Espace St Georges Positioning and Retail Mix
About the brand
Espace St Georges is a 14,500m2 shopping centre, with 40 shops including Bershka, New Look and Zara. As a result of strong local competition plus an off pitch location, the centre suffered from low footfall high vacancy and a confused retail proposition.
Previous research had failed to identify a future proof proposition for Espace St Georges. Asset manager Terranae required a realistic and achievable strategy to justify a proposed program of reconfiguration, refurbishment and leasing activity.
- Produce a robust assessment of trading potential and growth opportunities
- Identify an ideal future retail mix
- Prioritise strategic asset management initiatives.
WHAT WE DID
Undertook a field audit of Schloßstraße and major competing centres in Berlin
Conducted a Shopper Survey alongside high volume address collection
Defined SSC’s retail catchment and evaluated shopper expenditure
Provided a lifestyle profile of shoppers and catchment residents
Estimated Trading Gap opportunities
Assessed the quality, mix and positioning of competing retail floor space
Recommended the ideal mix of activities at SSC and suitable absent tenants
Recommended improvements to the layout / design, internal environment and appearance of SSC
Pragma recommended the ideal mix of activities at SSC, suitable absent tenants and a series of improvements to the layout, internal environment and appearance.
These recommendations have been adopted within Redefine International’s asset strategy plan and initiatives are under way to reduce vacancy and improve footfall / conversion.