This summary provides information about a property brochure for Riverside Quarter in 3 sentences:
The brochure provides details about Riverside Quarter, a development of shared ownership apartments located in Putney, London. It includes floor plans, specifications for the kitchens and bathrooms, and information about the local amenities like shops, restaurants, and transportation. The document advertises the exclusive collection of apartments and highlights features like the location along the River Thames.
[Online Business Case Competition 2020] Suncream TeamBich Nguyen
Business Case Study Competition is a nationwide online business case competition organized by Company Insider, patronized by The Trainee Club, attracted more than 300 participating teams.
Our team of 2 members has to make a deep analysis of the business situation and propose solutions to boost revenue & sales.
Looking forward to receiving your feedback.
E-contest 2020 is a citywide competition hosted by YEC Club, attracted more than 300 participating teams. This season provides the theme of trade marketing.
After 3 rounds, our team of 3 members has to propose a trade marketing plan for developing Oreo's sale channels to gain more market share.
Looking forward to receiving your feedback.
Obstacles:
• Turning customer data into usable insights.
• Effort of implementing new technology.
• Integrating with other platforms.
• Integrating channels, e.g., ecommerce, in store, marketplaces
• Store issues: competition, margin compression, store capacity
TrustRobin...app health education....https://youtu.be/57ghR94SYXM
[Online Business Case Competition 2020] Suncream TeamBich Nguyen
Business Case Study Competition is a nationwide online business case competition organized by Company Insider, patronized by The Trainee Club, attracted more than 300 participating teams.
Our team of 2 members has to make a deep analysis of the business situation and propose solutions to boost revenue & sales.
Looking forward to receiving your feedback.
E-contest 2020 is a citywide competition hosted by YEC Club, attracted more than 300 participating teams. This season provides the theme of trade marketing.
After 3 rounds, our team of 3 members has to propose a trade marketing plan for developing Oreo's sale channels to gain more market share.
Looking forward to receiving your feedback.
Obstacles:
• Turning customer data into usable insights.
• Effort of implementing new technology.
• Integrating with other platforms.
• Integrating channels, e.g., ecommerce, in store, marketplaces
• Store issues: competition, margin compression, store capacity
TrustRobin...app health education....https://youtu.be/57ghR94SYXM
Le magasin du futur - Keynote Zappos E-Commerce Paris 2013 par Dominique Piot...Petit Web
Qui ? Dominique Piotet, Pdg de Rebellion Lab et architecte du magasin du futur pour Zappos, qui ouvrira ses portes en janvier 2015 à Las Vegas.
Quoi ? Un keynote lors du salon E-commerce Paris 2013, qui donne un avant gout du premier magasin physique du leader américain de la vente de chaussures, filiale d'Amazon.
Estratégias de atribuição de mídia ON para OFF com visão única do cliente ger...E-Commerce Brasil
Benjamin Thompson - Head of Digital Transformation, Endeavour Drinks Group falou sobre Estratégias de atribuição de mídia ON para OFF com visão única do cliente gerando mais vendas durante o Fórum E-Commerce Brasil 2019.
Branding in Omni-Channel Environment: Fashion Industry of BangladeshAhsanul Kabir Palash
Omni channel marketing offers marketers and retailers a holistic approach to reaching consumers with a more integrated message, through any channel and at any point in their path to purchase.
Interaction with brands has become nonlinear and shaped by many interactions across several touch points. The interconnectivity between these touch points is called omni-channel.
Grocery online: experiências omnicanal integradas em varejo multi-formatoE-Commerce Brasil
Pedro Santos - Head de E-Commerce & Mobile, Supermercado Continente falou sobre Grocery online: experiências omnicanal integradas em varejo multi-formato durante o Fórum E-Commerce Brasil 2019.
10 Retailers Win 2014 Channel Innovation Awards
For the fourth year, Retail TouchPoints is proud to present the Channel Innovation Awards. This award program is designed to honor retailers who are achieving cross-channel success in today’s challenging retail environment.
This year’s 10 winners run the gamut of industry segments, from apparel and toys to wine and home improvement products. They are both U.S. and internationally based retail companies. Most of the winners are selling their products via both brick-and-mortar and e-Commerce web sites, in addition to mobile web sites and other channels.
The 2014 winners’ latest efforts are centered on improving the business through targeted channel strategies. Those strategies feature in-store mobile and digital technology innovations; social media efforts; personalization programs and more. All winners are successfully integrating the benefits of successful channel marketing and services to their customers, and delivering impressive results.
2014 Retail TouchPoints Channel Innovation Award Winners include:
Platinum winners:
-Stage Stores
-Clarks Footwear
Gold winners:
-bebe
-Build.com
Silver winners:
-Toys R Us Canada
-Kidrobot
-Sears
Bronze winners:
-B&H Photo
-Wine Enthusiast
-Country Club Prep
How to Design for an Omni-Channel Shopping ExperienceUserZoom
According to the IDC Retail Insights report, Omni-Channel shoppers will spend 15% to 30% more than Multi-Channel shoppers and they are more likely to be your brand’s influencers and Net Promoter advocates. It is now evident, that brands who make the customer experience omniscient, i.e. continues and universal, will lead the marketplace.
So how do you design for an Omni-Channel shopping experience? View a webinar on-demand with Sean Van Tyne, author of The Customer Experience Revolution, to learn how to craft a uniform experience across channels and touch points.
