An Outstanding Retail, Restaurant and Leisure Opportunity in Ealing 1
CONTENTS 2 Dickens Yard 4 Opportunity 8 Crossrail 12 Ealing Renaissance 14 Ealing 16 Summary 18 Masterplan 20 Goad Plan 22 Post Crossrail Borough Ranking 24 Ealing in Context 26 Prosperity 28 Ealing Catchment 30 Market Gaps 32 A Reputation Built on Excellence 34 Timescales 35 Agents 1
DICKENS YARD Dickens Yard will deliver a new, quality, aspirational Retail, Restaurant and Leisure quarter in the heart of Ealing Town Centre. A multi-million pound mixed use development adjoining the high street. Part of a major billion pound investment programme taking place in Ealing. 100,000 sq ft of flexible retail, restaurant and leisure space, across circa 30 units. Dickens Yard adjoins New Broadway and incorporates a permeable new street network linking to Longfield Road, and with two new public squares, Town Square and Victoria Square the new streetscape blends seamlessly with the established town centre. 247 space underground public car park located at Dickens Yard. 1 Billion A view of Market Street Computer generated imagery for illustrative purposes only. INVESTMENT IN 2 3
OPPORTUNITY ONE HUNDRED THOUSAND SQ FT WELL MANAGED HIGH QUALITY ENVIRONMENT FLEXIBLE SPACE EXCELLENT AND IMPROVING DEMOGRAPHIC Town Square Computer generated imagery for illustrative purposes only. 4 5
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CROSSRAIL CROSSRAIL Crossrail is set to halve travel times across London, making Ealing an even more desirable place to visit and create outstanding opportunities for retailers. Ealing Broadway Stratford 27 mins Maidenhead Slough Paddington Bond Street Tottenham Court Road Farringdon Liverpool Street 29 mins 20 mins 7 mins 11 mins 12 mins 16 mins 18 mins Canary Wharf 25 mins Heathrow Airport 15 mins 5.5 BILLION ADDED TO RESIDENTIAL AND COMMERCIAL PROPERTY VALUES ALONG THE CROSSRAIL ROUTE BY 2021 (Source: TFL) Journey times from Ealing Broadway to the City and Canary Wharf will be cut to 20 and 25 minutes respectively. Ealing will also attract commuters and affluent professionals in towns west of London, including Maidenhead in Berkshire s Silicon Corridor, and Egham, home to a major Procter & Gamble research centre. * *Knight Frank CACI 2015 8 9
44% INCREASE IN PROPERTY PRICES WITHIN A 15 MINUTE WALK OF BROADWAY STATION SINCE 2008 *, TYPICALLY OUTPERFORMING THE WIDER MARKET BY 6% UNRIVALLED TRAVEL CONNECTIONS GIVE DICKENS YARD AN EXTENSIVE CUSTOMER CATCHMENT AREA ACROSS LONDON While growth in central London prices has slowed during 2015, it s actually gathered strength in areas further out. Price growth is predicted to continue into 2018 and beyond, with Dickens Yard perfectly placed to meet the demand for high-quality comparison shopping among Ealing s increasingly prosperous residents. Computer generated imagery for illustrative purposes only. Copyright Crossrail Ltd *Knight Frank Residential Research 2015 10 11
