Sovereign Centros Shopping Centre Refurbishment11th November 2021
In today’s fast-moving retail environment where people are becoming ever more discerning about how and where they shop, it is essential that any assets remain attractive and welcoming.
All too quickly though, shopping centres can become dated or unappealing – which can have a negative effect on both footfall and dwell times.
That is why the Asset and Development Management team at Sovereign Centros continues to focus on the refurbishment of centres – both inside and outside.
Guy Beaumont, Sovereign Centros Director, explains: “We take a holistic approach to shopping centre asset management. Whilst many investors will rightly be focusing on tangible returns from their retail investment, we look at the entire customer experience and how we can improve it – thus making the asset more attractive to occupiers and customers in the long run.”
Take for example Telford. Sovereign Centros has been managing the centre since 2012. Over this time, it has supported its £50m development programme with updated signage and wayfinding, refurbished the malls, added modern lighting as well as improving the entrances. In addition, Sovereign Centros work with occupiers to encourage modern shop fit and shopfronts to compliment these works. Taken in conjunction with other projects taking place within the town, pre Covid, this resulted in significantly increased footfall to the centre.
Meanwhile in Glasgow, the Firm has also worked on improving the connection between the newly opened Vue Cinema development at the east end of the shopping centre with the recently refurbished Food Court at the western end. Says Asset & Development Manager Raife Gale: “We introduced an innovative new lighting design, mirror-clad bridges to ‘hide’ crossings above first floor and introduced pause points with improved seating accompanied by trees within the mall, to further improve the customer journey.”
Moving south, the Firm recently took over the iconic Metrocentre in Gateshead where it is preparing for the arrival of a premier anchor tenant, Harrods H Beauty and Champagne Bar, in 2022 by undertaking a full refurbishment of Town Square, which sits outside their unit. This will include new ceilings, lighting, flooring and the addition of real trees planted within the mall.
To achieve these results, the team has built excellent working relationships with Local Authorities as well as a range of specialists across the United Kingdom who can provide both the creativity and professionalism to deliver high quality improvements or alterations in live environments.
From putting in complex or sensitive planning applications, managing a professional team and a wide range of stakeholders and understanding how shoppers travel to and around shopping centres the asset management team has both the expertise and connections to ensure refurbishment projects add real and lasting value to retail assets.