Twitter Hashtag: #uzwebinar
In this 60-min webinar on-demand you will learn:
-What Omni-Channels are
-Who Omni-Channel Shoppers are
-What a journey map and a service blueprint is
-How to create an Omni-Channel
OmniChannel Retail Best Practices for Brands and RetailersStephany Gochuico
This research work provides retailers practical insights, real-world strategies, solutions, and recommendations to improve customer experience, increase business results and maintain competitive advantage in the retail industry.
CONTENTS
1. Why and what is OmniChannel Retail?
2. What are the consumer behaviours?
3. Who are the Best-in-Class OmniChannel Retailers?
4. What are the OmniChannel Challenges in France?
5. What are the OmniChannel Best Practices?
6. How to deal with Showroomers?
7. How to be successful in implementing OmniChannel?
Bricks + Mobile 2011 - Terrified Retailers Take ControlRemodista
The mobile in-store revolution: If Amazon is taking my customers what I can do about it? What’s working, what’s just hype, and what is coming?
•In this session we will cover how the mobile phone is being used today by consumers to aid their in-store purchasing process.
•We will discuss the in-store research renegades who are using bar code scanners and google search to find better deals while they’re in the store. Is all this gaming and check-in technology hype or valuable?
•How is mobile NFC technology going to impact the checkout process?
•Where does mCommerce fit into the store environment? Is anyone going to scan a QR code while standing in a store
Back The Future: A Retail Transformation StrategyCapgemini
Julian Burnett Chief Information Officer - House of Fraser
The U.K. has given rise to some of the most powerful, long-lived and envied retail brands. But many must now strive to survive against the formidable pressure of market entrants – without the drag of aged stores, processes and systems.
Through technology enabled change and a refocusing upon the fundamentals of great retailing, the strong continue to hold their own and drive a differentiated proposition, leveraging insight to create unique experiences for customers. As House of Fraser embarks upon its own retail transformation, Julian Burnett, CIO and Capgemini alumni, reflects upon the priorities, challenges and approaches of the House of
Fraser Business Technology team and the central role that enterprise architecture plays in helping achieve business goals.
Go-to browsing channels vary
*(38%) start on Amazon
* (35%) search engines
* (21%) brand or retaile web sites
* (6%) e-Commerce marketplaces, such as eBay and Etsy
Le magasin du futur - Keynote Zappos E-Commerce Paris 2013 par Dominique Piot...Petit Web
Qui ? Dominique Piotet, Pdg de Rebellion Lab et architecte du magasin du futur pour Zappos, qui ouvrira ses portes en janvier 2015 à Las Vegas.
Quoi ? Un keynote lors du salon E-commerce Paris 2013, qui donne un avant gout du premier magasin physique du leader américain de la vente de chaussures, filiale d'Amazon.
Estratégias de atribuição de mídia ON para OFF com visão única do cliente ger...E-Commerce Brasil
Benjamin Thompson - Head of Digital Transformation, Endeavour Drinks Group falou sobre Estratégias de atribuição de mídia ON para OFF com visão única do cliente gerando mais vendas durante o Fórum E-Commerce Brasil 2019.
Branding in Omni-Channel Environment: Fashion Industry of BangladeshAhsanul Kabir Palash
Omni channel marketing offers marketers and retailers a holistic approach to reaching consumers with a more integrated message, through any channel and at any point in their path to purchase.
Interaction with brands has become nonlinear and shaped by many interactions across several touch points. The interconnectivity between these touch points is called omni-channel.
Grocery online: experiências omnicanal integradas em varejo multi-formatoE-Commerce Brasil
Pedro Santos - Head de E-Commerce & Mobile, Supermercado Continente falou sobre Grocery online: experiências omnicanal integradas em varejo multi-formato durante o Fórum E-Commerce Brasil 2019.
10 Retailers Win 2014 Channel Innovation Awards
For the fourth year, Retail TouchPoints is proud to present the Channel Innovation Awards. This award program is designed to honor retailers who are achieving cross-channel success in today’s challenging retail environment.
This year’s 10 winners run the gamut of industry segments, from apparel and toys to wine and home improvement products. They are both U.S. and internationally based retail companies. Most of the winners are selling their products via both brick-and-mortar and e-Commerce web sites, in addition to mobile web sites and other channels.
The 2014 winners’ latest efforts are centered on improving the business through targeted channel strategies. Those strategies feature in-store mobile and digital technology innovations; social media efforts; personalization programs and more. All winners are successfully integrating the benefits of successful channel marketing and services to their customers, and delivering impressive results.
2014 Retail TouchPoints Channel Innovation Award Winners include:
Platinum winners:
-Stage Stores
-Clarks Footwear
Gold winners:
-bebe
-Build.com
Silver winners:
-Toys R Us Canada
-Kidrobot
-Sears
Bronze winners:
-B&H Photo
-Wine Enthusiast
-Country Club Prep
How to Design for an Omni-Channel Shopping ExperienceUserZoom
According to the IDC Retail Insights report, Omni-Channel shoppers will spend 15% to 30% more than Multi-Channel shoppers and they are more likely to be your brand’s influencers and Net Promoter advocates. It is now evident, that brands who make the customer experience omniscient, i.e. continues and universal, will lead the marketplace.