Watford Hertsmere Enfield Three Rivers Chiltern Harrow Barnet Haringey RENAISSANCE Hillingdon South Bucks Brent Camden Islington Ealing City of Westminster City of London 8.8 Billion Windsor and Maidenhead Slough HEATHROW AIRPORT Hounslow Richmond Kensington and Chelsea Hammersmith and Fulham Wandsworth Lambeth Ealing s total overall catchment size is worth 8.8 billion of spend Spelthorne Richmond upon Thames Merton CATCHMENT POPULATION Primary 95,000 Runnymede Kingston upon Thames Secondary 300,000 Total Catchment 1,900,000 Elmbridge Sutton Epsom and Ewell Croydon Weighted Average Spend 192M Woking (CACI 2015) Guildford Mole Valley Reigate and Banstead 12 13
LONGFIELD ROAD CASTLEBAR ROAD GORDON ROAD HAVEN GREEN HAVEN GREEN HAVEN GREEN B455 HAVEN LANE BROADWAY MADELEY ROAD VILLAG E TOWARDS NORTH UNDERGROUND STATION MADELEY ROAD HANGER LANE TO BECOME A TOP 3% LONDON RETAIL CENTRE BY 2018 (CACI 2015) LONGFIELD AVENUE UXBRIDGE ROAD NEW BROADWAY WALPOLE PARK THE OLD FIRE STATION TOWN HALL LONDON UNDERGROUND MATTOCK LANE STUDIOS BOND STREET ST. MARY S ROAD SPRING BRIDGE ROAD HIGH STREET THE BROADWAY BROADWAY SHOPPING CENTRE THE GROVE OAK ROAD OXFORD ROAD WINDSOR ROAD GRANGE ROAD NORTH COTE AVENUE HAMILTON ROAD THE MALL UXBRIDGE ROAD FLORENCE RD THE GROVE THE COMMON NORTH COMMON ROAD TOWARDS COMMON UNDERGROUND STATION COMMON NORTH CIRCULAR ROAD GUNNERSBURY AVENUE 230m WEIGHTED AVERAGE SPEND BY 2018 (CACI 2015) OVER 570m OF AVAILABLE SPEND WITHIN PRIMARY CATCHMENT BY 2018 (CACI 2015) 38m INCREASE IN COMPARISON GOODS SPEND BY 2018 (CACI 2015) 117,000 RESIDENTS WITHIN THE CORE PRIMARY CATCHMENT BY 2018 (CACI 2015) LONDON BUSES RAILWAY STATION CROSSRAIL ELIZABETH LINE UNIVERSITY OF WEST LONDON COMMON 36% INCREASE IN PASSENGER NUMBERS POST CROSSRAIL OPENING (Source: TFL) 14 15
1 Billion IN 2018 INVESTMENT IN IMPROVING S INFRASTRUCTURE, RESIDENTIAL STOCK AND RETAIL SPACE BROADWAY WILL ATTRACT SIMILAR LEVELS OF SPEND TO KENSINGTON (CACI 2015) CITY SOPHISTICATES SUCCESSFUL SUBURBS 12% 65% OF S SHOPPER POPULATION ARE MADE UP OF 4 AFFLUENT ACORN GROUPS 26% 13% 14% CAREER CLIMBERS EXECUTIVE WEALTH 44% INCREASE IN PROPERTY PRICES WITHIN A 15 MINUTE WALK OF BROADWAY STATION SINCE 2008 * 5.5 Billion 44% ADDED TO RESIDENTIAL AND COMMERCIAL PROPERTY VALUES ALONG THE CROSSRAIL ROUTE BY 2021 (Source: TFL) OF THE POPULATION ARE AGED 20-44* (*CACI 2015) 16 17
N DICKENS YARD HERITAGE COURT TO BROADWAY STATION LONGFIELD AVE VICTORIA LANE VICTORIA SQUARE MARKET STREET SCHOOL LANE Dickens Yard is delivering an exciting new destination not just for Ealing, but for London. The stylish combination of heritage buildings, cutting edge design and public open spaces will provide a vibrant new urban quarter for Ealing. At the heart of Dickens Yard, Elizabeth Square and Market Street form a new high-quality retail and leisure environment, which links seamlessly to Ealing s established town centre. BAKERS YARD TOWN HALL DICKENS WALK EXISTING PARADE OF SHOPS AND CAFÉS ELIZABETH SQUARE BROADWAY BUS STOP NEW BROADWAY NEW BROADWAY Plan layout is indicative and may change according to retailers requirements. 18 19
DICKENS YARD N GOAD PLAN RT COU Dickens Yard MARK NE OL LA SCHO E ITAG ET STR RIA VICTO RE SQUA EET RD RS YA BAKE ANE IA L TOR BETH ELIZA RE SQUA ENS WALK VIC DICK HER The Broadway Filmworks 20 21
