Interest from national retail and leisure operators picking up

6 May 2021
  • Huw Thomas, Director Retail & Leisure, Cooke & Arkwright

Share this

The retail, leisure and hospitality sectors in Wales have faced some of the most challenging business conditions during the last 12 months, with the Covid pandemic, the changing profile of the high streets and the growth in online shopping.

Our Retail & Leisure team has worked hard throughout this period, securing multiple lettings, sales and acquisitions for clients, and was named Most Active Retail Agent in Wales 2020 by Estates Gazette for the second year running.

Director Huw Thomas provides his insight on the retail and leisure sector in Wales:

“We are delighted to have received this award for the second consecutive year.  It’s a testament to the team’s hard work and dedication over the last 12 months in what, for society has been extremely challenging conditions from both a living, working and a retail and leisure perspective. 

“Reflecting on 2020, to a large extent it was surprising, given the various lockdowns we endured, that any activity took place at all. We were particularly pleased to have been able to secure eight new shop openings for Greggs and two new drive-thru’s for Burger King during this period, as well as securing a whole host of other lettings and acquisitions across a number of high streets, shopping centres and retail parks throughout many parts of Wales. 

“As 2021 progresses and the anticipation hopefully, of some normality returning over the coming months, we are seeing interest returning from retailers and national restaurant operators. The latter are looking for fitted-out restaurants, and there is also interest from those wishing to create leisure uses in former and surplus retail accommodation. 

“However, with internet sales having virtually doubled from circa 20% to nearly 40% of all retail sales in the last 12 months, this will inevitably increase vacancies across high streets, shopping centres and retail parks. Therefore, the challenges facing the Retail sector will continue.” 

Cardiff Waterside is a significant property holding for Aviva Investors at almost 500,000 sq ft. Our experiences show the benefit of working with a regional specialist where occupational markets can be unlocked with a good team with excellent local contacts. Ben Bolton and his team have done this for us for many years and been fundamental to our success and a very low void rate in Cardiff.

Matthew Leach, Arriva Capital Waterside