13 August 2012

FSP prioritises geographical potential for future outlet centres

FSP, Europe’s leading retail business consultancy, has identified the Ain department in the Rhône-Alpes region as the leading location for future outlet centre development in France. Postcodes such as Beligneux, Point-d’Ain and Meximieux have over 3 times national average ratio of Purchasing Power to outlet centre floor space provision within 90 minutes and benefit from excellent transport links and proximity to major cities including Lyon and Geneva.

FSP has created a postcode map of the strongest outlet centre development opportunities in France. The map identifies accessible areas with large populations and limited outlet centre provision including Lille, Mulhouse, Marseille, Saint-Étienne and Strasbourg.

Ken Gunn, FSP’s Director of European Consultancy commented, “France was one of the first countries in Europe to adopt outlet centres however, early concepts and locations did not always match consumer demand. It has also been very difficult to obtain Planning consent and as a result many substantial populations remain without access to a quality outlet centre offer.”

Although postcode sectors in Ile-de-France offer the greatest concentrations of population and disposable income in France, Paris is already home to 6 outlet centres, totalling nearly 100,000 sqm. The most significant development opportunities are located west of the city however, significant catchment overlap with existing centres means that the top postcode sectors are categorised as ‘Above Average’ rather than ‘High Potential’. Future developments such as Carré Privé Ouest and The West Paris Outlet will therefore need to have a differentiated proposition to draw consumers away from existing outlet centres and a quality management team to deliver strong trading performance.

The European Outlet Centre industry has seen significant growth in the last decade, with 30% of floor space less than 7 years old. As it becomes harder to spot geographical gaps by eye, FSP has assessed outlet centre provision across Europe to prioritised opportunities for future development.

There is a total of 515,000 sqm of outlet centre floor space in France. 62% of the French population lives within 90 minutes drive of an outlet centre and these residents have total purchasing power (disposable income) of €755bn.

The areas of Strongest and High potential on the map have at least 3 times greater Purchasing Power for each square metre of outlet centre provision than the French national average. A list of the highest priority postcodes is available from FSP.

FSP is one of Europe’s leading Outlet Centre consultancies. The FSP team has worked on more than 60 outlet centre projects in 25 European countries and has a wealth of experience in the assessment of shopping patterns, local consumer demand, trading performance, scheme feasibility and the proactive use of research to direct and support leasing and marketing activity. FSP plays an active role within MAGDUS (the European Outlet Centre Observatory) and ICSC Europe and is a regular contributor at international outlet centre conferences. Clients include Aviva Investors, Chester Properties, Henderson Global Investors, Hypo Real Estate, Immochan, McArthurGlen, Resolution Property, Rioja Developments, Trigon Capital and UBS.
 

For more information please contact Ken@fspretail.co.uk or call 01494 474740