London Bridge Retail & Leisure Report August 216
CONTENTS 1. Introduction...3 2. Market Activity...4 3. Available Units.5 The Retail Arcade 6 Railway Arches...7 One Tower Bridge...8 4. Area Information & Consumer Insight...9 5. Footfall...12 For more information contact Henry Johnstone 27 47 471 henry@teamlondonbridge.co.uk London Bridge Retail & Leisure Report August 216 2
1. INTRODUCTION Team London Bridge is the Business Improvement District for London Bridge. Established in 26 and funded by the business community we are tasked with improving the trading environment for the 4+ business that are located here. For the purposes of this report the area of analyses focuses on the London Bridge BID area (see map below). It s important to note that this does not include Borough High Street or Bermondsey Street. London Bridge is a relatively new commercial district compared to others in London and the retail market has somewhat lagged behind - 56.5% of spend in the area is on food & drink whereas just 18.9% on retail. We believe there is considerable scope for London Bridge s retail & leisure market to grow and improve, driven by the following factors: The full re-opening of London Bridge station in 218 with a 4% capacity increase and 7,sqft of new retail space. The lack of a competing, established retail & leisure core along the south bank. Fielden House, Vinegar Yard, Capital House, New City Court, Dirty Lane (previously Vinopolis site) and Colechurch House. 3 million redevelopment of the former Vinopolis site (Borough Market) into a boutique retail destination. Introduction of the Jubilee Line night tube in autumn 216. The Low Line - an initiative led by south London s Business Improvement Districts, and now adopted into Southwark Council planning policy, which proposes a four-mile green walking and cycling route along the viaduct between Vauxhall and Bermondsey. As well as public realm improvements the vision for the (largely vacant) railway arches between London Bridge station and Tower Bridge Road is for them to house a coherent mix of small, primarily independent retail, leisure and workspace operators. This will provide the missing link between the station and thriving Maltby Street/ Druid Street markets to the east. A significant development pipeline, namely: London Bridge Retail & Leisure Report August 216 3
2. MARKET ACTIVIT Y Recent Occupiers Type Location Occupation Date 1. TM Lewin WH Smith Paperchase Krispy Kreme Hotel Chocolat Thomas Exchange Caffe Nero Leon Boots Oliver Bonas Costa ACE-FX 2. Win or Lose 3. Texas Joe s 4. Carve 5. The Ivy 6. London Theatre Company Men s Clothing Newsagents Stationery Confectionary Confectionary Bureau de Change Coffee Shop Fast Food Chemists Fashion/Homeware/Gifts Coffee Shop Bureau de Change Pop-up men s clothing Restaurant Restaurant... Restaurant Theatre... The Retail Arcade Snowsfields Tooley Street... One Tower Bridge One Tower Bridge... August 216 August 216 August 216 August 216 August 216 August 216 August 216 August 216 August 216 August 216 August 216 August 216 June 216 July 216 July 216 Summer 217 Summer 217 London Bridge Retail & Leisure Report August 216 4
3. AVAILABLE UNITS 1. The Retail Arcade, Joiner Street, SE1 9SG... 2. Railway Arches, St Thomas, SE1 3QU... 3. One Tower Bridge, Tower Bridge Road, SE1 2AA... London Bridge Retail & Leisure Report August 216 5
AVAILABLE UNITS 1. The Retail Arcade, Unit Size Permitted Use Joiner Street, SE1 9SG 1 1163 A1 (sale or preperation of food, other than confectionary is prohibited) Shopping arcade beneath London Bridge Quarter at the entrance to 4 & 9 2782 A1 (sale or preperation of food, other than confectionary is prohibited) both the main line and London Underground station comprising 15 8. 65. Display Purposes Only. units. Current tenants include Hawes & Curtis, Superdrug, O Sullivan s 14.. 52.. A1 (sale or preperation of food, other than confectionary is prohibited) hairdressers, ACE-FX and Win or Lose. Enquiries to: Andrew Sell andrew.sell@relimited.com 2 3437 35 The Retail Arcade Letting Status as at 15th June 216 Unit 1-1,163 sq ft Unit 2 - Superdrug - Lease completed & trading from 4th December 215 Unit 3 - Hawes & Curtis - Lease completed & trading from 25th February 216 Units 4 & 9-2,782 sq ft Unit 5 - London Bridge Hotel in sols hands to Starbucks Unit 6 - O'Sullivan Hairdressers - lease completed & trading from August 215 Unit 7-81 sq ft - pop up letting to Win or Lose (menswear) due early June for 1 month Unit 8-65 sq ft Use for display purposes only Units 1 & 11 - S Lyons Ltd (florist) - trading from October 215 Unit 12 - Three Wheels Coffee Unit 13 - Marley's Cupcakes lease completed & trading 5th April 216 Unit 14-52 sq ft Unit 15 - Ace Fx Bureau de Change lease completed & to fit out in June. Under Offer 5 London Bridge Retail & Leisure Report August 216 6
