New lettings plan posted last week:
http://www.intugroup.co.uk/media/80809/ ... -15-v2.pdfSo what's new?
- Leia, the lingerie retailer is closing down. But they are in negotiations with another retailer.
- Kamigata/Aveda is closed - and the unit is available.
- Jack and Jones / Vera Moda is closing - as part of a general closure plan in the UK I believe. Unit available.
- Domo is being replaced, with the unit in solicitors hands
- As is the former shoe zone unit (they moved to the modelzone unit)
- Former Thomas Cook, and Holland and Barratt, Phones 4u and Baci units are under negotiations
- And many of the units upstairs on the Grand Arcade are too - including DV8, GStar, the MSU that's been empty for years, and that other lingerie shop. Interesting to see if any of these come to fruition.
- But no takers for the former Gilly Hicks or the MSU next to John Lewis that has also been empty since the start.
I think there has been some interesting patterns in recent closures:
- Seems the lingerie boom is over - only Boux Avenue survive. Now the recession Is over, seems that women are finding other things to spend their money (perhaps because their menfolk are too!).
- Confirmation that Cardiff is not great for standalone midmarket branded Fashion - especially that which tries to particularly appeal to men. We had all the closures from the original openings (Fenchurch, Lambretta, Quiksilver, Henleys...) and now G Star, Jack and Jones etc
- John Lewis just isn't the crowd puller they hoped. I take a look at weekly sales and it appears Cardiff just isn't pulling its weight. They don't publish the amount sold, but the stores are ranked according to cash changes in takings. And Those rankings seem to suggest the Cardiff store is only taking something like half that which stores in places like Cribbs, Kingston, and High Wycombe are.. and perhaps two thirds what something like Cambridge is. That's despite Cardiff being the largest store outside London. And I think that is being reflected by poor lettings performance at the John Lewis end of the centre - particularly upstairs.
If retailer demand was stronger, something could be done to make upstairs the focus for women's fashion - with Debenhams women's department at one end, and John Lewis at the other. As it is, it is kind of a hotch potch.