15 TH LONDON RETAIL BROADWAY IS SET TO RANK UP FROM 21ST IN 2015 CENTRE IN 2018 (OUT OF 500+) SOURCE: CACI 2015 POST CROSSRAIL BOROUGH RANKING Islington Romford Canary Wharf Uxbridge Ealing Broadway Kensington Wood Green Harrow Clapham Junction Portobello Road Enfield Wandsworth Wimbledon Greenwich Shopping Park Ealing currently sits just outside the top 20 London centres in terms of weighted comparison goods spend. When Crossrail opens in 2018, Ealing is predicted to break into the top 15 of London s largest retail centres, overtaking Kensington (currently ranked 16th) and making significant gains over rival centres including Wimbledon and Wandsworth. As well as enhancing property values and the demographic profile within the borough, Crossrail will make Ealing even more attractive to affluent professionals. 2018 MARKET POTENTIAL RANK 11 TH RANK 12 TH RANK 13 TH RANK 14 TH RANK 15 TH RANK 16 TH RANK 17 TH RANK 18 TH RANK 22 ND RANK 23 RD RANK 25 TH RANK 26 TH RANK 27 TH RANK 29 TH 173 m 172 m 167 m 159 m 151 m 141 m 228 m 225 m 217 m 214 m 208 m 201 m Weighted Comparison Goods Spend 259 m 290 m Total Spend 22 23
IN CONTEXT Commercially, Ealing is among west London s strongest and most forward-looking Boroughs and remains residents primary destination for comparison spending *. In 2015, local businesses voted to renew their Business Improvement District (BID) scheme, which will see a further 2.6 million invested in the town centre over the next five years. Ealing also commands great loyalty from both residents and visitors. It has an identity and character all of its own, with an established retailing base, excellent dining and entertainment, and more than 100 parks and open spaces contributing to its appeal. IS POISED FOR UNPRECEDENTED GROWTH, OPPORTUNITY AND SUCCESS. THE IDEAL PLACE, AT THE PERFECT TIME 9.6 Billion S TOTAL OVERALL CATCHMENT SIZE WILL BE WORTH 9.6 BILLION IN 2018 *Joint Retail Needs Study, updated in 2010 24 25
PROSPERITY Dickens Yard is specifically designed with prosperous professionals, educated urbanites and aspiring singles in mind, creating a large, ready-made customer base for the commercial space. The development is just a short walk from Ealing Broadway station and is ideally placed to become a focal point for high-income consumers from across Ealing, and further afield. DICKENS YARD WITH ITS ASPIRATIONAL FASHION, LIFESTYLE AND LEISURE TENANT MIX WILL BECOME S DESTINATION OF CHOICE 44 % (*CACI 2015) OF THE POPULATION ARE AGED 20-44* COMPARED TO 34% NATIONALLY 26 27
S SHOPPER POPULATION 65% OF S SHOPPER POPULATION ARE MADE UP OF 4 AFFLUENT ACORN GROUPS CATCHMENT 21% INCREASE IN S SHOPPER POPULATION BY 2018 Ealing s catchment area, particularly post- Crossrail, gives it a highly desirable shopper profile. Consumer numbers are significantly above the national average in key ACORN demographic groups, particularly: City Sophisticates (26%) Predominantly singles and couples without children, in graduate, senior managerial and professional jobs, earning above-average incomes and enjoying the big-city lifestyle. Executive Wealth (14%) High-income, financially-literate people, successfully combining managerial and professional occupations (around one in five will be company directors) with family life. Career Climbers (13%) Younger singles, couples and families with young children, with higher-than-average educational qualifications and incomes, working in managerial and professional roles. Successful Suburbs (12%) Stable, home-owning, financially prudent families, earning at least average incomes in a range of middle-management, clerical and skilled manual roles. 25% ACORN PROFILE VERSUS UK 20% 15% 26% 14% 13% 12% 10% CITY SOPHISTICATES EXECUTIVE WEALTH CAREER CLIMBERS SUCCESSFUL SUBURBS 5% UK UK UK UK (CACI 2015) City Sophisticates Executive Wealth Career Climbers Successful Suburbs 28 29
