Liverpool is one of the largest cities in the North West of England. Historically an important manufacturing city and a major global shipping hub, Liverpool has transitioned into an economy dominated by the services sector. As a result of its rich heritage as a major port, its 2008 status as the European Capital of Culture, and being the home of six UNESCO World Heritage areas, Liverpool has become an important tourist destination.
Tourist numbers in the city have increased year on year, with eight new hotels being built in 2013 and occupancy rates rising to 71.2%, making Liverpool the 5th most visited English destination for international and domestic visitors.
Although activity remains reliant on the public sector, the city can boast favourable demographics, with a high percentage of the population under the age of 30.
The retail landscape has been invigorated by the addition of new developments such as Liverpool One, which has transformed the city centre and substantially boosted the retail provision. The city now houses a range of international retailers, including: Apple, H&M, Zara, New Look and Topshop. Other high-profile additions, a large proportion of which are situated in Liverpool One, include Harvey Nichols, Michael Kors, Ted Baker, Cadenzza and Hotel Chocolat, highlighting the city’s enduring attractiveness.
Liverpool city council remain committed to re-developing the heart of the city, having recently approved planning for the 60ha Liverpool Waters scheme, a £5.5 billion development by Peel Holdings to include 400,000 sq.m of retail, 9,000 new homes and 350,000 sq.m of leisure and office space.
Alongside Liverpool One, Church Street remains one of the most important shopping destinations in Liverpool. Cutting across the city centre, the street houses retailers such as River Island, Topshop, Primark, Marks & Spencer and Next.
The Met Quarter is located in the city centre and provides a range of high-end aspirational international retail brands, including Armani Exchange, L.K. Bennett, MAC, Links of London and Diesel. In addition there are a number of multiple restaurant operators, including Carluccio’s and Patisserie Valerie.
Liverpool One Shopping Centre
Liverpool One is a unique retail and leisure destination at the heart of Liverpool. Its virtually invisible boundaries connect the city with the impressive waterfront and the inspiring architecture of the commercial district.
Spread over three levels, Liverpool One is the region’s destination of choice for consumers and brands alike. Its offer includes over 170 high street names anchored by John Lewis, Beauty Bazaar Harvey Nichols, Debenhams and the largest Topshop in Europe outside of London. Other recent additions include Byron, Browns and TGI Friday’s. Ted Baker recently doubled the size of its store and Zara is currently creating its new regional flagship. In total, 22 brands committed in 2013, and Liverpool One is now 99% let or under offer, with footfall having grown by 37% since 2009.
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 2,000 SQFT||RANGE OF UNIT SIZES|
|Liverpool One||Mass and premium market shoppers||John Lewis, Debenhams, H&M, Superdry, JD Sports, New Look||Michael Kors, Cadenzza, Zara (upsize), Argos, Bose, Levi’s, SuperTrash, Ugg, CassArt and Pretty Green.||£275,000 P.A||150 - 160,000 sq ft|
|Church Street||Mass market||Topman, Next, M&S, Primark||Kurt Geiger, RBS.||£275,000 P.A||1,000 - 100,000 sq ft|
|Met Quarter||Premium, high end||MAC, Armani Exchange, All Saints||Illamasqua, Made,com and Rex.||£125,000 P.A||500 - 7,000 sq ft|
Data as of September 2015
Part of the designated UNESCO World Heritage sites, the Albert Dock has been transformed into a major tourist destination, with over four million visitors every year, and is now home to a number of well-known restaurants and bars.
Mann Island is a new riverside mixed-use development which provides a number of new bars and restaurants alongside 376 new residential apartments. Liverpool One aso provides a large number of bars, restaurants and leisure anchors.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATOR INCLUDING||RENT FOR 3,500 SQFT UNIT|
|Liverpool One||Locals, shoppers, tourists||Browns, TGI Friday, Côte, Bill’s, Red’s True BBQ, Wahaca and Busaba||£200,000|
|Albert Dock||Tourists||The Pumphouse, Gusto||£70,000|
|Met Quarter||Affluent locals||Carluccio’s, Patisserie Valerie||£80,000|
|Castle Street||Tourists, locals||San Carlo, Viva Brazil, 62 Castle Street and CAU||£100,000|
|Rope Walk||Locals evening||Red Door, Chez le Coq, Blind Tiger, Jacaranda, Miss Kitty’s||£100,000|
|Moorfields||Affluent locals, tourists||The Vincent Cafe & Cocktail Bar|
Data as of September 2015
Victoria DaviesAssociate Partner, EMEA Retail, Cushman & Wakefield LLP
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