Whiteley Shopping Leasing
the outdoor shopping experience
with a difference...
the perfect location and serves as town centre
great location and opportunity
Whiteley is located just one mile from Junction 9 on the M27.
It is located midway between Portsmouth and Southampton. Postcode: PO15 7PD
6,000 staff based at adjacent Solent Business Park
Please click on map to navigate your way around Whiteley and the surrounding areas
Click on the scheme plan to view our retailers
catchment of 1 million people
The catchment covers approximately 1m people
Whiteley appeals to a wide range of shoppers with the key demographic groups including Executive Wealth, Career Climbers and Successful Suburbs
KEY CATCHMENT STATS:
Total Catchment Population: 981,865
Average Drive Time: 17 minutes
Comparison Goods Spend Potential: £102.2 million
Catering Spend Potential: £27 million
• The largest UK retail scheme to have achieved a BREEAM excellent rating
• Winner of the 2014 Ace Award for customer service (Shopping Park category)
59 retail and leisure units
340,000 sq ft of open air retail and leisure ground floor space plus mezzanines
60,000 sq ft M&S retail anchor
40,000 sq ft new Cineworld leisure anchor
35,000 sq ft Tesco foodstore
6m estimated annual footfall
1,365 free parking spaces
Extended opening hours to 8pm
£87 average retail spend
46 visits per year on average
81 minutes average dwell time
91% of visitors spend on retail
68% of visitors are aged 18-54
£17 average catering spend
36% of visitors spend on catering
(Source: Exit Surveys 2015 - 16)
retailers and restaurants abundant
59 retailers and restaurants all trade fantastically well (details on request)
19% of Whiteley is dedicated to Food & Beverage as we understand the importance of combining retail and leisure
60,000 sq ft of new leisure space provides our shoppers with a full day shopping and leisure experience
£18m invested in the Whiteley leisure extension
9 screen Cineworld cinema and 6 new restaurants
9 screen cinema boasts 1,375 seats
Internal image of the new Five Guys restaurant
Five Guys restaurant is the cornerlink to the rest of the scheme
Internal image of the new Wildwood Kitchen
British Land’s strategy is focused on creating Places People Prefer
In retail, we focus on two core multi-let products under the umbrella of outstanding places for modern consumer lifestyles - places for people to shop, eat and be entertained.
Our multi-let assets account for over 70% of our retail portfolio and are broadly spread across the UK.
- 60% of the UK population live in the catchments of these schemes
- Annual footfall is 330m
- Visitors to our schemes spent over £5.4bn on-site in the last year
People visit our centres for more than just physical retail, for example
- 28% of our day-time shoppers use catering or leisure during their visit
- Our click & collect rate is 70% above the national average
We’ve recently developed our place-making framework to guide teams across our business to deliver Places People Prefer.
This framework consists of four pillars: Connect, Design, Enhance and Enliven. Each focuses on three key characteristics, as shown below for retail, and each applies to both regional and local assets to varying extents.
We have now completed the roll-out of property management of our retail portfolio to Broadgate Estates, our wholly owned management company, to ensure a consistently high quality experience across our portfolio.
We continue to invest heavily in the multi-let portfolio, improving the offer, environment and services to better fit modern consumer lifestyles, and our results show this is paying off. At 31 March 2016:
- Retail occupancy was at 99%
- Footfall was up 3.0%, 440 bps ahead of the market
- Like for like in-store sales had increased 2.4%, 200 bps ahead of the market
- Average rent to sales was only 10%
Our data gives us superior understanding of consumer behaviour, and includes:
We are proud to have been awarded the 2016 Queen's Award for Enterprise for Sustainable Development, the UK’s highest accolade for business success. We are the first real estate business to win this prestigious award.
The highlights of our retail sustainability programme in the last year include:
Our retail team
We have transformed our team in the last three years to enable the changes set out. Every role in our senior management team has changed in the last three years, with roles now aligned around our strategic focus areas.
We restructured our asset management team into regional sub-teams to better align with occupier portfolios and to allow us to focus on the dynamic of those catchments with a consumer-led approach.
Asset management by region
Whiteley is owned by The Whiteley Co-Ownership Trust, which is a JV between Fareham Property Unit Trust (a Jersey domiciled property unit trust wholly owned by the British Land Group) and Universities Superannuation Scheme Limited. The JV is incorporated in Great Britain.
About Universities Superannuation Scheme
Universities Superannuation Scheme was established in 1975 as the principal defined benefit pension scheme for universities and other higher education institutions in the UK. It has over 330,000 scheme members across nearly 400 institutions and is the largest private pension scheme in the UK, with total fund assets of approximately £48 billion, of which property assets total approximately £2.6bn.
The scheme's trustee is Universities Superannuation Scheme Limited, a corporate trustee which provides scheme management and trusteeship from its offices based in Liverpool and London. The trustee company delegates implementation of its investment strategy to a wholly-owned investment management subsidiary company - USS Investment Management Limited - which provides both investment management and advisory services.
USS’s property portfolio is part of an overall strategy to develop private market investment opportunities that fit well with the scheme’s long-term pension liabilities.
For more information on Universities Superannuation Scheme please go to www.uss.co.uk.
We think differently
Our strategy is focused on creating Places People Prefer, with customer orientation top of mind. In retail, we focus on two multi-let products under the umbrella of outstanding places for modern consumer lifestyles.
It's not just about shopping
- 28% of visitors use catering and / or leisure
- These visitors spend 24% more on retail than non-users
- 185 events held across the portfolio last year
- Our local centres have c.50% more C&C activity than national average
Scale: 60% UK population coverage with 330m total footfall
We are placemakers
Our placemaking framework
We have an in-depth understanding of consumers
We invest heavily & this pays off
- Footfall up 0.9%, 340 bps ahead of the market
- Average rent to sales of only 10%
- Annualised spend up 7%
- Consumer NPS up 10 ppts
"Some of the changes BL is making, are real cutting edge stuff. Their investment in their assets is spot on."
Timothy Melgund, CEO, Paperchase
We offer you a value-add service
- One single managing agent across our portfolio, Broadgate Estates
- Data, marketing plans & regular updates communicated to occupiers
- Dedicated occupier relationship management role
- Regular customer satisfaction survey of our occupiers; NPS up 14ppts
We understand the True Value of Stores
We recently launched a White Paper, in partnership with GlobalData:
Key findings include:
- 89% of UK retail sales touch a physical store, including click & collect and online sales browsed in store, which boost UK physical sales by +9%
- Under 35 year olds and Londoners use stores the most
We create sustainable places, looking after your brand & your customers
We were the first real estate business to be awarded the 2016 Queen's Awards for Enterprise for Sustainable Development
The BL retail team
The retail team has been restructured with specialist Asset Management and Leasing teams, and the AM team into regional sub-teams to better align with occupier portfolios & allow us to focus on the dynamic of those catchments with a consumer-led approach.
The retail portfolio