LCR Waterloo - Retail Strategy
About the brand
With over 100 million passengers, Waterloo station is the busiest railway station in London and the UK.
LCR is aiming to repurpose the former Eurostar terminal at Waterloo station and in doing so, create a world class development that will assemble an engaging mix of experiences, underpinned by 135k ft2 of retail, dining and leisure.
The Challenge/Task
London Continental Railways (LCR) are developing an exciting new retail, restaurant, and leisure destination in the heart of London’s South Bank – The Sidings - situated in the former Eurostar terminal at Waterloo Station.
They required a strategic review of the potential trading performance of the development; wishing to understand the quantum, composition, and potential spend from the target customer base, to inform the appropriate tenant mix achievable sales and rental income of the development.
WHAT WE DID
Pragma worked closely with LCR and ERA Consultancy on the following workstreams
Undertook a visioning workshop with stakeholders and agents to understand the strategic objectives of development
Identified and quantified the unique user groups available to The Sidings and highlighted the relative value of each, to ascertain a target customer base
Developed recommendations on the proposition and composition of commercial space to best serve The Siding’s target customer base, in light of their behaviour, needs and requirements
Provided sales projections and a robust assessment of the rental income that The Sidings could support and sustain
Created a leasing pack to be utilised by the agents in attracting recommended brands to The Sidings
The Result
The insight and output from the final report has provided a robust foundation to support LCR in the optimum implementation, leasing and delivery of the scheme.