So how do you design for an Omni-Channel shopping experience? View a webinar on-demand with Sean Van Tyne, author of The Customer Experience Revolution, to learn how to craft a uniform experience across channels and touch points.
Twitter Hashtag: #uzwebinar
In this 60-min webinar on-demand you will learn:
-What Omni-Channels are
-Who Omni-Channel Shoppers are
-What a journey map and a service blueprint is
-How to create an Omni-Channel
OmniChannel Retail Best Practices for Brands and RetailersStephany Gochuico
This research work provides retailers practical insights, real-world strategies, solutions, and recommendations to improve customer experience, increase business results and maintain competitive advantage in the retail industry.
CONTENTS
1. Why and what is OmniChannel Retail?
2. What are the consumer behaviours?
3. Who are the Best-in-Class OmniChannel Retailers?
4. What are the OmniChannel Challenges in France?
5. What are the OmniChannel Best Practices?
6. How to deal with Showroomers?
7. How to be successful in implementing OmniChannel?
Bricks + Mobile 2011 - Terrified Retailers Take ControlRemodista
The mobile in-store revolution: If Amazon is taking my customers what I can do about it? What’s working, what’s just hype, and what is coming?
•In this session we will cover how the mobile phone is being used today by consumers to aid their in-store purchasing process.
•We will discuss the in-store research renegades who are using bar code scanners and google search to find better deals while they’re in the store. Is all this gaming and check-in technology hype or valuable?
•How is mobile NFC technology going to impact the checkout process?
•Where does mCommerce fit into the store environment? Is anyone going to scan a QR code while standing in a store
Back The Future: A Retail Transformation StrategyCapgemini
Julian Burnett Chief Information Officer - House of Fraser
The U.K. has given rise to some of the most powerful, long-lived and envied retail brands. But many must now strive to survive against the formidable pressure of market entrants – without the drag of aged stores, processes and systems.
Through technology enabled change and a refocusing upon the fundamentals of great retailing, the strong continue to hold their own and drive a differentiated proposition, leveraging insight to create unique experiences for customers. As House of Fraser embarks upon its own retail transformation, Julian Burnett, CIO and Capgemini alumni, reflects upon the priorities, challenges and approaches of the House of
Fraser Business Technology team and the central role that enterprise architecture plays in helping achieve business goals.
Go-to browsing channels vary
*(38%) start on Amazon
* (35%) search engines
* (21%) brand or retaile web sites
* (6%) e-Commerce marketplaces, such as eBay and Etsy
The need for quality environments
and fixture programs has never been greater for the
outlet channel. Meeting the customers’ expectations
relies on understanding the influencers and trends in this
evolving market. Here are four trends in the evolution
of the outlet retail environment, as well as, six areas of
focus that will drive success for branded retail in the
outlet channel
The short and long term challenges with top-line growth during a crisis demand different ways of working and thinking from the everyday.
In this short webinar we will look at the levers that might help rapidly adapt your retail business to changing market situations – with insights and inspiration from actual retail cases – and we will discuss possible initiatives that can grow your retail top line.
Creating loyal omnichannel customers is critical. Retailers who embrace the customer-centric trend and build better shopping experiences will leap ahead of the competition.
Building a blended customer experience isn't easy. Need some help getting started? Check out our latest in retail trend research.
Informes PwC - Encuesta Total Retail GlobalPwC España
El informe "Hacia un modelo de Total Retail", elaborado por PwC, analiza las expectativas y hábitos de consumo del comprador online, a partir de 15.000 entrevistas a compradores digitales de todo el mundo, y las implicaciones para las compañías del sector de distribución y consumo en los próximos años.
Informe de PwC sobre las expectativas y hábitos de consumo del comprador onlineMaría Bretón Gallego
El informe Hacia un modelo de ‘Total Retail’, elaborado por PwC, analiza las expectativas y hábitos de consumo del comprador online, a partir de 15.000 entrevistas a compradores digitales de todo el mundo, y las implicaciones para las compañías del sector de distribución y consumo en los próximos años.
Internet y las nuevas tecnologías han multiplicado la influencia del consumidor, pero, ¿qué les están pidiendo a las marcas? Las nuevas expectativas y hábitos del consumidor digital tendrán importantes implicaciones para las compañías del sector en los próximos años
Adaptation helps retailers and property owners meet changing consumer needs and expectations. An article in the Property Institute's Property Professional Magazine by First Retail Group's Managing Director, Chris Wilkinson.
2021 Omnichannel Guide: A Four-Pillar Approach to Holistic Commerce Successrun_frictionless
An omnichannel approach isn’t just another way of saying that you sell on multiple marketplaces. It’s about delivering a consistent brand experience that transcends specific channels to meet customers where they are and build a personal connection, as well as optimizing your business for the future through channel diversification and comprehensive integration of your data and systems.
https://runfrictionless.com/b2b-white-paper-service/
Some important notes about retail industry such as:
Strategic Levers of Retailing,
Functions Performed by Retailers,
Types of Retailers,
Customers Perception and Buying Behavior,
Merchandise Management,
Issues with Merchandise Management.
This report highlights the increasingly competitive nature
of the retail market, identifying changing consumer
behaviour as a key driver behind this. Consumers today
own much more ‘stuff’ than previous generations, making
it more difficult to persuade them to purchase additional
products. Consumers are also time-pressured, so convenience
and speed has taken priority.
