“I am not surprised that Bishop’s Stortford has appeared as a retail hotspot in a National survey” says Commercial Director, Richard Roberts of Mullucks Wells in response to a report published this week..
Bishop’s Stortford came ninth in a survey to establish the top 100 retail hotspots outside central London, with the nearest geographical competitor being Loughton which was 33rd.
The survey, which was carried out by location specialists CACI and reported in Property Week, used a number of different data sets to arrive at its results.
Bishop’s Stortford scored particularly well, based upon growth prospects, the impact of future projects and market share, compared to other similar destinations.
Richard Roberts says that “scoring well in the survey will have a bearing on retailers looking for space in the town and is a good indicator that the town’s retail fortunes are about to change.
This change has started in North Street where large space, traditionally occupied by independents, has given way to the larger multiple retailers and restaurant chains. The town is coming out of recession and is aligning its offering with the changing demographic of the town as more younger people with disposable incomes are moving into the town. The result of this changing population and its general catchment, has resulted in the opening of Unico, the upgrading of Café Rouge to Carluccio’s and will be supported with Bills & Cotê who will occupy space in the old Pearsons department store.
Presumably to generate more interest in the town, the restaurant chain Wagamama placed an advert in the magazine that commissioned the survey indicating that Bishop’s Stortford was a target town for them for the creation of a new 3,000 sq ft restaurant.
Fresh news concerning the Henderson Development along Old River Lane, is scarce, but the scheme as proposed with hotel, cinema, shops and restaurants is likely to bring recognised premium brands coming into the town.
Other towns that scored well in the survey have modern schemes that have a strong mix of retail, catering and leisure and this is important in attracting the younger, more affluent shopper who is likely to be attracted by good quality retail and catering and are likely to linger in the town centres long after the shops have closed.
Read the full report here.