Dransfield Properties Marshall s Yard Gainsborough. Transforming a Lincolnshire Market Town

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1 Dransfield Properties Marshall s Yard Gainsborough Transforming a Lincolnshire Market Town

2 Andrew Malley Retail Property Director Dransfield Properties Ltd

3 Dransfield Properties - Background Based in Barnsley and formed in Celebrating 20 years in the industry this year Primarily town centre retail developers Specialists in stand alone foodstore projects as well as non food retail developments and major town centre schemes Towns and cities we have worked in include; Morpeth, Gainsborough, Selby, Stoke on Trent, east Manchester

4 Marshall s Yard, Gainsborough CASE STUDY DVD

Background and History In 1860 the site was home to the largest factory complex in Europe Manufacturers of Marshall s steam engines, threshing machines and agricultural machines; exported all over

5 Background and History In 1860 the site was home to the largest factory complex in Europe Manufacturers of Marshall s steam engines, threshing machines and agricultural machines; exported all over the world During the First World War, the workforce grew to 5,000 to cope with the production of munitions Factory closed in 1973 and became vacant in 1986 leaving 32 acres of semi derelict part listed buildings on a key site in the town

6 Marshall s Yard Timeline 2003 site marketed and a partnership formed with Dransfield Properties Prospect Estates to bring forward a new development on a former factory in Gainsborough Plans approved by West Lindsey District Council in January 2005 and first retailers named JJB, Brantano February 2005 work starts on demolition and highway improvements Feb 2006 Next and M&S sign up for the development; other including Halfords and New Look followed May Edward Leigh MP officially launches the commencement of construction with a balloon release April 2007 first retailers opened, a phased opening saw others follow in August and September

7 Marshall s Yard Physical Challenges

8 Site after demolition

9 Site after construction

10 Marshall s Yard before development work started

11 Marshall s Yard April 2007, after completion

12 Marshall s Yard before development work started

13 Marshall s Yard April 2007

14 Marshall s Yard Market Challenges Gainsborough s traditional poor image as a retail destination predominantly value and charity shop; reversing that perception Reversing the trade leakage of 92p in the pound Fragmented catchment Market potential identified by CACI but difficult to target Persuading retailers to see Gainsborough as an opportunity with a point of difference to surrounding towns Competition from traditional much stronger retail destinations

15 Marshall s Yard Meeting the challenges Integral part of the strategic growth of the town Market town in decline reversing that trend and encouraging people to come back to Gainsborough Awareness raising awareness in a fragmented catchment with limited budget Marketing and events develop the point of difference by holding Farmers Markets and Craft Markets as well as Heritage events keeping the link with the site s former use Attracting the core catchment and wider catchment - ie Scunthorpe, Lincoln, Retford, Worksop

Marshall s Yard The economic benefits Market size before development was 38.

3 million* Footfall No comparable footfall data prior to development but MY is attracting around 50,0000 visitors per week (2.

The construction period supported 350 construction jobs for 12 months.

16 Marshall s Yard The economic benefits Market size before development was 38.6 million figures from 2010 show this has risen to 67.3 million* Footfall No comparable footfall data prior to development but MY is attracting around 50,0000 visitors per week (2.6m per year) Employment Development has created 550 new jobs, 430 of these in retail and 65% new employees to Gainsborough. The construction period supported 350 construction jobs for 12 months. Local spend More than half of the staff say they now spend 40 % of their weekly shopping budget in Gainsborough** Partnership with stakeholders ie saving of 35,000 for WLDC with CCTV link up Return to UK PLC 906,994 paid in local business rates in 2010/11. *figures from CACI **Figures from 2012 survey

17 Investment in Enterprise and People Local supply chain local suppliers and contractors employed. 89 per cent of annual expenses go to local businesses ( 540k PA) Independent retailers almost 30% of the retailers at MY are independent companies. Browns of York the latest to open Market Traders investment and relaunch of the Farmers Market at MY. Attracts around 20 businesses every month Pattern Store Offices aimed at small start up businesses ability to expand

Investment in independent retailers Case study

in April 2009 selling labels including Radley

on the centre, expanded range to include

18 Investment in independent retailers Case study - Chic 2009 new kiosk created after an approach by local firm Chic. Selling handbags and accessories Chic opened in April 2009 selling labels including Radley and Tula Nov 2011 moved to a full size store on the centre, expanded range to include clothing from iconic country fashion brands such as Joules, Dubarry and Musto

96 % more likely to visit Gainsborough Enhanced linkages between the development, the Tesco store and the rest of the Town Centre.

19 Investment in Place Transformed run down and disused former factory on a gateway site into a well used local amenity Public realm creating new high quality public spaces in Gainsborough. Helping to renew civic pride. 96 % more likely to visit Gainsborough Enhanced linkages between the development, the Tesco store and the rest of the Town Centre. Design character listed buildings within the development site were sympathetically restored and new buildings in keeping Mix of uses 123,000 sq ft retail, 25,000 sq ft leisure, 62,000 sq ft office space

20 Questions? Andrew Malley Retail Property Director Dransfield Properties Ltd

HARROGATE 4-16 CAMBRIDGE ROAD & 7 OXFORD STREET. Prime Freehold Convenience Retail Investment

HARROGATE 4-16 CAMBRIDGE ROAD & 7 OXFORD STREET. Prime Freehold Convenience Retail Investment Prime Freehold Convenience Retail Investment INVESTMENT CONSIDERATIONS Harrogate is an attractive Victorian spa town and one of the most affluent catchments in the UK Prominent multi-let convenience retail