92% - Completely · Property Director, TGI Friday’s Multi-storey car park & restaurant...
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Transcript of 92% - Completely · Property Director, TGI Friday’s Multi-storey car park & restaurant...
13M ESTIMATED ANNUAL FOOTFALL
Glasgow Fort’s striking architectural horseshoe shape design mirrors a traditional high street/mall layout. It is currently a 710,000 sq ft destination (incl. mezzanines), with 86 retail and leisure units
Glasgow Fort’s survey performance exceeds the super-regional shopping centre average
92% OF V IS ITORS SPEND ON RETAIL(VS SUPER-REGIONAL AVERAGE OF 83%)
£124 AVERAGE RETAIL SPEND(VS SUPER-REGIONAL AVERAGE OF £100)
T H E L E A D I N G S H O P P I N G & L E I S U R E D E S T I N AT I O N S E RV I N G T H E E A S T, N O RT H & S O U T H E A S T O F G L A S G OW, W I T H A C AT C H M E N T O F 2 M P E O P L E
PLANNING CONSENT OBTAINED FOR AN 171 ,500 SQ FT RETAIL EXTENSION, 111,500 SQ FT OF WHICH IS NOW ON-S ITE AND LAUNCHING MAY 2015 , ANCHORED BY AN 80 ,000 SQ FT M&S . THE ADDIT IONAL 60 ,000 SQ FT I S AVAILABLE AS A POTENTIAL FUTURE BUILD
IMPRESSIVE RETAILER
SALES DENSITIES
EXTENDED OPENING HOURS TO 10PM50% OF WEEKDAY TRADE OCCURS BETWEEN 5PM AND 10PM
35% OF VISITORS SPEND ON CATERING(VS SUPER-REGIONAL AVERAGE OF 34%)
£22 AVERAGE CATERING SPEND(VS SUPER-REGIONAL AVERAGE OF £13)
An 8 screen Vue cinema & 5 new restaurants opened in August 2013
DWELL TIME
102 MINUTES(VS SUPER-REGIONAL AVERAGE OF 93)
Multi-storey car park & restaurant development CGI
55VISITS PER YEAR (VS SUPER-REGIONAL AVERAGE OF 43)
DWELL TIME
102 MINUTES(VS SUPER-REGIONAL AVERAGE OF 93)
IMPRESSIVE RETAILER
SALES DENSITIES
“Office at Glasgow Fort has been a huge success story since opening in late 2012.
This was our first shopping park location in the UK and given the positive performance, we would consider upsizing.”
– Kirsti Eames, Commercial Director, Office
“Our restaurant at Glasgow Fort has consistently been one of our busiest restaurants in Scotland since opening, and the planned changes to the Park can only give increased benefit in the long term.”
– Peter Atkinson, Senior Acquisitions Manager, Nando’s
“Glasgow Fort is a good store for Costa, as the park has gone from strength to strength. Costa has a strong relationship with British Land across their centres, and the close relationship and their investment in the park is of great benefit.”
– James Hamilton, Head of UK Acquisitions and Estates, Costa
“One of our most successful restaurants from both a trading and development point of view.“
– David Carroll, Property Director, TGI Friday’s
Multi-storey car park & restaurant development CGI
CRUISE
HAIR
ZONE
M8
MO
TO
RW
AYUNITS TO LET
UNDER OFFERUNDER OFFER
OCCUPIED UNITS
PHASE 2
CAR PARK
80,000 SQ FT OPENING
MAY 2015
PHASE II DEVELOPMENT
GRAVITY
5,000 SQ FT
6,000 SQ FT
9,215 SQ FT
7,285 SQ FT
1,837 SQ FT
3,000 SQ FT
MULTI STOREY CAR PARKING
2,500 SQ FT3,000 SQ FT
3,000 SQ FT
scotts
UNDER OFFER
UNDER OFFER
UNDER OFFER
UNDER OFFER
UNDEROFFER
UNDEROFFER
UNDER OFFER
1,900 FREEPARKINGSPACES
PHA
SE 2
MODA IN PELLE
GRAVITY
HAIR
ZON
E
M8
MO
TO
RW
AYUNITS TO LET
OCCUPIED UNITS
PHASE 2
CAR PARK
1,916
600FREEMULTI- STOREY PARKING SPACES
FREESURFACE PARKING SPACES
55VISITS PER YEAR (VS SUPER-REGIONAL AVERAGE OF 43)
GlasgowM8
M73
A80
A8
M80
J10
East Kilbride
Silverburn
Braehead
Edinburgh
n Unrivalled access directly off J10 of the M8
n £153m physical comparison goods spend potential
n £39m catering spend potential
n Attracts a 55% more affluent ACORN profile than expected (i.e. Affluent Achievers, Rising Prosperity & Comfortable Communities)
n 17% of visitors are Executive Wealth vs the GB average of 11%
n Overall customer experience rated 4.7 out of 5
n 2,516 free parking spaces
Source: CACI Retail Footprint 2014 | 2013-14 exit surveys
Ownership
The Hercules Unit TrustAsset Managed By: Leasing Agents:
Matthew Reed020 7467 [email protected]
Martin Gudaitis0141 212 [email protected]
Toby Sykes020 7152 [email protected] Dakin020 7152 [email protected]
MISREPRESENTATION NOTICEMontagu Evans or Cushman & Wakefield for themselves and for the vendors of this property, whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them;(iii) no person in the employment of Montagu Evans or Cushman & Wakefield has any authority to make or give any representations or warranty whatever in relation to this property or the particulars, nor enter into any contract relating to the property on behalf of Montagu Evans or Cushman & Wakefield nor any contract on behalf of the vendors; and (iv) no responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold or withdrawn.
* These centres are prime retail and leisure destinations, purpose built covered centres, typically with in excess of 150 units and anchored by at least one large department store. They are among the largest retail destinations in the country with a profile and retail mix comparable to large city centres and have an average market potential of £700 million. These centres rank within the top 50 retail centres in the UK. Examples of this type of centre include Meadowhall, Bluewater, Westfield London and Cribbs Causeway. Source CACI.
