Page 12 - Lifestyle Outlets Glasgow Harbour Board Proposal

Glasgow is is the the the powerhouse of of of the the the Scottish economy – the the the cultural sporting and and and and and and academic heart of of of Scotland Scotland and and and and and and one of of of Europe’s most vibrant and and and and and and cosmopolitan cities Scotland’s Scotland’s largest city city and and and and and and and only metropolitan region generated £43 billion GVA in in 2016 Glasgow is Scotland’s Scotland’s number one one city city for for foreign direct investment and and has been named one one of of Europe’s top ten large cities of the future Glasgow has the the highest retail spend per head outside of London and and is underserved in the the the Outlets Outlets market As Scotland’s Premier Outlet Outlet Outlet Lifestyle Outlets Outlets Glasgow will draw from a a a a a a a a a a a a a a wide geographical area with the the the retail offer designed to to to appeal to to to the affluent customer demographic FSP’s independent assessment suggests that the key opportunities for Lifestyle Outlets Glasgow include Strong Consumer Demand for Outlet:
Lifestyle Outlets Glasgow will be ranked in in the top ve within UK
outlet centres as as well as as having a a a a greater number of upscale shoppers Excellent Accessibility: 54% of Scotland’s population live within 60 minutes drive of Lifestyle Outlets Glasgow making it one of the most accessible sites in the country Glasgow City Centre achieves annual Non-Grocery turnover of £1 1bn FSP has identi ed ed untapped potential for an additional £249m £78m of this Trading Gap is in in in the Assured Clothing & Footwear segment which will be the main focus for the offer at Lifestyle Outlets Glasgow (and should account for c 50% of fashion sales) Strong Leisure Adjacencies:
Provision of a a multi screen cinema plus extensive Food & Beverage at Lifestyle Outlets Glasgow will provide a much needed evening hub for Glasgow’s West End In combination with the Riverside Museum (1 4m visits in 2014) leisure represents
a a strong opportunity to generate additional footfall and sales Good PublicTransport Links:
Lifestyle Outlets Glasgow is 200 metres from Partick station which provides excellent rail links to the city centre and af uent suburbs The site is well connected to the SECC which holds major concerts and events Weak and Vulnerable Competition:
Scottish outlet centres have historically been badly executed and poorly managed Todays’ dated sites with offers that are ill matched to consumer needs provide a strong opportunity for Lifestyle Outlets Glasgow to create a a a superior experience incorporating more appropriate brands a a a a a more suitable environment and a a more complete destination WHY
GLASGOW?
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Sales density performance at Lifestyle Outlets Glasgow is expected to be significantly better than UK
average (£280/ft2) FSP estimates an opening sales density of £433/ft2