| 02/03/2010 | Brighter horizon predicted at retail property forum   Kick-starting the BCSC Shopping Centre Management Conference sessions today (Tuesday 2 March) in Bournemouth, keynote speakers aired caution for the coming months, but confirmed that the retail property industry can look forward to a brighter horizon in 2011. Professor Joshua Bamfield, Director of the Centre for Retail Research, and Helen Gordon, Property Director at Legal & General Life Fund, commenced proceedings at the Bournemouth International Centre, where nearly 500 shopping centre managers and top line staff from across the UK retail property industry have gathered for the annual event. Bamfield predicted that while sales value growth in 2010 is set to be slow and steady - with a 1.9 per cent growth expected after September 2010, rates will accelerate in 2011, reaching 3.4 per cent for the year. He also emphasised that with personal savings at a high and activity in the housing market improving, that the UK is laying the foundations for a good Christmas 2010. Helen Gordon echoed these thoughts - referring to promising like for like retail sales figures, low interest rates, and rising footfall figures. However, she also added a note of caution stating that we need to use our imagination, explore our catchment areas and really understand what it is that shoppers want from their local shopping centres. At Legal and General Life Fund, they are focusing much more on the changing physical environment of centres. It is those centres that embrace this change and engage with their local community that will survive. Edward Cooke, BCSC Executive Director said: “It is great to hear there are some positive signs in the retail market, which is positive news for the retail property industry. This improvement has been driven by a detailed understanding of consumer trends, flexibility and transparency from landlords in dealing with their retailers, and a clear asset management strategy. For centres to continue to drive improved performance there needs to be continued collaboration between owners, lenders, occupiers, local council and other local stakeholders.” This year’s BCSC SCM Conference is being held at the Bournemouth International Centre, running this week 1-3 March 2010. The theme, Brighter Horizons, is set to stimulate and educate delegates to help them thrive as the market recovers. | back to top