Retail & Leisure

Nottingham is a key location for any retailer wanting a high profile presence in one of the UK's most successful regional city centres.

Nottingham retail opportunities

Nottingham is one of the top five UK destinations and is bursting with an eclectic mix of boutiques and leading brands. Nottingham's strong independent niche offer, clustered in the Lace Market and Bridlesmith Gate areas, is one of the city's most distinguishing features. Vivienne Westwood, Diesel, Ted Baker, Kurt Geiger, Hugo Boss, Paul Smith, MAC and L'Octainne are to name but a few of the leading designer names already in Nottingham.

As a top city, Nottingham has over 1,100 retail outlets set in striking historic and distinctive new buildings surrounded by cobbled pedestrian zones. All of this gives a number of retail opportunities and makes Nottingham one of the most popular retail locations in the UK.

CACI has released its annual ranking of the UK's top retail locations and Nottingham has now climbed to 5th place in the UK with a retail spend figure £1.81bn ahead of Leeds, Westfield London and Newcastle Upon Tyne. Nottingham's highest spending age group is the 35-44 range, and the fastest growing consumer group is over 55. Nottingham has a large student population of over 60,000 - demonstrating another key consumer group with a focus to young fashion in the 16 - 21 age range.

DTZ Retail Spotlight has reported static rents in many UK cities as reflected in the table below. The prime retail rent for Nottingham has reduced in line with its competitor cities and is now £225 per sq ft, meaning that Nottingham has wealth of retail opportunities

Prime Retail Rents and Yields

Location	Year End 2007	2008	2009	Change 2008-2009%
	£/sq ft Zone A	£/sq ft Zone A	£/sq ft Zone A
Nottingham	253	253	225	-1.2
Manchester	305	305	280	-8.2
Leeds	305	305	275	-9.8
Birmingham	325	325	325	0.0

Source: DTZ Research - December 2009

Prime Retail Yields December 2009	Year End 2007	2008	2009	Change 2008-2009%
	% Yield	% Yield	% Yield	% Yield
Nottingham	4.20	5.25	6.25	19.0
Manchester	4.25	5.50	6.00	9.10
Leeds	4.25	5.50	6.25	13.6
Birmingham	4.25	5.25	6.25	19.0

Source: DTZ Research - December 2009

Top 10 high profile companies

• Capital Shopping Centres
• Paul Smith
• John Lewis
• House of Fraser
• Marks and Spencer
• Boots the Chemist
• Tesco
• Debenhams
• Waitrose
• The Cornerhouse
• Gatecrasher

In terms of floor space volume, Nottingham is still ranked 4th in the UK, and there is still demand from high end retailers who wish to set up in the city.

With forthcoming retail schemes in Beeston and Arnold, it will ensure that retail growth and opportunities are strong across the whole of the connurbation and not just the city centre.

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