01 The Opportunity
Brindleyplace is a unique retail and leisure destination in Birmingham. It has a large daytime population and a strong evening and weekend trade.
Thanks to an abundance of prime office space, its proximity to a number of Birmingham’s well-known events venues and an established food & beverage offer, the scheme has a continuous visitor flow.
Birmingham has however become a hub for property development in recent years, creating a competitive retail and leisure landscape throughout the city. Owner of Brindleyplace, Hines, knew it needed to maintain its asset’s competitive edge in this market.
Hines asked Cushman & Wakefield to provide strategic leasing advice and to develop a forward-looking tenant strategy for Brindleyplace.
02 The Solution
Combining local and international expertise Cushman & Wakefield created a targeted strategy unique to Brindleyplace.
Our data-driven approach involved:
- a review of the prominent market trends relevant to Brindleyplace;
- a detailed investigation, using mobile data analytics, into how visitors moved around the scheme and interacted with it, and
- an in-depth assessment of the tenant mix.
Using our extensive regional presence, we compared Birmingham’s retail and leisure offer to other major cities throughout the UK to identify exciting opportunities for the city.
Through collaboration across our specialist consultancy and agency teams, the final stage of the assignment was to develop a targeted tenant strategy.
03 The Results
Cushman & Wakefield’s multi-stage approach enabled us to identify clear opportunities for Hines that will ensure the long-term viability of Brindleyplace.
Through our global retail and leisure expertise we understand the importance of creating a sense of place through the activation of the public realm, supported by consistent branding and messaging.
Creating a point of difference at Brindleyplace to drive footfall and attract visitors from elsewhere in the city, would be essential. Through creating a forward-looking and actionable tenant strategy, the outcome was two-fold:
- Through a zoned approach, Brindleyplace now maintains its prominent high-end restaurant offer, and at the same time it creates flexible space to attract new and exciting retail and F&B concepts.
- Brindleyplace has transformed into a flexible asset that can quickly align with market trends in a rapidly evolving retail and leisure environment.