Bristol identified as ‘retail success story’ in report

Launch of Midsummer Retail Report - caption below press release

A  commercial property specialist has identified Bristol as one of the success stories of the South West in adapting to the changing demands of modern consumers.

According to the latest Midsummer Retail Report (MSRR) from real estate advisor Colliers International, leading shopping locations in the greater Bristol area have been flourishing at a time when UK retailing and the commercial property sector which supports it have been facing radically altered shopping landscape.

Nick Turk, Bristol-based retail director at Colliers International, said the key to Bristol’s achievement had been in attracting a combination of retail and leisure operators.

He comments: “The Hammerson/Ginko partnership have moved on with their plans for Cabot Circus and a year into their ownership are really motoring.

“They have created a stronger A3, or food and drink, core around Quakers Friars with L’Osteria the most recent addition

“. They are Italian and this will be their first unit in the UK, and it illustrates that clever landlords do not have all the ‘usual suspects’ in a scheme – they need to differentiate from other centres where food is concerned.

“Indeed they will often have local pop up A3 units interspersed with well-known brands as well as new operators, to the UK or to a city, like L’Osteria.

“Improving the food offer has happened at the same time that the landlord has started forming a stronger fashion element with Fred Perry, an upsized Hugo Boss and a Michael Kors all opening this year.

Speaking at the official South West launch of the Midsummer Retail Report at Showcase Cinema de Lux in Bristol, Mr Turk also said: “A 100,000 sq ft extension to Cribbs Causeway is on the cards and that is currently going through the planning process, showing how bullish the owners are about this scheme.”

He added that Colliers International had recently been asked to market the long leasehold interest in the BHS in Cribbs Causeway, which is one of 162 BHS units to come to the market nationally.

“Many of these stores will be snapped up by Primark, Next and the like, but some will suffer the fate of redundant retail properties and will go to a 24/7 mixed use development with residential and leisure to the fore.”

The Colliers International Midsummer Retail Report (MSRR) is the most comprehensive annual review of the UK shopping scene and monitors rents and empty shops across the country.