All these factors, combined with supply side considerations - more intense focus on price, a deflationary retail environment and even greater choice - means retail growth will be much harder to achieve over the next ten years. For this reason, it is vital that retailers secure customer loyalty.
Understanding consumers’ behaviour, wants and needs is essential to build this loyalty. This isn’t just about knowing what customers want to buy, but truly understanding how and where they want to buy, their motivations and what they expect from their overall shopping experience.
This also means that retailers need to re-evaluate how to reach customers and reappraise traditional marketing techniques – many of which are still relevant, but are less impactful and influential in today’s environment. This deeper understanding will ultimately help retailers secure loyalty in the era of the unfaithful consumer.
1. Riverside quarter
property brochure
February Agency
Using signed off concept designs
from creative team set type,
placed images and produced layouts
adhering to style guidelines.
Prepared approved version for print.
Above: Computer generated
image of Riverside Quarter
Below: The River Thames
Left: Duke’s Head Pub, Putney
4 Riverside Quarter
The local area offers shops of all types
and sizes to meet your every need; rarely
will you find such a range of shopping
choices in such close proximity.
For day-to-day essentials, Hudson’s on the ground floor of
adjacent Milliners House is the most convenient place to shop.
Southside Shopping Centre is a 14 minute walk away (1.2km),
with a choice of major supermarket stores, a comprehensive
array of shops and a wide choice of food and drink outlets.
Southside also houses a 14-screen Cineworld multiplex
cinema and a Virgin Active Health Club. The complex is
developing and growing and is poised to become one
of the most significant retail venues in south west London.
The Exchange Shopping Centre is just 1.4km to the west on
Putney High Street, offering a unique mix of famous brand
names and independent retail stores, as well as a number
of relaxing cafes and restaurants.
RIVERSIDE
LIVING
2. Riverside quarter
property brochure
SPECIFICATION
Kitchen
apartments except Types 101 & 102)
Appliances
extract hood
combination (separate fridge and freezer
to Type 209)
Bathroom
(1 Eastfields Avenue)
Eastfields Avenue)
Hallway and Living Areas
kitchen, living room and hallway
heating with zone controls
Internal doors
and bedrooms*
and bedrooms
battery backup
General
all apartments
common areas
Parking
select apartments
at Riverside Quarter will not be eligible for a
Wandsworth Council car parking permit
*Purchaser’s responsibility to obtain decoding
equipment and subscription services.
Caveat at bottom:
The above specification is a general guide
only and may be subject to change. Please
contact a member of the Sales Team for
specific details.
FLOORPLANS
Riverside Quarter 15
An exclusive collection of Shared Ownership apartments at Riverside Quarter.
3. Property brochure
CBRE
Produced spreads for a property
magazine called Shopfront aimed at the retail
sector. Sourced imagery, created charts and
took direction from the marketing manager with
regards to styling. Fast layout skills were essential
due to a tight deadline.
21
1Notatallimportant
4Veryimportant
2
N
ot ver
y
im
portant
3
Fairly important
Price
Cleanliness
Convenience
Security
Parking
Free parking
Range of retailers
Information points/signage
Specific retailers
Range of services
Being covered
Presence of independent shops
Presence of a hypermarket/supermarket
Environmental business practices
Size of shops
Good place to meet friends/spend time
Presence of a department store
Presence of one or two large fashion shops
Extensive range of catering facilities
Coffee shops
Free Wifi
Good quality restaurants
Entertainment facilities
Hosting of events
CBRE | SHOPFRONT 2014/15CBRE | SHOPFRONT 2014/1520
AS SHOPPING CENTRES STRIVE TO DEVELOP THEIR
‘EXPERIENTIAL’ OFFER, ALBERT HOOGLAND, EMEA HEAD
OF SHOPPING CENTRE MANAGEMENT, ARGUES THAT
EFFECTIVELY MANAGING ‘BASICS’ LIKE CLEANLINESS AND
SAFETY IS STILL CRUCIAL TO SUCCESS.
WE ASKED: “HOW IMPORTANT ARE THE FOLLOWING
FACTORS IN A NON-FOOD SHOPPING TRIP?”
THEY SAID:
Managing a shopping centre is a balancing act – I’m sure some
would call it a high wire act. There’s a need to balance the varied
and often competing needs of tenants, as well as the different
tastes and requirements of various consumer groups. More
recently, shopping centre managers have also felt the need to
strike a balance between getting the basics right and investing
in ways to differentiate their schemes from both rival shopping
destinations and the lure of the internet.
In doing so, is there a risk that attention paid to the basics is
pushed aside in the headlong charge to provide new and better
experiences? Any schemes tempted to let this happen would do
well to read through a copy of CBRE’s survey – How Consumers
Shop 2014 – which questioned 21,000 consumers across 21
countries and encompasses three million data points.
When these consumers were asked what motivates them to
visit a shopping centre, it was the basics – price, convenience,
cleanliness and security – that came out top; with the softer, more
experiential elements further down the list.
This doesn’t mean I’m suggesting that atmosphere, experience
and entertainment should be ignored: once again it comes back
to balance. In my view, if you can get your basics perfectly in
order, in the most efficient and cost-effective way, you will have
more resources (both time and financial) available to take your
scheme to the next level in terms of creating consumer experience
and connecting with your retailers in a more empathetic and
cooperative way.
