A report today by research company Experian confirmed Guildford as a thriving retail centre and top of their survey based on data about the levels of consumer spending, household income, demographics and the penetration of online retailing. Retailers in the town have reported strong trade, while it is reported that John Lewis has identified the town as a location where it would like to open a department store.
The Experian survey, which excluded Central London, ranked Guildford ahead of Kingston-Upon-Thames, Tunbridge Wells, Reading and Harrogate. It found Guildford attracted an annual retail spend of £900 million with 6,878 households with incomes of between £100,000 and £150,000.
This report sits very much in line with the view that for high streets to be successful, they need offer more than just the standard national multiples. The location needs to be attractive to the eye and the shopping “experience” needs to offer cafes, restaurants and the small specialist retailer over and above the bland national retailers found in nearly every high street.
Mellersh & Harding are currently selling a prime retail investment in York for an institutional client. David Mundy, head of Investment, commented “York is one of the most visited retail locations in the UK, being able to offer the shopper not only the national multiples but also the many private retailers and the cafes, restaurants and leisure pursuits to make a visit to the City more than just a shopping trip”.
Mellersh & Harding are involved in the sale and purchase of many prime retail investments throughout the UK and can provide advice on all aspects of the retail market.