Latest news
Leisure facilities boost retail parks
Leisure operators are increasingly being sought by retail park developers across the UK to boost the appeal of their schemes according to The Definitive Guide to Retail & Leisure Parks - Shopping Meets Leisure 2002 - an analysis of the retail warehouse and leisure sector published by FPDSavills Commercial and TW Research Associates.
The review identifies a 15 per cent increase since 2001 in the provision of leisure facilities such as cinemas, bowling alleys and health and fitness clubs at the UK's retail parks (above 2,787sq m).
Trevor Wood, principal of TW Research Associates, says developers are looking to create greater diversity at their schemes in order to drive revenue through increased footfall and dwell time:
'From a total of 806 retail parks trading or under construction, 111 (or 14 per cent) now include a leisure element, while 15 parks have three or more leisure units.'
The review also highlights the growth in leisure parks over the past five years. Of 94 leisure parks trading or under construction, 51 have opened since 1997.
Andrew McGregor, leisure director of FPDSavills, said 'Leisure and retail facilities at the same scheme can provide added value when both elements complement each other. The leading example of this is at Xscape in Milton Keynes, which was envisaged from the start to provide not only a new mix of retail and leisure operators, but a wholly integrated retail and leisure destination.'
The review also illustrates a growing trend towards the inclusion of nightclubs within out-of-town retail and leisure schemes with 58 parks across the UK operating a late night music venue.
The review is available for £245.00 from TW Research Associates, [email protected]; tel: +44 (0)1494 715846.