The Retailer Opportunity
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Pavilions (formerly Pavilion Central) was bought in July 2004 for the strength of its pivotal, central Birmingham location and its core of strong, loyal tenants. The result has seen a new vision for creating a stylish environment for fashion, homeware and lifestyle retailers based on in-depth analysis of the retailing opportunities within Birmingham city centre.
Implementation teams worked throughout 2005 with the first Phase of works completed in November 2005. In terms of experience, sightlines and circulation have been improved dramatically. Lighting levels and other facilities have been improved, while unit sizes have been increased in-line with the market requirements. Also, a new High Street entrance - linked to Marks and Spencer on all floors - was created to maximise impact and increase shopper visibility into the centre. And recently, we’ve just (Oct 2007) completed a new programme of works to bring Pavilions right up-to-date.
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There are opportunities within the centre both now and in the future for quality fashion, lifestyle and homeware retailers to get a foothold on the increasingly important central Birmingham pitch, at a sensible rent level. Simply put, Pavilions' market positioning is between Bullring and Mailbox.
Pavilions management are determined to create the right mix of retailing and catering for the target shoppers, building on the strengths of one of the most successful food courts in the country, the Pavilions Food Loft.
With Zone A rents at below £200 and High Street and New Street at circa £300+, there is a good choice of affordable units with a range of sizes and configurations.
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Birmingham is now ranked the 3rd most attractive shopping destination after London and Glasgow with 2m catchment residents. Research shows a relatively under-developed niche opportunity in the upper middle market, currently the weakest retail offer in Birmingham city centre. The 25+ affluent lifestyle shopper isn't catered for in the immediate 2m catchment - even though they spend £259m a year on clothing and footwear alone and their non-food spending power sits at £5.5bn a year. Recent research shows Birmingham women are particularly high spenders related to national average.
The Bullring development has transformed the city centre, redrawing Birmingham's shopping map, and kick-starting exciting new retail and mixed use developments that meet a market need - none more so than Pavilions. And the upcoming Snowhill transformation will energise the whole central area even further.
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- 2m catchment residents (including 385k ABs and 929k ABC1s) with a non-food spending power of £5.3bn a year
- 558k 25-44s and 26% more 0-24s than the UK average
- Primary catchment population - 237k ABC1s with non-food spending power of £500m a year
- Pavilions' market positioning - between Bullring and Mailbox
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The list of vacant units is currently being updated. While this is undertaken please contact the agents for Pavilions.
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Savills Commercial Ltd
Fountain Court
68 Fountain Street
Manchester, M2 2FE
w. www.savills.com
Mike Knowles
t. 0161 277 7295
e. mknowles@savills.com
Peter Barker
t. 0161 244 7704
e. pbarker@savills.comKitchen La Frenais Morgan
1 Tenerden Street
Hanover Square
London, W1S 1TA
w. www.klmproperty.co.uk
James Andrews
t. 020 7317 3708
e. jandrews@klmproperty.co.uk
Mostafa Sbitri
t. 020 7317 3720
e. msbitri@klmproperty.co.uk