Search Trevor Wood Associates

Search Trevor Wood Associates

Surveyor As a surveyor, precise and reliable data is essential for delivering expert professional advice in the dynamic out-of-town retail & leisure, and shopping centre commercial real estate market. Our Definitive Guide insights platform stands as the UK's premier independent data and insights platform. It is trusted by surveyors to underpin everything from rent comparison during lease renewals, identifying new lease event triggers for new business, valuation, lead generation and more . With our extensive independent database and Definitive Guide insights platform at Trevor Wood Associates, we provide you with the data-driven tools to underpin the advice you provide. How The Definitive Guide Platform Helps: Lease comparison Lease event triggers Lead generation Find out more How we can help surveyors Since our establishment over 35 years ago, Trevor Wood Associates has been relied upon by surveyors focussed on out of town retail & leisure and shopping centre real estate across the UK. Our data and insights platform and Definitive Guide publications have provided the underpinning for rent reviews, lease renewals, rating and valuation. As well as being trusted by surveyors as a reliable new business source by allowing our users to identify lease date triggers. Our longstanding data history and extensive experience spanning decades has allowed us to provide the data insights that the surveyors who subscribe to our platform have come to rely upon. So whether you are advising a client on a lease renewal or a rent review. Valuing an entire scheme or a single unit. Or dealing with a business rates review or tribunal you can enhance the breadth of your data with access to our Definitive Guide platform. We pride ourselves on being a firm rooted in deep sector data expertise combined with the latest data technology and software to provide the data and analysis that helps turn big ideas into actionable insights. And above all, we're committed to building long-lasting success. We focus on deep well connected data and the tools built over decades to allow you to interrogate it successfully to help you deliver great advice when it matters. Get in touch with us to find out more. Get in Touch Comprehensive datasets covering the UK With over 13,000+ UK out of town retail & leisure and schopping centre schemes (containing 80,000+ units) covered and a history spanning 35 years, our data is extensive. Our data starts at scheme name and covers address, postcode, GIA, year open, planning consent, car parking spaces, tenants and lease information. Together with details of ownership, management and letting agents along with contact names and links to property and agent websites. All in one highly searchable package. Discover more here

Retail Industry Consultant In today's rapidly evolving retail landscape, success lies in reimagining store portfolios and retail networks. Retailers must adopt a strategic mindset, redefine their approach to real estate, and leverage advanced analytics capabilities to drive their vision forward. This requirement translates to supporting your retail clients with growth strategies, developing or rationalising their retail footprint, sourcing investment opportunities, developing perspectives on the future evolution of the sector. And much more besides. At Trevor Wood Associates, with our extensive independent database and Definitive Guide insights platform we provide you with the data-driven tools to support you in finding optimal solutions for your client across out of town retail and leisure and shopping centre real estate. How The Definitive Guide Platform Helps: Site finding Lease comparison Competitor analysis Investment appraisal Custom analysis Find out more How we can help retail & leisure real estate consultants Since our establishment over 35 years ago, Trevor Wood Associates has been a trusted partner for retail & leisure industry consultants across the UK. Our data and insights platform and Definitive Guide publications have provided the support for site finding and selection, real estate portfolio assessment and network optimisation, rent benchmarking and negotiation, competitor analysis and benchmarking, growth strategies, industry analysis and more. Our longstanding data history and extensive experience spanning decades has allowed us to provide the deep data insights retail consultants rely upon. At Trevor Wood Associates, we are dedicated to your enduring success. We go beyond surface-level solutions and short-term fixes. Our focus is on providing deep, interconnected data and analytic tools that enable you to extract meaningful insights. less raw data. More -so-what. With our expertise, you can deliver the insights your clients depend upon. Get in touch to find out more. Get in Touch Comprehensive datasets covering the UK With over 13,000+ UK out of town retail & leisure and schopping centre schemes (containing 80,000+ units) covered and a history spanning 35 years, our data is extensive. Our data starts at scheme name and covers address, postcode, GIA, year open, planning consent, car parking spaces, tenants and lease information. Together with details of ownership, management and letting agents along with contact names and links to property and agent websites. All in one highly searchable package. Discover more here

“Since the end of 2023, with even less development taking place but an increase in second-hand supply has meant the vacancy rate of Open A1 non-food units has risen to 5.8% from 5.5%. A further 3.1 million sq. ft. of space is currently under offer with another 632,000 sq. ft. earmarked for non-retail redevelopment, meaning the percentage of space actually available to let is as low as 3.5% .” Retail warehousing vacancy rates in the UK have risen, now at 5.4% at the end of Q3 2024 according to the latest research by Trevor Wood Associates (TWA), compared to 5.1% at Q2, 5.6% at Q1 2024 and 5.8% at Q4 2023. The major contributor to the increase in vacancy is Carpetright’s administration announcement on the 22nd July and subsequent closure. At the time their coverage included 214 units on retail warehousing schemes accounting for over 1,978,000 sq. ft. of floorspace, 172 part or whole units remain vacant accounting for over 1,626,000 sq. ft. of floorspace.   The Grocery sector continues to thrive on established parks or retail warehouse sites with Lidl opening 180,000 sq. ft. out of town while the food WAREHOUSE have added 152,000 sq. ft. and Farmfoods added over 159,000 sq. ft. of space to their portfolios. The usual suspects also continue to lead the way in taking vacant space, B & M have opened or have committed to open another 24 units and Home Bargains added another 339,000 sq.ft. to their portfolio. Pure Gym opened (or will open) another 252,000 sq. ft. and Sports Direct added another 6 units, Go Outdoors opened another 186,000 sq. ft. while Marks & Spencer and M & S Food Hall collectively added another 218,000 sq. ft. since the end of last year. The size of units and retailer requirements are also changing with over 444,000 sq. ft. of lettings in 2024 taken by retailers in units of 5,000 sq. ft. or below. We continue to see the rise of drive-thrus and drive-tos with Costa Coffee, Greggs, McDonald’s and Starbucks increasing their presence in the booming drive-thru market. After completing our analysis of the Q3 vacancy rate figure, Homebase announced their administration on the 13th November with 133 units on retail warehousing schemes accounting for over 4,598,000 sq. ft. of floorspace. The Range have committed to rescuing up to 70 of those units and Sainsbury’s have acquired 11 more with the possibility of a further 3 units which will help ease the impact of the administration. This may lead to a temporary spike in the vacancy figure but should be treated with caution as good quality retail warehousing space is in short supply and by the time we publish our Q4 figures in Spring next year it’s very likely a considerable amount of this space will already be let or under offer. Image credits: Nigel - stock.adobe.com

