KLM Retail sits down with Jonny Perkins, one of the founding team members of the recently launched Out of Town Retail & Leisure team, to find out more about the sector and the factors shaping it.
Q.1 How are Out of Town retail parks changing?
“Parks need to be relevant and show greater innovation to keep consumers interested and loyal. The streamline retailers have thrived, the retailers that have been sluggish, have gone. The parks where we have seen the most value are convenient and modern, for both consumers and retailers.”
Q.2 What are the key factors shaping this change?
“Multi-channel shopping and time. Put those two together and consumers are harder to attract. Simply put , it's the competition. Retail Parks, just like other retail destinations, need to adapt and stay relevant if they are to prosper.”
Q.3 How is KLM Retail well positioned to enable clients to access this opportunity?
“Understanding the retailers' requirements and viewpoints is crucial for a landlord to build a better retail asset. KLM Retail's unique occupational and capital markets expertise in retail, offers a fantastic opportunity for landlords to unlock further potential in assets and to drive value.”
Q.4 What is your advice to investors, developers and occupier clients interested in out of town retail parks?
“Out of Town Retail Parks have proven resilient and adaptable time and time again. The right advice combined with specialist retail insights can allow occupiers and owners alike to make assets grow like no other sector."
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