Having a major shopping centre within a city can provide both convenience and vibrancy to the area and an expert has stated that these facilities offer an "emotional experience" to consumers.
Many cities around the country have invested heavily in their shopping experience for consumers that inhabit the area. Leeds is currently in the midst of revamping its Trinity development, due to be opened in the spring of 2013, which officials have described as being "more than just a space" and Jason Sibthorpe, director of retail at GVA Grimley, holds these facilities in the same regard as the constructors.
Mr Sibthorpe noted that retailers looking to expand their portfolio are aiming to set up shop in major towns and cities that are continuing to make investment into their shopping opportunities.
His comments come after the CBRE published its latest monthly index which showed that the commercial property market was starting to show signs of improvement. The statistics revealed that there had been a 0.3 per cent fall in values over July; however this was marginally better than the 0.5 per cent drop in June.
The expert noted that investing in towns and cities that are making concerted efforts to improve their shopping facilities could prove more beneficial for retailers looking to increasingly expand.
With the UK being a nation obsessed with shopping, having a main centre that can satisfy these needs can be highly valuable for both companies looking to expand their business as well as the actual city itself. Those areas that are investing will present their residents with more opportunities and generally create a good feeling around the city.
Mr Sibthorpe said: "The major towns, major cities and major shopping centres have the broader offer. They have the leisure offer and the family dining centre, so their ability to create dwell time and to make the retail experience a broader more enjoyable and, to an extent, an emotional experience for the consumer is far greater."
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