Shopping centre research for Queensberry Real Estate.

Friars Walk is a 390sqft scheme in Newport, due to open in Autumn 2015, with Debenhams already confirmed as its main anchor as well as a number of retailers opening in Newport for the first time or returning to the city centre.

Project

Queensberry Real Estate, along with its development partner, Newport City Council, engaged Javelin Group to provide research-based marketing material to support the viability of the new scheme.

Outputs

Javelin Group understood the impact of Friars Walk on regional shopping patterns and defined the catchment area that a new and reinvigorated Newport would draw trade from. Being able to quantify potential sales and sustainable rent opportunity allowed Queensberry to keep track on their likely return on investment.

Benefits

Javelin Group’s work has been instrumental in helping Queensberry to secure tenants for the scheme and instill confidence in its overall success.

The letting process for Friars Walk has been going very well. We’re 60% let with about a year to go before opening. Javelin Group’s work has been instrumental in helping us get to this point not only in terms of giving us the confidence that this development will be a success but also in persuading retailers that opening a store in Wales, in Newport, close to Cardiff, is going to be a profitable exercise for them. At a time when retailers are re-thinking the shape of their portfolios, having research to support the viability of a new scheme from a respected company such as Javelin Group is essential.
Stuart Harris, Commercial Director & Co-Founder, Queensberry Real Estate.

www.queensberryrealestate.com

Find out more about Javelin Group’s Shopping Venue Futures service line.