping Park, Cheshunt £75.00
Brent South Shopping Park, London £66.00
Birstall Shopping Park, Leeds £65.00
Colney Fields Shopping Park, St Albans £65.00
Pipeline
The Definitive Guide to Retail & Leisure Parks 2020
104 schemes are still proposed – 65 are thought likely to proceed before 2027
110 schemes have been built out
38 opened with reduced GLA 9 schemes became standalone
Grocery Stores
69 of these were refused planning or withdrawn
19 of these have converted to Residential
10 were re-developed for non-retail
299 developments have been proposed in the last 10 years
Northern Gateway - Colchester Weymouth Gateway Retail Park The Circus - Liverpool
27 fewer than 2018
Schemes coming out of the ground
2020 Summary
The Definitive Guide to Retail & Leisure Parks 2020
Aberdeen Standard Investment
are the top Investment Manager
Savills are still the leading Management Agent &
now the leading Letting Agent
B & Q remain the top tenant Mothercare recorded the biggest decrease
B & M recoded the biggest increase
There are some significant regional differences
The vacancy rate has increased to 7.6%
The pipeline has decreased
British Land
are the top Direct Property owner
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