Ranked: UK retail centres of vitality

Westfield London , Chelsea and Knightsbridge are the most highly ranked retail centres in terms of vitality. According to Harper Dennis Hobbs’ report, The Vitality Index, Canary Wharf, Brent Cross, Richmond, Cambridge, Bluewater , Kensington and Bath are also in the top 10. In terms of the least “vital” centres, Dudley, Llanelli and Morecambe rank lowest. A number of smaller centres feature prominently in the vitality rankings. Harrogate in Yorkshire is the 96th biggest retail centre in terms of weighted spend, and it is the 20th most vital retail centre. Sevenoaks, Kent, features highly in the vitality ranking (28th) despite being a comparatively small retail centre. Marks & Spencer’s is set to open a new 29,000 sq ft store in the town centre. Greater London accounts for eight of the top 10 most vital centres. The London centres both attract large volumes of retail spend and are dynamic destinations – with low vacancy rates and a vibrant retail mix. Malls also tend to feature highly in the vitality ranking, owing to the fact that they proactively manage their tenant mix. Jonathan De Mello, head of retail consultancy at HDH, said: “This is the first-ever retail ranking for Great Britain to incorporate ‘vitality;’ taking into account the quality of retail provision in a centre. We will be releasing this research quarterly to track changes in the rankings and indicate which centres are improving and which are falling further into decline. “This key new metric for the market will be attractive to retailers and investors alike, as it enables them to assess which centres are growing fast in terms of the quality of retail, and as such where trading performance – and investment opportunities – can be maximised. No retailer should ever open in a location purely based on market size. The best-performing retailers plan their expansion by evaluating the quality of retail centres and the suitability of the centre to their brand.” annabel.dixon@estatesgazette.com