Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Mall fortunes

More than two years ago, the town of Exeter in Devon was nicknamed a clone town because only one in 50 of its high street shops was an independent retailer. Not great news for a place that began life in 50AD as a Roman fortress and town.
Exeter has spruced up its image since then, going so far as to entice – with the help of property developers – a handful of indie retailers to open in its brand new shopping mecca, the Princesshay centre.

Usually the reserve of large chains, shopping centres are slowly changing in their composition as developers increasingly embrace the idea of diversity in retail.

Apart from injecting much-needed diversity into the town, the indie-in-shopping-centre strategy also benefits the independent retailers, who can negotiate a smaller rental fee than their larger, more established counterparts. Opening in a shopping centre also gives them access to a larger customer base, as well as the benefit of centre security and facilities.

John Grimes, retail leasing director at Princesshay developer Land Securities, says incorporating independent retailers into their shopping centres is part of their development strategy. During the Princesshay development, Grimes’ team of agents scoured the country for the best independent retailers to find a way of getting them into Exeter.

At the opening of Princesshay last month, every one of these indies told me they knew they had made the right decision.
So what do you think? Do indies improve the tenant mix in shopping centres? Are you an indie that has made the leap?

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.