CLOTHING & FOOTWEAR + 11.9 57.1 2015 BASELINE DURABLE GOODS + 10.3 2018 UPLIFT 49.1 2015 BASELINE PERSONAL CARE + 5.6 2018 UPLIFT COMPARISON GOODS OPPORTUNITY ( m) 217m 2018 UPLIFT COMPARISON SPEND 38m UPLIFT (CACI 2015) LEISURE GOODS + 5.2 2018 UPLIFT 27.0 2015 BASELINE 24.1 2015 BASELINE PERSONAL GOODS + 2.7 2018 UPLIFT 13.0 2015 BASELINE HOUSE & HOME + 1.9 2018 UPLIFT 9.0 2015 BASELINE MARKET GAPS OFFERING HUGE POTENTIAL Dickens Yard is set to deliver an additional 38m in overall consumer spending in Ealing. The main driver is the 25% growth in premium retail space it will bring to the Borough, raising the total from 12% at present to 15%. Research indicates this will create a potential uplift in the shopper population of 18,000, including an additional 3,000 in the two most affluent ACORN categories. Closing these current gaps will see Ealing rise six places to 15th overall in the overall retail rankings for London boroughs. 38m UPLIFT IN COMPARISON GOODS SPEND BY 2018 (CACI 2015) 30 31
A REPUTATION BUILT ON EXCELLENCE As one of London s leading developers, multi-award winning St George PLC has in excess of 1.25 million sq ft of commercial accommodation in London. The company has an impressive reputation for placemaking and creating thriving, well managed, sustainable developments with impressive public realm. 1.25 Million sq ft OF COMMERCIAL ACCOMMODATION IN LONDON St George PLC is part of the Berkeley Group, a FTSE 100 company and rated the most sustainable of Britain s 25 largest housebuilders for the past eight years. The Group received the Queen s Award for Enterprise in 2014: it was voted Britain s Most Admired Company across all industries in 2011, and Housebuilder of the Year from 2010 to 2012. To view St George s past and current residential and mixed-use projects across London, including Dickens Yard, please visit www.dickens-yard.co.uk, or search for St George PLC. 32 33
TIMESCALES 2016 LAUNCH 2018 RETAIL, RESTAURANTS AND LEISURE TO OPEN WOODY BRUCE Email: woody@brucegillinghampollard.com Tel: 02035 515602 Mob: 07980 313675 MILLIE WILSON Email: millie@brucegillinghampollard.com Tel: 02035 515604 Mob: 07799 882850 EMILY ATKIN Email: emily@brucegillinghampollard.com Tel: 02035 515606 Mob: 07805 259793 IAN BARBOUR Partner Email: ian.barbour@knightfrank.com Tel: 020 7861 1223 Mob: 07970 681606 MIKE WIMBLE Partner Email: mike.wimble@knightfrank.com Tel: 020 7861 1569 Mob: 07764 348691 DAVID LEGAT Partner Email: david.legat@knightfrank.com Tel: 020 7861 5119 Mob: 07973 621292 ROWEN GRANDISON Partner Email: rowen.grandison@knightfrank.com Tel: 020 7861 5191 Mob: 07733 303121 34 35
DICKENS YARD IS THE NEW PREMIUM RETAIL, RESTAURANT AND LEISURE DESTINATION A RESURGENT DEMANDS. SECURE YOUR PLACE AT THE HEART OF IT ALL. 36 37
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