Page 12 - Lifestyle Outlets-Glasgow Harbour

WHY GLASGOW?
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 12
Strong Consumer Demand for Outlet:
Drawing upon survey based lifestyle penetrations the estimated shopper population at at Lifestyle Outlets Glasgow contains a a a a substantial volume of outlet shoppers FSP estimate Lifestyle Outlets Glasgow will have a a a a similar number of standard outlet shoppers as York Designer Outlet with more than Swindon Designer Outlet and Ashford Designer Outlet ranking it 5th amongst UK outlet centres In terms of the subset of upscale outlet shoppers Lifestyle Outlets Glasgow will have greater numbers than Braintree Clarks Village and York Designer Outlet also ranking it 5th in in the UK 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 the Assured Clothing & Footwear segment which will be the main focus for the o o o er 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 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 Public Transport Links: Lifestyle Outlets Glasgow is 200m from Partick
Station which provides excellent rail links to the city centre (Queen Street 9 mins) a a luent suburbs such as Hyndland (2 mins) mins) or Bearsden (12 mins) mins) and to to Edinburgh beyond (60 to to 90 mins) In addition the 100 Riversider bus route connects The Riverside Museum with George Square (every 30 mins) and the 707 Event Link runs from SECC to the city centre stations during major events and concerts Weak and Vulnerable Competition:
Scottish outlet centres have historically been badly executed and poorly managed Todays’ dated sites with o o o ers 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 Sales density performance at Lifestyle Outlets Glasgow is expected to be be significantly better than UK average (£280/ft2) FSP estimates sales density of £433/ft2