Bon Accords Transformation Boosted Further By Arrival More Fashion Names
Friday, 28 August 2009
The finishing touches to Aberdeen's new-look Bon Accord Centre were made recently (Sat 22 August) with the arrival of more top fashion names in the form of Topshop, Topman and River Island.
This follows a string of store openings since May, including Karen Millen, Warehouse, Oasis, Coast and the new 54,000 sq ft flagship Next - its largest in Scotland - which launched earlier this month. The stores are all located in the newly refurbished central atrium which has benefited from a £13m facelift.
These impressive additions to Bon Accord will bring the total additional space opened in the centre by fashion retailers this summer to 95,000 sq ft, helping create over 150 new jobs for the city.
More stores are set to open in the coming months, including Kurt Geiger and Phase Eight, as well as further retailer announcements in the pipeline.
The Bon Accord & St Nicholas centres are jointly owned by Land Securities and British Land. On behalf of the partnership, Katherine Armstead, said: "We have invested significantly in the Bon Accord Centre to successfully attract the fashion names that will enable the city to compete with other Scottish shopping destinations.
"The new-look atrium now boasts eight fantastic retailers creating a unique fashion hub which is sure to be a huge draw for shoppers. The new stores will also go some way in helping heighten awareness of what Bon Accord and the city of Aberdeen can offer and will undoubtedly help attract even more interest from retailers and shoppers alike."
Ian Dudley of the Aurora Group (owners of Karen Millen, Coast, Warehouse and Oasis) adds: "Our brands have already enjoyed a successful opening period at Bon Accord reaffirming the fact that the new-look centre has created the perfect destination to locate our successful brands. I'm confident that the recent openings of other key fashion names will further add strength to Bon Accord's overall appeal."
Bon Accord & St Nicholas is a dominant regional scheme, anchored by John Lewis and Marks & Spencer, attracting around 270,000 shoppers a week and benefits from a strong oil-based economy.
Eric Young & Co, Cushman & Wakefield and FG Burnett are joint retail agents for Bon Accord & St Nicholas.
- Bon Accord & St Nicholas centres together form the prime pitch for Aberdeen shopping
- The schemes are under the single ownership of the Scottish Retail Property Limited Partnership (SRPLP) - a joint venture between Land Securities plc and British Land plc.
- 80 stores are represented, including John Lewis, Marks & Spencer, New Look, Boots, Next, Republic and Monsoon.
- 550 cover food court with 7 different food offers
- 1,200 parking spaces - including disabled and parent/child provision
- Footfall averages over 270,000 people per week, making it one of Scotland's busiest shopping locations.
- Bon Accord was originally built in 1990, and St Nicholas before then in 1985
- The location off to the north side of Union Street forms Aberdeen's prime retailarea and is quickly becoming known as the 'Bon Accord Retail Quarter' with the 'Bon Accord Quarter Masterplan' receiving outline approval from Aberdeen City Council in 2006.
- Aberdeen is Scotland's third largest city
- Aberdeen has a shopping catchment of 400,000 - 52% in the AB+C1 demographic classes - boosted by the affluent oil industry
Land Securities Group PLC
- Land Securities is the UK's leading Real Estate Investment Trust and has a large portfolio of commercial property in London and UK regional cities.
- The portfolio comprises over 50 retail parks and shopping centres including the quadruple award winning Cabot Circus in Bristol and The Centre in Livingston. It is also the leading provider of office accommodation in London owning properties such as the Piccadilly Lights, Westminster City Hall, Cardinal Place in Victoria and the newly created New Street Square complex in Midtown.
- Through its development programme Land Securities is creating attractive and innovative new offices and retail destinations that transform their surroundings. On site now in London, 'One New Change' is revitalising the area surrounding St Paul's cathedral while in Cardiff the retail offer and amenities of the City are being dramatically enhanced with the St David's scheme.
- British Land is one of the UK's largest Real Estate Investment Trust with total assets, owned or under management, valued at £12.3 billion, as at 31 March 2009.
- The hallmark of the business is a focus on customers, based on a portfolio in prime locations in the UK and more recently in Western Europe. Active management of these assets, purchases and sales and new development activity, tailor the property holdings to meet the needs of occupiers.
- The portfolio, focused on the Out of Town Retail and London Office sectors, has the longest leases at average 13 years and occupancy rates at 96%, among the highest of the major UK REITs.
- Retail assets account for 56% of the portfolio, 82% of which is located at prime out of town sites. Central London Offices comprise 42% of the portfolio. New office and retail developments complement these holdings.
- Sustainability is at the core of the business - from community involvement in the planning process, through development, refurbishment and management, the aim is to provide attractive buildings that minimise resource use and meet the needs of occupiers today and tomorrow.