RETAIL CONSULTANCY SERVICES Case Studies
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1 RETAIL CONSULTANCY SERVICES Case Studies WMC Retail Partners Plc are a leading specialist in understanding modern consumer demands, animating retail space and devising new ways of generating footfall. Drawing upon 800 years experience gained from operating traditional markets, we have reinvented the way in which these sites compete in an increasingly challenging retail environment, and now advise our partners on how to transform their locations and establish new income streams. The following pages highlight a selection of our recent projects, demonstrating the range and variety of work we undertake and the skills employed.
2 Chester Northgate Market Cheshire West and Chester Council 1. Original Consultancy Background and s Cheshire West and Chester Council (CWaC) are moving Chester Market into the new Northgate Development. WMC were engaged as part of this process to undertake the following consultancy work in preparation for the move: Create and implement an applications process for tenants to move across to the new market Produce a clear Lettings Strategy, target trader list, and brochure for potential new tenants Produce a trader consultation plan including FAQs, communications plan etc Audit of the stalls in the current market, as well as a review of the current operations, marketing and financial situation WMC worked closely with market traders and the Council to co-ordinate an application process which saw over 75% of traders successfully meet the criteria for inclusion in the new Chester Market. We also worked with local experts to produce a target trader list of approx. 225 high quality food, beverage and produce traders who are already trading successfully in the area, and appealing to the type of younger, dynamic demographic we are aiming to attract. By undertaking trader consultations including group trader meetings, design workshop and the distribution of FAQs, WMC helped ensure the dissemination of correct information, and engagement of traders with the relocation process. 2. Three Year Delivery Background and s Following on from our initial consultancy work, WMC were further engaged by CWaC to build on the foundations established during the initial phase and steer the project through to the opening of the new market. This includes: Preparing submissions for CPO inquiry and Secretary of State application Creating the short and long-term business plans for the new Chester Market Handling ongoing trader consultation and communication Recommending compensation strategy, lease/licence, rent and operating models Conducting consumer research leading to a branding and marketing strategy Continuing implementation of the Lettings Strategy up to and including negotiating signing of leases We are currently in the initial phases of this work.
3 Eagle Market, Derby Derby City Council / intu Background and s In 2015 WMC were commissioned by Derby City Council (DCC), as part of a consulting team including Colliers International, to prepare a comprehensive assessment of options for Derby s two indoor markets - Market Hall and the Eagle Market, situated within the intu shopping centre. At the time, there were high voids in both markets, they were both in need for refreshment, and there was a large maintenance backlog. However, WMC advised that it was wrong to assume there would not be a continued role for both markets. Instead, we recommended a more focused offer based on distinctiveness and quality. Further recommendations included: Greater variety of units Clear brand for each and position in the retail spectrum Improved eating and drinking offer Increased leisure offer DCC began negotiations with intu to hand over the ownership of Eagle Market and in turn, intu approached WMC to take over daily operations. This process was completed in March WMC have, together with intu, produced a phased plan which, over the next three years, will see: Traders consolidated towards the front end of the market, which will enhance their viability by increasing footfall Increased visibility, improved sight lines and a more welcoming arrival Increased daily onsite management including stall presentation, proactive trader recruitment and engagement The creation of a food court and events space. The commercialisation of part of the site for options including leisure offer, commercial events etc.
4 Mayfield Development ASK and Carillion Background and s As part of a consortium led by ASK and Carillion, WMC were asked to produce a report detailing options for activating the Mayfield development site, including retail, food & beverage, exhibitions and events. WMC produced a detailed, three-phase placemaking plan for each of the four areas on the site: 1. The large railway arches 2. The event space on top of the arches 3. Fairfield Street Sidings 4. Temperance Street For each of these areas, activities were phased to take the site from early development in 2017 through to it being fully established as a destination in The uses ranged from meanwhile/community use, local events and pop-up stalls in Phase 1, up to Phase 3 when, along with the transformation to the physical environment, there will have been a revolution in perception about Mayfield. By this stage the site will have been completely regenerated, providing a substantially improved visitor experience and retail offering, whilst retaining its rich history and colourful character. Each of the recommendations contained in the plan were accompanied by income projections, estimated costs and an outline Management Plan. Chester Northwich Cheshire West and Chester Council Background and s After working with WMC on the Northgate Market project, CWaC asked us to review their entire market portfolio, including Northwich and Winsford. Specifically for Northwich, we were asked to assess available options for the street market including preparing layout plans and income projections. For Winsford, we proposed and evaluated four options ranging from moving the market into a vacant retail unit, to creating an outdoor pop-up offer. Following the recommendations contained in our Northwich report, in April 2017 CWaC further commissioned WMC to develop the proposal for a new market in Northwich to RIBA Stage 1. The site will be a hub of independent retail and leisure encompassing designer makers, artisan hot food traders and events. This will take the form of a feasibility study and will comprise: A complete review of site information, in particular around access and visibility Exploration of site area/land acquisition options Identification of design approaches to maximise the new market s draw to visitors Exploration of options for a fixed structure which could house a number of uses including a range of food & beverage offers; entertainment space and specialist art or artisan stalls Identification of outside market options Identification of options for vehicular servicing arrangements Opportunities for sustainable approaches