The challenge is how to go about doing that, and this starts with
understanding the basics. For example, what is clean? More
specifically, how do my customers and my retailers perceive clean?
It’s not rocket science to understand that customers’ perceptions
on cleanliness in a prime, luxury-oriented mall are different from
ALBERT HOOGLAND
t: +31 30 634 80 35
e: albert.hoogland@cbre.com
CREATE YOUR
EXPERIENCE…
BUT DON’T
FORGET THE BASICS
Note: Excludes ‘don’t know’
Source: How Consumers Shop 2014, CBRE
those of a neighbourhood centre in a small town. There are plenty
of points in between, though, and only by understanding where
your scheme belongs on this spectrum and working closely with
your cleaning contractor to fulfil these requirements economically
will you be able to ensure you’ve got the balance right. The same
goes for other elements such as security.
AN ANALYTICAL APPROACH TO SHOPPING
CENTRE MANAGEMENT
With a portfolio of shopping centres under management that now
numbers more than 230 schemes in 21 countries, CBRE’s EMEA
Shopping Centre Management team has plenty of experience in
striking the right balance to get the best out of an asset.
More recently, we’ve begun to back that experience with a
more analytical approach to the task. We’ve partnered with
two specialist consultancies, Cyber and Locatus, to create the
Shopping Centre Quality Monitor, a unique product for assessing
and comparing the quality of individual shopping centres.
Quality is assessed on the basis of three key elements: Basics,
Service and Experience. Each has 65 measurable and trackable
components, providing a much more detailed picture of the
strengths and weaknesses of a scheme than has hitherto been
possible.
Working with our partners we deployed this methodology among
a group of some 100 shopping centres in the Netherlands two
years ago. We are now about to repeat the exercise, so we can
track the progress made since that first assessment. We are also
piloting the Quality Monitor in selected Central and Eastern
European countries, with a view to eventually extending it across
our entire European portfolio.
IMPROVING THE LANDLORD/TENANT
RELATIONSHIP IS KEY
It’s one thing to know where you need to improve, quite another
to actually achieve those improvements. And here a lot of the
challenge comes back to retailer relationships. Although things
have improved in recent years, the landlord/tenant relationship
can still be too adversarial at times. As managers, we must strive
ever harder to convince retail groups about the mutual benefits
that can be derived from working more closely together. It’s easy
to say ‘but they just won’t listen’ – we must ask ourselves what we
can change in our own attitudes to get the retailers’ attention.
In this omnichannel world the big brands don’t care what journey
the consumer takes to get to them – via physical store, their
laptop or their smartphone – but they do want that revenue. When
cooperation between the shopping centre and retailer is good,
the centre can play a role in that omnichannel customer journey,
perhaps by installing click and collect points with adjoining
changing rooms, for example?
This is something the shopping centre can offer which the high
street retail environment can’t – an advantage we should be
careful not to neglect.
4. Property brochure
22 23CBRE | SHOPFRONT 2014/15 CBRE | SHOPFRONT 2014/15
CONFIDENCE IS RETURNING TO THE SPANISH RETAIL
MARKET AS INVESTORS SCRAMBLE FOR THE BEST ASSETS
AMID RECORD TRANSACTION VOLUMES.
ALEX BARBANY
t: +34 93 444 7711
e: alex.barbany@cbre.com
After three years of painful recession, the Spanish economy
has finally returned to growth in 2014, with a similarly positive
performance expected to continue into 2015. A feeling that
there’s now light at the end of the tunnel has truly taken hold,
putting smiles back on the faces of many.
Even stubbornly high (above 20%) unemployment levels have
failed to dampen consumer confidence, which is back to its
pre-crisis levels after increasing substantially during the past 12
months. This is having its biggest effect in the wealthiest regions,
SPAIN
where the money didn’t really disappear but spending was held
back by a lack of confidence. Elsewhere, though, it may still take
some time before the macroeconomic improvements filter through
to the retail market.
As a result, we are seeing an increasing polarisation of trading
performance between the dominant regional shopping centres,
where sales are growing by double-digits, and the rest, where
sales are flat or falling.
INVESTORS FLOCK TO SPAIN
The most significant retail story of the year is undoubtedly the
flood of investment capital into the Spanish shopping centre
segment. At the time of going to press investment volumes had
already reached €1.7 billion and by the end of 2014 that figure
could well have climbed to between €2 and €2.5 billion. For
comparison, the previous record volume was €2 billion achieved
in 2007, on the eve of the financial crisis.
Among the principal buyers are the newly-created Socimis
(equivalent to REITS) such as MERLIN and Lar, together with fund
managers, notably CBRE Global Investors and TIAA Henderson,
and private equity investors including Oaktree and Incus Capital
among others.
Their enthusiasm for the best assets has seen yield compression
of around 125-150 bps during the last 12 months, with prime
shopping centres now being traded at net initial yields of around
5.5%-5.75%, while prime high street properties yield around
4.5%. Looking ahead, we predict that values of secondary high
street assets will rise during the next couple of years, as investors
switch their attention to this part of the market due to the total lack
of investment opportunities on the prime streets.
The surging investment market is also having a major knock-on
effect in the development area, in two distinct ways. The first is an
upturn in refurbishments and extensions, as new owners free up
funds to asset manage their new properties, many of which have
been starved of investment in recent years due to the financial
constraints in the market. The second is a new wave of greenfield
developments by the retail specialists, who have been crowded
out of the investment market by the pure financial players.
