Landsec launches new offer for retail in response to changing landscape
Commercial property giant Landsec has launched a new product for retail brands offering more flexible lease options.
Developed in response to “rising demand from digital natives and the rapidly evolving needs of traditional retailers”, the new offer is made up of four packages: Platform, Platform+, Home and Spotlight.
The new lease options range from just one day to three years and include lower initial capex requirements and “features to enable better use of data-driven insights, for an improved guest experience”.
Landsec said two of the products in particular, Platform and Platform+, “have been designed to make physical space more accessible to smaller retailers, independents and digital natives”.
However, it will also provide more established, flagship brands “with greater flexibility to experiment with new models - and build a truly integrated brand experience for shoppers”.
Within the product offer, Platform provides agile serviced spaces, ready for a quick bespoke fit out, available on 3-18-month lease terms; Platform+ offers serviced short-term, fully furnished, plug & play brand activation spaces. Lease terms are highly flexible, from two days+; Home offers premium space for more established brands, “ready for bespoke fit out, in the most compelling destinations”. Available on 18 month+ lease terms; and Spotlight offers “highly flexible activation space” in the common domain. Lease terms range from one day – three years.
“These four products mark the next step in Landsec’s journey towards a more customer-centric retail model and are the result of a collaborative consultation process with prospective brand partners of all shapes and sizes,” Landsec said.
The offer is being launched Thursday at Trinity Leeds, where the products have already been trialled for five months with luxury trainer retailer Kick Game. Landsec will then be rolling out the products across the rest of its portfolio at a later date, with plans already in place to expand to Bluewater and St David’s later this year.
Nik Porter, Head of Retail Brand Management at Landsec, said: “It’s no secret that the retail and hospitality industry has witnessed deep-rooted structural shifts in recent years and the requirements around physical space have changed dramatically. A traditional, one-size-fits-all leasing model is no longer fit for purpose. Our new products reflect this new reality. There is something for brands of all shapes and sizes – from digital natives looking to ‘test the waters’, through to large, established names wanting to inject new energy into their brand experience.”
Porter added: “The product launch supports Landsec’s strategy - focused on major retail destinations, placing the guest experience at the heart of what we do. It’s also in line with our new partnership, insight-led approach; built on closer, more collaborative relationships with brands, ensuring we create value for everyone.”
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