5 New Watford Market Watford Borough Council Watford indoor market was open three days a week, housing 100 traders selling a range of day to day items. With the occupancy levels decreasing and wider strategic development plans for the town centre, Watford Borough Council (WBC) in 2009/10 decided to move the market to a new site, including shipping container units, under new management - WMC. With WMC managing the daily operations of the market, New Watford Market enjoys a more varied, curated trader mix, appealing to a broader customer base, as well increased opening hours. An integrated marketing plan has seen the launch of a dedicated website, increased engagement through social media, a cohesive approach to events linked in with WBC and targeted promotions aimed at local offices and students. Longer term plans to increase the food & beverage offer in the market are currently being explored. Urmston Feasibility report McGoff & Byrne WMC were asked to provide an overview of the current market provision in the Urmston area, and make recommendations as to the opportunities this presents. Following on from this, we provided an indicative Cost Analysis for a potential Urmston Market, including different Operating Models. Following a successful presentation of our findings and proposals, McGoff and Byrne have now asked us to move to Phase 2 of the project, in which we will work closer with the architect to establish design and layout of the new market hall.
6 Pop-up Village Lettings process Guildford Borough Council Guildford Borough Council are launching an events space in Guildford city centre in the summer of 2017, accompanied by complementary retail and food & beverage provision in 28 shipping containers. WMC have been asked to create and deliver a Lettings Strategy to realise this vision, including review of tenant mix, proactively targeting traders and conducting site visits and lease negotiations. After one week of being engaged, WMC had already generated a large amount of interest in the site and secured four units. Harrogate Market report Harrogate Borough Council WMC were engaged by Harrogate Borough Council to review their market offer and recommend improvements. We conducted stakeholder workshops with traders, council officers and local politicians to get a full understanding of the situation and how it affected four separate local authorities. We were able to identify over 100,000 in year one cost savings and potential areas of income growth. Some of the recommendations have already been actioned, (such as setting up a market Twitter account). The report is being presented to full council in late May 2017 when they will decide which of the larger recommendations to implement.
7 The Brunel Centre, Swindon FI Real Estate WMC were asked by FI to: Provide an overview of the current market and pop-up provision in the Swindon area Analyse the current demographics of the users of the Brunel Centre Explore potential uses for a new concept such as niche/ themed markets Present options for the future concept in illustrative form, which could be used in a public consultation and focus groups to gauge the views of local stakeholders WMC s research found that there was a demand for high-quality, locally sourced product in the Swindon area which was not being met with existing retail provision. The report recommended that The Brunel Centre trial a three-month high-end artisan market in an empty shop unit, complemented by regular themed event markets. These could be used to gauge local interest, build a database of suitable traders, conduct market research, and change perception of the centre and its offer. FI subsequently asked WMC to investigate further: Ideas and costs for sale and hire of moveable stalls Options for weekend themed markets Market Manager Job Spec Marketing and animation ideas FI are currently considering alternative options for trial activities. The Mall, Wood Green Capital and Regional C&R approached WMC for help with downsizing a successful market in one of their shopping centres in order to accommodate a new ALDI store. Specifically, WMC used their expertise to advise on local conditions (including rent benchmarking); concept drawings and suggested market layouts; trader FAQs; and a wider stakeholder communications plan. Haringey Council s long term Master Plan for Wood Green involves the potential of removing the shopping centre. Therefore the project is currently on hold while consultation and discussions between C&R and the Council take place.
8 Maldon Waterfront Project Colliers WMC were asked by Colliers to be part of a consortium assessing options for enhancement of the Hythe Quay and Promenade Park area of Maldon, in particular the use of Hythe Quay for commercial activities such as specialist markets. After assessing the current provision of markets in the Maldon region, WMC recommended a specialist popup street market which would revitalise the Quay area. We also gave case studies of similar markets and approached potential operators who expressed an interest in running one. Key Competencies The below matrix demonstrates WMC s experience in all stages of the market development process, from visioning through to operation: Project Place Making Business Planning Legal Framework Lettings Design & Build Stakeholder Engagment Trader Engagment Site Management Chester Northgate Eagle Market, Derby Mayfield Development 3 Chester Northwich New Watford Market Urmston Guildford Pop Up Village 3 Harrogate Market Brunel Centre, Swindon 3 The Mall, Wood Green 3 3 Maldon Waterfront Project 3
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