Notable pipeline schemes that underline this trend include
Carrefour Property’s 60,000 sq m S’Estada in Palma de Mallorca,
General de Galerias Comerciales’ c.90,000 sq m Parque
Nevada in Granada, plus four projects by Intu in Malaga, Vigo,
Valencia and Mallorca, each around 200,000 sq m
Unibail-Rodamco, meanwhile, has two major extension/
refurbishments projects in Barcelona.
RETAILERS ALSO FLOCKING IN
Spain never really went off the radars of the international retailers,
but 2014 has seen a significant upturn in new brands arriving.
This is particularly apparent in the aspirational/luxury segment,
where sales are underpinned by the millions of tourists who flock
to Madrid and Barcelona. New arrivals here include Longchamp,
Canali, Brunello Cucinelli, Jo Malone, Dior, Twin-Set and Coach.
In another significant move, the Saudi Arabian franchise specialist
Fawaz AlHokair has entered the Spanish market via a takeover of
the domestic group Blanco. As well as promising to revitalise this
brand, it seems likely that Fawaz AlHokair will bring some of the
many other brands it controls to the market in the coming years.
Established retailers, particularly in the fashion segment, are
seeking to rationalise their estates into fewer numbers of larger
stores. Zara, for example is now looking for a minimum of
2,500 sq m, Mango is after flagships of around 2,000 sq m,
while H&M seeks 3,000 sq m units in shopping centres and
anything up to 7,000 sq m on high streets, the latter necessitating
multiple floors. These groups are using their additional space to
show off other lines within their portfolios, while also rolling out
numerous sub-brands.
Such moves are again serving to consolidate performance
around the best performing street and mall environments, while
some poorer performing malls have been forced to close, further
boosting the market share of the ‘winners’.
2014 HAS
SEEN A
SIGNIFICANT
UPTURN IN
NEW BRANDS
ARRIVING
KEY TRENDS IDENTIFIED:
Investment capital flooding into Spain and fighting for the
best assets; consumer confidence on the rise again; retail
specialists planning a wave of new schemes
5. Property brochure
38 39CBRE | SHOPFRONT 2014/15 CBRE | SHOPFRONT 2014/15
REBECCA PEARCE, EMEA HEAD OF SUSTAINABILITY AT CBRE, INVESTIGATES THE
POTENTIAL FOR ENVIRONMENTAL SUSTAINABILITY TO BE HARD-WIRED INTO THE
RETAIL LEASING PROCESS.
Whatever one’s views on the ultimate impacts of climate change,
nobody can deny that our planet is using up its natural resources –
and generating landfill waste – at far too rapid a rate. The dilemma
at both governmental and corporate levels has been around working
out the practical steps that can be taken to slow down this effect and
make our lives more sustainable.
In retail real estate the solution could well come in the form of the
green lease. This is an initiative that has been around for a while
now, forming part of a growing movement to get landlords and
tenants working closer together to reap the environmental and
financial benefits from more sustainable behaviour.
So what is a green lease? It can take several forms, some involving
binding obligations, others implemented on a voluntary basis. In
the former case, green commitments are hard-wired into the lease
agreement itself, with potential penalties for non-compliance. In
the latter case, the commitments are often grouped into an annex
to the lease or incorporated into a non-binding memorandum of
understanding.
Typical elements within a green lease are targets around energy and
water consumption, also generation of waste to landfill. Perhaps
most significant, however, are the requirements for information
sharing in these energy/waste matters, in order to set workable
benchmarks that can drive improved performance. This requires
quite a leap of faith given the traditionally stand-offish nature of
the landlord/tenant relationship, where information has often been
closely guarded.
Some landlords are already grasping the nettle, however. Redevco
is one of the pioneers in this regard: for the past six years it has
been collecting energy/water consumption data from some 1,100
tenants, which it makes public in the form of the Redevco Retailer
Sustainability Benchmark. This is an online scorecard tool that
any retailer can consult in order gain a better insight into their
environmental performance versus their peers.
In Asia, the green lease has become a reality in several markets,
notably Singapore and Malaysia. The developer making much
of the running is Lend Lease, which has rolled out green leases
in Singapore for the 313@somerset mall which it manages, and
also at its Jem mixed use scheme, which includes an 818,000 sq ft
shopping mall. The Lend Lease green lease encourages retailers
to make use of highly efficient lighting systems, adopt recycling
strategies and reduce overall tenancy waste.
DO TENANTS HOLD THE GREEN KEYS?
While landlords appear to be making the running with green
leases, in many ways it’s the tenants who hold the key to the
concept’s ultimate success. This works in two ways: accepting green
lease clauses during the lease negotiation process; also taking a
partnership approach to energy-saving investments.
As anyone who has taken part in a lease negotiation will know,
achieving the former is not an easy task, particularly when it comes
to the legal process. Easing this bottleneck is the aim behind a new
campaign by the International Council of Shopping Centres, which
is asking the chief executives of landlords, property managers and
tenants to put their names to a sustainability declaration, with a view
that this top-level endorsement can be used to punch through legal
and other barriers.
So far a host of high profile names in the property industry have
signed up. They include Redevco, Unibail-Rodamco, ECE, M&G
Real Estate, TIAA Henderson Real Estate, BANEASA Developments
SRL, Land Securities, Immochan and CBRE. At the time of going to
press ICSC was reaching out to retailers also.
