MAPIC: Tenant mix and big brands key to success of secondary malls

A diverse range of shops and the presence of big-brand retailers such as Primark, Apple and Zara are vital for a secondary shopping centre to be successful, according to a new study by global property adviser CBRE.

CBRE analysed a range of 'good secondary shopping centres' across Europe to identify the most important factors that contribute to a centre’s success. The research reveals that the quality of tenant mix is by far the most important factor ahead of good car access/parking and the ability to draw from a substantial catchment.

Managers were asked to identify the three most sought-after retailers in their shopping centres, defined as those generating the biggest footfall. Regardless of size or standing in the retail hierarchy, each centre boasts key ‘anchors’ such as Zara, Primark or H&M. This demonstrates that many ‘high profile’ retailers have wide ranging store portfolios that include both prime and secondary locations.

Good car access and parking provision is rated highly by managers regardless of the size of the shopping centre or its location.

The research shows that good secondary shopping centres operate in all types of location: neighbourhood, district, sub-regional and regional. While the size of the catchment is considered to be an important factor, it is the ability to capture spending from within this catchment that is crucial. ‘Good’ secondary shopping centres also tend to have wealthier customers, the research found.

The location of a shopping centre within its urban environment is rated slightly more highly in the UK and The Netherlands where having a good location in a town or city is a prerequisite. Italian shopping centres tend to be located in suburban or out-of-town locations which explains the relatively low rating. Good public transport is clearly an important success factor for some centres.

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