UK retail property giant Landsec said this week that it’s “reached the next major milestone in its transformation of Gunwharf Quays after breaking ground at Marlborough Square”.
Its latest round of improvements is designed to boost the visitor experience and reinforce the Portsmouth outlet destination’s appeal among affluent shoppers and international visitors.
The owner/operator of key retail centres including Bluewater, Trinity Leeds and Liverpool One, said Gunwharf Quays remains one of the UK’s best-performing retail outlets.
And having upgraded The Avenues part of the property earlier this year, it expects the new works (which will be complete next spring) to add to its appeal.
It’s enhancing shopfronts and façades, improving landscaping, expanding washrooms, and adding extra seating, all designed to “improve dwell time and enable stronger flagship presentations”.
A new retail unit will also launch “to bring a new brand experience to the centre in time for peak trade over the Golden Quarter” and brands including Crew Clothing and M&S will move into larger units, with M&S expected to continue trading throughout the works.
The new investment follows what it said has been a period of “standout commercial success with a record year for sales and footfall and more than a quarter (28%) of stores on-site breaking performance records in FY24/25,” we’re told.
Tim Treadwell, head of retail portfolio at Landsec, said: “We continue to see strong demand from leading brands looking for premium environments to grow their outlet offerings.”
That’s perhaps unsurprising given the polarisation in UK retail with certain destinations/supermalls outperforming while those with less unique appeal struggle to attract both brands and shoppers.
Gunwharf Quays has a number of built in advantages aside from being run by one of the country’s key retail property specialists. It’s in a historic, waterfront location with a good selection of premium stores (Russell & Bromley is among its latest arrivals), and plenty of leisure activities, including a cinema and bowling.
Interestingly too, earlier this year, Landsec installed 1,287 solar panels throughout Gunwharf Quays, one of the largest arrays of solar across UK shopping centres. These generate more than 500,000 kWh annually and reduce the destination’s carbon emissions by 115 tonnes, the equivalent of planting 5,400 trees.
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