The second issue, around co-funding investment in green initiatives,
is naturally a thorny topic. The industry has long suffered from the
so-called split incentive dilemma, whereby investments made by
landlords in areas such as energy efficiency are reflected in cheaper
service charges for tenants but do not contribute to the landlord’s
bottom line until the next rent negotiation, if at all.
With this in mind, the announcement last year by
Marks & Spencer that it was collaborating with the UK’s Better
Buildings Partnership on green clauses via memoranda of
understanding, could prove telling.
Speaking at the time of the announcement, Clem Constantine,
M&S’ then Director of Property, commented: “Currently it can
be difficult for landlords and tenants to work together when it
comes to a building’s environmental performance, particularly
for older leases. There’s often no real structure for measurement,
incentives or sharing of goals. Green leasing changes this
situation as it provides the framework within which both can
work together. And both will benefit, a store with a reduced
environmental impact and lower costs is more marketable for
landlords and more cost effective for tenants to occupy – a
genuine win, win.”
Such moves towards greater collaboration can only be beneficial
to the prospects for green leases. In many markets this forms the
last real stumbling block, since the logical arguments for saving
money through energy conservation have long since been won.
It feels as though we are on the cusp of broader green lease
adoption; it’s up to everyone within the retail real estate sector
to turn this promise into reality.
REBECCA PEARCE
t: +44 20 3257 6232
e: rebecca.pearce@cbre.com
6. EFT Energy Annual Report
Latitude
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9. Property brochure
CBRE
Using CBRE brand guidelines produced
a brochure with content supplied from the
marketing team. Created graphs, charts and set
copy to a baseline grid. Accessed their image
library and chose appropriate photography.
UKDEVELOPMENTFUNDING-ISITAVAILBLE?
10 11
UKDEVELOPMENTFUNDING-ISITAVAILBLE?
REGIONAL FOCUS: ‘ A TALE OF TWO CITIES ’, EXEMPLARS OF THE TRENDS IN DEVELOPMENT FUNDING.
DIAGRAM A: DEVELOPMENT FUNDING EVOLUTION
New structured finance models
A. Gap funding
Equity
20% to 30%
Mezzanine
15% to 25%
Senior Debt
Development finance
40% to 55%
B. Highly structured
Mezzanine 10% to 20%
Preferred Equity 10% to 20%
Grant funding 10% to 20%
Equity 5% to 15%
Senior Debt
Development finance
40% to 55%
Equity
10% to 30%
Old Model
Senior Debt
50% to 70% for speculative
90% + for fully-let
STRUCTURED FINANCE:
BRIDGING THE GAP
LONDON: BENEFITING FROM AVAILABILITY
OF FUNDING
MANCHESTER: REGIONAL TEMPLATE FOR
THE FUTURE
Continues to dominate development funding
allocations.
Availability of funding is matching improving economic
strength and property growth.
Decent schemes with strong sponsors have access to
the most varied and cost-effective funding sources.
Pre-let schemes preferred, but flagship speculative
developments are possible.
Residential development is especially attractive:
continued upward pressure on house prices and
constrained supply.
Undergoing rejuvenation, where traditional lenders, new
funds and alternative capital providers are emerging to
support landmark schemes.
Scheme viability and structured finance solutions are key.
Innovative funding schemes are available (e.g. the North
West Evergreen Fund).
Highly supportive council and local authorities.
This revitalisation is anticipated to emanate across other
regions, which are showing similar early signs
of stimulation.
EVOLUTION TOWARDS
STRUCTURED FINANCE
SOLUTIONS
Diagram A demonstrates how the old model of significant
leverage coupled with equity has become unviable.
We are witnessing an evolution into more detailed
structured financings, consisting of various components,
becoming more common. Previous innovations would
have typically been led by the banks, but the onus is now
on the developers and their advisors to be creative if their
schemes are to be realised.
Prohibitively expensive funding is often as problematic
as an outright lack of finance as it jeopardises scheme
viability. As a solution, tiered capital structures can be
delicately assembled that carefully balance the various
costs or return hurdles of each type of finance to achieve
an overall blended rate that is feasible for the developer
and attractive to funders.
CBRE has witnessed regional schemes that have utilised
multiple combinations of senior debt, junior debt,
preferred equity and grant funding. In such situations,
these structures are often the developer’s only choice,
but can work very efficiently.
Grant funding derived from European and local
government bodies, such as the Homes and Communities
Agency and European Regional Development Fund, has
become an elusive yet crucial component of the funding
package for developers, especially outside London and
the South East. Where such grants can be secured, the
developer effectively bridges the gap between debt and
equity with little or no return hurdle, meaning more free
cash to service the other finance components.
Grant funding has become an
elusive yet crucial component of
the funding package
10. Property brochure
UKDEVELOPMENTFUNDING-ISITAVAILBLE?
4 5
UKDEVELOPMENTFUNDING-ISITAVAILBLE?
Equity and debt have been scarce for development, but
rare pockets of funding are available for those who know
where to look and are prepared to be creative.
Banks have significantly reduced their loan book exposure
to development to pre-2007 levels, but are expected
to eventually stabilise at lower levels, establishing new
market norms (see Chart 1).
