The Retailer Winter 2018/19

Size is less relevant than ambition. Small markets can sit alongside their larger counterparts, such as the proposed transformation of Birmingham Smithfield in central Birmingham, where the City Council, advised by Cushman & Wakefield, has put the replacement Indoor, Rag and Outdoor Markets at the heart of a 42-acre redevelopment scheme. M ix Urban centres have always had a mixture of uses, but the trends in the New Towns, and in the growth of business parks and out-of-town shopping led to segregated use types, more rigidly defined. Our research showed that all new large development schemes in the pipeline contain a much broader mix of uses, and this New development will form part of successful places, however without long-term stewardship, the positive impact may be lost. BIDS and other management organisations have a significant role to play, for example, NE1, the Newcastle BID, was one of the more modest developments with the biggest impact. Adrian Waddell, NE1 CEO, spoke about some of their successes, “The absolute stand-out for me in terms of leaving a legacy for the city is Alive After Five” where retailers and businesses were encouraged to open after 5pm in the evening, with this period now accounting for 20% of the day’s trade; providing them with turnover and the City with a feeling of being active into the evening. is where real value will be created. P olicies for the Long Term

JOHN PERCY // john.percy@cushwake.com // cushmanwakefield.com

the retailer | winter 2019 | 23