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Retail property: Mapic preview

Retailers, landlords and agents will descend on Cannes this week to check out developments at property trade show Mapic.

Cushman & Wakefield

Battersea Power Station

Portfolio Last year the firm represented retail clients in more than 7,700 transactions across nearly 63.4 million sq ft, with a value of $15.62bn (£9.7bn). Clients include Battersea Power Station Development Company, Intu, H&M, Equinox, Primark, Apple, Gap and Banana Republic.

Commercial real estate broker Cushman & Wakefield returns to Mapic this year where it will be speaking about one of London’s most anticipated redevelopments, Battersea Power Station (pictured). Together with global property adviser CWM, Cushman & Wakefield has been appointed as a consultant for the scheme.

The 39-acre site in southwest London is earmarked for 3,500 new homes, 18 acres of open space, 1.7 million sq ft of offices and hotels and more than 1 million sq ft of retail.

It will be served by a new tube station and river bus jetty. Construction started in July and commercial opportunities within the power station itself are expected to begin in 2014.


Jones Lang LaSalle

Jones Long LaSalle

Portfolio The firm was appointed as an agent for Trinity Leeds, the only major shopping centre to open in western Europe this year and the first to open in the UK for two years.

Jones Lang LaSalle’s newly formed transport, airport and global infrastructure team has been appointed by Gatwick Airport to provide advice on its North and South Terminals. This year the South Terminal underwent a £21m makeover and a further 43,000 sq ft of retail space is being planned for the North Terminal.

The company is also letting units at Docks Bruxse (pictured), a shopping scheme in Brussels being developed by property firm Equilis. The centre is promising “experience shopping”, with street performances, concerts, fashion shows, exhibitions, competitions and fairs. The first leases have been signed and construction starts early next year, with a scheduled completion date of 2015.

The firm is also advising on SEC Avia Park in Moscow, a shopping centre under construction between major highways Leningradsky Prospect and Zvenigorodskoe and set to open in the final quarter of 2014. There will be 2.4 million sq ft of leasable space within the development, which will be anchored by Russian furniture store Hoff and UK department store Debenhams, while the Khodynskoe Pole metro station will open nearby.



JDP Beauvais

Portfolio Investments in 20 major shopping centres and 22 retail parks, providing 18.3 million sq ft of retail space.

Next May, Hammerson’s Les Terrasses du Port shopping centre will open in Marseille. With a 260m-long restaurant terrace overlooking the Mediterranean, the 603,000 sq ft centre will house 160 stores, anchored by Printemps.

The French department store will be joined by Michael Kors, Sandro, G-Star, Zara, H&M, Mango, Pull & Bear and Aldo.

The 251,875 sq ft Le Jeu de Paume centre is also in the pipeline at Beauvais, northern France. With 76 shops and five restaurants, 34% of space is already let with leases signed by H&M and Foot Locker, among others.

Construction will begin this winter and the scheme (pictured) will open in 2015.

Hammerson will be talking about its Victoria Gate development in Leeds, which will be anchored by John Lewis - the department store’s first branch in the city. Construction will begin in spring 2014.




Portfolio This mall is being jointly developed by the Russian government and a structural division of the Lider, a group of firms providing commercial and residential construction and management services. Lider’s portfolio comprises more than 26 million sq ft, including 13 schemes in Russia.

Set to open in December 2014, the Mari mall in Moscow is a 1.4 million sq ft development of mixed-use retail and office space.

The mall has more than 753,000 sq ft dedicated to retail and is looking to attract international fashion brands and popular domestic retailers to one of Moscow’s most prosperous and affluent areas, the Maryino District.

The location is also one of the most densely populated areas of Moscow.

Russia is a key emerging market for fashion retailers. In 2012, 17 international retailers entered the country and more than 20 companies announced their expansion into the Russian marketfor 2013.




Portfolio 20 designer outlets across the UK and Europe.

Designer outlet owner, developer and manager McArthurGlen is developing around 1.6 million sq ft of new retail outlet space across Europe, as well as its first outlet in North America.

McArthurGlen’s Vancouver opening is planned for 2015, as part of a joint venture with the Vancouver Airport Authority. Ground works have already begun on the site’s first retail phase of 242,187 sq ft, which will be followed by a second phase of 134,548 sq ft. The site is just three minutes by metro from Vancouver International Airport.

The second development will be in the Belgian city of Ghent, where the company will open a 344,445 sq ft designer outlet along with 150,694 sq ft of leisure space in a joint venture with real estate firm Banimmo. In January, McArthurGlen won planning permission for a 279,861 sq ft outlet just 45 minutes from Aix-en-Provence, southern France.

The business is also planning around 640,500 sq ft of extensions to eight existing centres, including Swindon (pictured) and Ashford.



Mall of Scandinavia

Portfolio 82 shopping centres in major European cities. 56 receive more than six million visits a year.

Property firm Unibail-Rodamco is developing the largest mall in Scandinavia, set to open in Stockholm in the
third quarter of 2015 with more than 1 million sq ft of retail and leisure space.

The mall will combine domestic retail tenants with large international names and also house a 15-screen cinema.

It is situated seven minutes by train from Stockholm and in a 2.3 million population catchment area. The city’s population is growing faster than anywhere else in Scandinavia and is expected to have increased 21.7% by 2030, compared with 15.8% in London.

This is set to have a knock-on effect on retail spending, with a rise of SKr67bn (£6.4bn) forecast by 2025, up 57% on current levels.


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