This can be considered as a new rebased equilibrium
where development debt constitutes an integral, but more
limited part of lending. Debt funds and new entrants are
expected to partially supplement these allocations, but
total availability is still expected to remain compressed.
Development is still a feature of traditional lenders’
origination, but commercial development accounts for
just 5% of new business (see Chart 2). Geographically,
London and the South-East dominate funding, but the
situation is slowly improving in the regions where lending
appetite is selectively returning for certain schemes.
Speculative developments typically struggle to secure
bank finance, unless strong banking relationships exist
or if the schemes are in the most attractive locations.
Alternative funders can be considered, but pricing and
leverage may be higher. Where debt cannot be sourced,
developers may resort to initially funding on an equity-
only basis, possibly with a third-party providing the capital
where the developer supplies the land and its skill. Whilst
this can be expensive, it can sometimes be the only option
available and the developer may hope to refinance with
traditional debt once pre-lettings are achieved during the
development phase.CHART 1: BANK LOAD BOOK ALLOCATIONS TO DEVELOPMENT FINANCE
£bn
£50.0
£45.0
£40.0
£35.0
£30.0
£25.0
£20.0
£15.0
£10.0
£5.0
£0.0
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013Est
Residential development (banks)
Fully pre-let commercial (banks)
Speculative development (banks)
CHART 2: TRADITIONAL LENDERS’ ALLOCATION OF NEW LENDING IN 2012
Source: DeMontford and CBRE
Investment
Commercial Development
Residential Development
Source: DeMontford
IS DEVELOPMENT
FUNDING AVAILABLE?
Banks have significantly reduced
exposure to development to
pre-2007 levels
Commercial development
accounts for just 5% of
new business
11. KIER group graduate brochure
33 Recruitment advertising
Using style guides and concept designs
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INSITEALookintoCAREERSAT KIER
Should you need to contact us, please write to:
Recruitment and Training Administrator
The Training and Development Department
Kier Group
Tempsford Hall
Sandy
Bedfordshire
SG19 2BD
United Kingdom
Tel: 01767 640111
Fax: 01767 641729
When you’ve got everything you need at your fingertips, all that’s left to
do is make the right choice. We’re here to help at every stage. You can
find even more information on our website www.kier.co.uk/careers and
contact us at any time if you have a question.
Once you’ve made your decision, what next? Well, our selection process
consists of two stages. Initially we hold interviews at universities,
careers events and our offices during the year. Our second stage
interviews are conducted at our head office in the spring, consisting of
a series of interviews and group activities to assess how well you’ll fit
in and give you a chance to find out some more about us. After this, we
make our offers.
We look forward to hearing from you.
Visit www.kier.co.uk/careersto find out everything
you need to know about how, when and where to apply.
Withinyour
sights
12. KIER group graduate brochure
5kier.co.uk
many opportunities for the best of starts
Kier Group provides a complete range of construction services across
a diverse range of sectors, giving graduates the opportunity to work on
a broad range of projects. You could find yourself working on projects in
a variety of sectors, including health, education, commercial, industrial,
government, defence, pharmaceutical and retail – working in partnership
with consultants, designers and sub contractors.
our graduate training schemes
At Kier, we give you everything you need to develop your career,
right from the word go. Our graduate and management development
programmes will ensure that you attain the skills necessary to reach
senior management positions within the Group as soon as you are able.
These comprehensive programmes include on-the-job training,
mentoring, project-based learning and numerous training courses.
They are accredited by all of the main industry institutions, including
CIOB, ICE and RICS.
WHAT’s
involved?
construction management
The best construction management graduates join us to work towards
senior management. You’ll gain crucial technical expertise working on
site, carrying out site surveys and planning, and you’ll also spend time
in the office to gain a rounded picture of the industry in roles such as
estimating and surveying. We’ll offer you at least six days off-the-job
training every year and encourage you to seek membership of the
Chartered Institute of Building (CIOB) www.ciob.org.uk, and assign you
an assessor as your CIOB mentor.
civil engineering
We operate an approved registered training scheme leading to
membership of the Institution of Civil Engineers (ICE) www.ice.org.uk.
For those with a qualifying degree, election to corporate membership of
the Institution (MICE) as a chartered engineer is possible. We’ll
encourage you to seek membership as early as possible and support
your development throughout. You will gain experience in solving
complex engineering problems, designing ‘turnkey’ projects and
planning major contracts. Your development will be supported by your
supervising civil engineer, who will be assigned to you as a mentor.
quantity surveying
This is an ideal opportunity for graduates with a commercial bias who
can demonstrate a sound practical approach and wish to develop their
career with a contractor. You’ll work under the direct control of a senior
quantity surveyor, making a real contribution to Kier’s profitability from
the start. We’ll encourage you to become a corporate member of the
Royal Institution of Chartered Surveyors (RICS) www.rics.org.uk. You’ll
work initially from a regional office or on a major contract, measuring
on site or from drawings and preparing bills of quantities. Later you will
gain experience in other aspects of site quantity surveying.
other opportunities
We are also looking for professionals to join from other disciplines,
where you will find the challenges just as appealing. Training is tailored
to the needs of your professional body, with a mentor to oversee your
progress. These disciplines include: accountancy; architectural
technology; building services engineering; general management;
business development/marketing; facilities management; housing; IT;
land buying; surveying and planning. Visit www.kier.co.uk/careers to
find out more about all our graduate opportunities.