AVAIL ABLE UNITS 2. Railway Arches, St Thomas Street, SE1 3QU The six arch retail units on St Thomas Unit Size Permitted Use 1348 A1, A3, A4, A5 Street have been designated affordable 1 business units as part of the Station S16 agreement. Two of these six were marketed early July 216 one has been let and the other remains available. The final four units will be marketed in spring 217. Tenant eligibility criteria apply. Download Brochure Enquiries to: Nick Goodman nick.goodman@montagu-evans.co.uk 2 7312 7432 Paul Bugela paul.bugela@montagu-evans.co.uk 2 7312 7471 ET TRE EY S L TOO BE RM S DS EY ST RE ET ET TRE SS MA O T TH ON AVAILABLE UNITS Units 58 & 59 St Thomas Street, London SE1 MONTAGU EVANS London Bridge Retail & Leisure Report August 216 7
AVAILABLE UNITS 3. One Tower Bridge, Tower Bridge Road, SE1 2AA Berkeley Homes s One Tower Bridge is a development of 373 luxury apartments and 33,sqft of retail & leisure space adjacent to Tower Bridge, overlooking Potters Fields Park and The Thames. The London Theatre Company will operate a 9 seat theatre in the site s cultural space, accompanied by The Ivy restaurant. Both are due to open in summer 217. The 7 bed luxury Lalit Hotel is under construction immediately to the west on Tooley Street and due to open late 217. Unit 1.2 1.3 2.1. 3.1.. 3.2 4.1 4.2. 4.3.. 6.1 7.1 Size 9,157 2,777 1,72. 4,42.. 2,222.. 2,996.. 3,156.. 1,769.. 1,97.. 5,34.. Permitted Use............... Download Brochure Enquiries to: Robert Meadows rmeadows@daviscofferlyons.co.uk 2 7299 738 Pippa Page ppage@klmproperty.co.uk 2 7317 37 James Andrews jandrews@klmproperty.co.uk 2 7317 37 London Bridge Retail & Leisure Report August 216 8
4. AREA INFORMATION & CONSUMER INSIGHT Exerpts from Experian report (Download Full Report Here) 1. Retail Spend 2. Leisure Spend London Bridge Retail & Leisure Report August 216 9
AREA INFORMATION & CONSUMER INSIGHT 3. Full year card spend in London Bridge throughout 214 Time Retail Leisure Other Total 6am - 12pm 812,315 726,69 734,154 2,272,539 12pm - 2pm 1,163,898 1,443,652 585,11 3,192,66 2pm-6pm 1,768,416 4,233,917 2,75,915 8,78,248 6pm - 12am 1,354,397 8,25,434 2,595,18 11,976,11 12am - 6am 8,564 52,974 324,866 836,43 TOTAL 5,17,59 14,932,947 6,316,225 26,355,861 4. Customer Origin 5. Customer Mosaic Profile Location % Walworth Road 4.35 Brixton 4.4 Lewisham 3.59 Peckham 3.42 Tooting 3.1 Surrey Quays 2.82 Holloway 2.76 Beckenham 2.14 Wandsworth/ Clapham Junction 1.91 Stratford 1.9 Mosaic Profile Consumers % City Prosperity 25,717 26.2 Municipal Challenge 15,391 15.7 Rental Hubs 11,973 12.2 Urban Cohesion 11,69 11.3 Domestic Success 8,65 8.8 Prestige Positions 6,236 6.4 Aspiring Homemakers 3,856 3.9 Family Basics 3,445 3.5 Senior Security 3,324 3.4 Suburban Stability 1,931 2 Vintage Value 1,938 2 Country Living 1,69 1.7 Rural Reality 1,79 1.1 Transient Renters 929.9 Modest Traditions 768.8 TOTAL 97,997 1 London Bridge Retail & Leisure Report August 216 1
AREA INFORMATION & CONSUMER INSIGHT 1. Occupier Type As of July 216 2. Independent vs Multiple Retailers As of July 216 London Bridge Retail & Leisure Report August 216 11
5. FOOTFALL Footfall Counter Locations 1. London Bridge Walk 2. Hay s Galleria Riverside 3. More London 4. Bermondsey Street 5. Tooley Street 1. Average Daily Footfall Count - London Bridge Walk July 216. 3. 4. 5. 6. 7. 8. 9. 1. 11. 12. 13. 14. 15. 16. 17. 18. 19. 2. 21. 22. 23.. 2 1. Monday Tuesday Wednesday Thursday Friday Saturday Sunday London Bridge Retail & Leisure Report August 216 12
FOOTFALL 2. Average Daily Footfall Count - Hay s Galleria Riverside July Monday Tuesday Wednesday Thursday Friday Saturday Sunday 1. 2. 3. 4. 5. 6. 7. 8. 9. 1. 11. 12. 13. 14. 15. 16. 17. 18. 19. 2. 21. 22. 23.. 3. Average Daily Footfall Count - More London 216 Monday Tuesday Wednesday Thursday Friday Saturday Sunday 1. 2. 3. 4. 5. 6. 7. 8. 9. 1. 11. 12. 13. 14. 15. 16. 17. 18. 19. 2. 21. 22. 23.. London Bridge Retail & Leisure Report August 216 13
FOOTFALL 4. Average Daily Footfall Count -Bermondsey Street July 216 Monday Tuesday Wednesday Thursday Friday Saturday Sunday 1. 2. 3. 4. 5. 6. 7. 8. 9. 1. 11. 12. 13. 14. 15. 16. 17. 18. 19. 2. 21. 22. 23.. 5. Average Daily Footfall Count - Tooley Street East July 216 Monday Tuesday Wednesday Thursday Friday Saturday Sunday 1. 2. 3. 4. 5. 6. 7. 8. 9. 1. 11. 12. 13. 14. 15. 16. 17. 18. 19. 2. 21. 22. 23.. London Bridge Retail & Leisure Report August 216 14