“ Since the end of 2023, with even less development taking place, second-hand supply has meant the vacancy rate of Open A1 non-food units has dropped to 5.5% from 6.0%. A further 2.8 million sq. ft. of space is currently under offer with another 691,000 sq. ft. earmarked for non-retail redevelopment, meaning the percentage of space actually available to let is as low as 3.3% .” ” Retail warehousing vacancy rates in the UK have once again fallen, now at 5.1% at the end of Q2 2024 according to the latest research by Trevor Wood Associates (TWA), compared to 5.8% at the turn of the year and 5.6% at Q1 2024.The major contributor to the significant fall in vacancy is retailers continuing to take advantage of the amount of second-hand supply made available by various administrations and CVA’s, so far in 2024 over 0.95 million sq. ft. of vacant space has been taken and 3.889 million sq. ft. in total has opened or is due to open this year. The Grocery sector continues to thrive on established parks or retail warehouse sites with Lidl opening 129,000 sq. ft. out of town while Iceland and the food WAREHOUSE have added 112,000 sq. ft. and Farmfoods added over 98,000 sq. ft. of space to their portfolios. The usual suspects also continue to lead the way in taking vacant space, B & M have opened or have committed to open another 20 units and Home Bargains added another 269,000 sq.ft. to their portfolio. Pure Gym opened (or will open) another 172,000 sq. ft. and Sports Direct added another 6 units while Marks & Spencer and M & S Food Hall collectively added another 177,000 sq. ft. since the end of last year. The size of units and retailer requirements are also changing with over 459,000 sq. ft. of lettings in 2024 taken by retailers in units of 5,000 sq. ft. or below. We continue to see the rise of drive-thrus and drive-tos with Costa Coffee, Greggs, McDonald’s and Starbucks increasing their presence in the booming drive-thru market. After completing our analysis of the Q2 vacancy rate figure, Carpetright announced their administration on the 22nd July with 214 units on retail warehousing schemes accounting for over 1,978,000 sq. ft. of floorspace. Tapi have rescued 48 of those units, totalling 430,000 sq. ft. which has helped ease the impact of the administration. However, the remaining vacant units have temporarily increased the vacancy rate to 5.9%. This figure should be treated with caution as good quality retail warehousing space is in short supply and by the time we publish our Q3 figures later this year it’s very likely a considerable amount of this space will already be let or under offer. Image credits: William - stock.adobe.com

Learn more from the highlights of our latest research. Navigating Through Change: Resilience and Recovery The landscape of the OOT market is showing promising signs of stability. In the face of shifting inflation rates, rising costs, and interest rate changes, resilience has been the industry’s hallmark. Our detailed review sheds light on this resilience, highlighting a sector poised for recovery. The rebasing of rents and prices marks a significant milestone, signalling a sector that’s ready to move forward. Embracing Opportunities Despite the challenges of 2023 in the retail sector, including CVAs and administrations, their impact on the OOT market has been notably less severe than in previous years, underlining the sector’s robustness and adaptive capabilities. Leading the Way: Key Players and Emerging Dynamics Investment Management: The ascendancy of American company Realty Income as a premier investment manager in retail warehousing signifies a shift in the major players investing in the sector. Retail Parks Leadership: Consistency at the top echelons, with Middlebrook Retail & Leisure Park and Castlepoint Shopping Park maintaining their premier positions as flagship destinations. Letting and Managing Agents: The continued dominance of Curson Sowerby Partners and Savills in their respective areas reinforces their positions as industry leaders. A Diverse Landscape: Regional Insights and Market Nuances: Our in-depth analysis extends to the unique market dynamics across the UK. Notably, some regional frontrunners in investment management carve their niche outside the national top twenty, highlighting the distinct characteristics of regional markets. Retailer Evolution and Market Adaptations: Adapting to Change: Retailers such as Wilko and Argos shed space.  Whilst the growth of entities like Pure Gym and Home Bargains signals other retailers are still taking advantage of available floorspace. Looking Ahead: Promising Prospects Vacancy Rates and Market Appeal: The downtrend in vacancy rates, now at 5.6% for Q1 2024. Development Pipeline: Despite a slight contraction in the pipeline for new schemes, the fruition of several projects in 2023 adds floorspace into the market. In Conclusion: A base to move ahead from Our 2024 edition of The Definitive Guide to Retail & Leisure Parks offers a deep dive into the sector's present state and potential future, serving as the industry resource to help you navigate out of town retail.  Your complimentary copy of the key findings is free to download and subscription options to our in-depth analysis and data can be found at www.definitiveguide.co.uk. Join us in this ongoing conversation. We appreciate all of your feedback and inquiries as we continue to lead the industry with our out-of-town retail and leisure coverage.