Get in touch

Get in touch

18 June 2015

Background

Redefine International is a FTSE 250 UK real estate investment trust (REIT) with a diverse portfolio of properties in the retail, commercial and hotel sectors. The Group focuses on sustainable and growing income returns through investment, development and asset management of commercial real estate in large, well developed economies.

The Customer Challenge

In the UK, Redefine International had identified challenges around effective sales data collection within its shopping centre portfolio. The team was looking for a solution to improve efficiency, accuracy and speed in terms of how sales data were collated. Key to Redefine International’s needs was information delivered in an accessible way to help the leadership team make critical business decisions.

FSP was approached by Redefine International to enable a new sales data process. Responding to this requirement, FSP created its Sales Trend Analysis and Reporting (STAR) platform, which is set to drive best practice in the industry around retailer sales data. STAR aims to provide clients with the performance information needed to manage retailers proactively, enabling them to become sector leaders in tenant relationship and sales reporting. It also helps to change the way shopping centres and investors understand and engage with retailers.

The Solution

Delivered via STAR’s bespoke web interface, data can be recorded, monitored and reported at retailer, merchandise category, centre and portfolio level. The user-friendly system offers secure, easy access to real-time, centrally hosted data, encouraging centres to capture their information in a time effective, consistent way. With improved visibility of retailer performance, portfolio managers can access additional analysis and insights through centre reports. Working together, Redefine and FSP tailored the platform to meet the REIT’s specific requirements, integrating the system into existing reporting formats.


Benefits and Results

6 months into using the STAR platform, Redefine International is seeing positive results for the portfolio, with increased levels of participation from retailers, better utilisation of resource at centre management level, and improved quality and integrity of data. This in turn is supporting strategic decision making around development proposals and seeking investment as well as driving sales and marketing evaluation.


Future plans

Like all products, STAR is grounded in FSP’s knowledge and understanding of retailers and shopping centre management, with the aim of enabling our clients to improve their centre performance and empowering them in their tenant relationships. FSP aims to maintain STAR’s core attribute of simplicity, whilst enhancing the reporting function with national and portfolio-wide benchmarks. Feedback from clients will ensure STAR evolves as an essential asset management tool.