Picture a medieval scene: it’s market day in one of Oxfordshire’s towns, possibly Banbury, or maybe Abingdon; the muddy town square is a maelstrom of sounds and smells as traders sell their wares to the locals. Now, fast-forward to our consumer age, and some of the shops in those towns might still look medieval, but retail activity is far less exciting. Agents are likely to find themselves letting tired shops to fast-food outlets and budget retailers rather than to high-street names.
The shoppers at places such as Bicester and Abingdon tend to get into a car on a Saturday and, if they do not fancy fighting for a parking space in Oxford, head either to Bicester Village outlet centre or out of the county, to Reading or Milton Keynes.
Over the years, retail developers have largely overlooked Oxfordshire’s smaller towns in favour of places with populations that can support prime retail draws. But, as residential development increases – Cherwell district’s population is forecast to increase by 10.2% – local councils are eager to see their new townsfolk catered for.
Indeed, developers and retailers seem keen to get Oxfordshire’s market squares buzzing with activity once more, and the county’s small towns could be in line for a retail-led renaissance.
Bicester is the prime example. Designer factory outlet Bicester Village attracts retailers such as DKNY and Calvin Klein, but the town centre attracts retailers very much at the other end of the scale. Now, however, it is in line for a £60m town-centre revamp, which could give its 30,000 residents reason to shop locally.
Banbury-based developer Stockdale Land has joined forces with supermarket giant Sainsbury’s, and is seeking planning consent for 250,000 sq ft of retail and leisure development. Sainsbury’s will anchor the scheme.
The timing is right, says Stockdale Land’s managing director, John Liggins. “In the past 10 years, there have been something like 2,000 homes built in the town,” he says, “so the district council came up with a competition for the scheme.”
With such a low retention rate of shoppers in Bicester, and few supermarkets, the council’s aim is to keep within the town those people out for their weekly shop. “Bicester is not going to be a major shopping centre as such, but it will satisfy a larger percentage of the day-to-day needs of local shoppers,” says David Marriott, property and technical services manager for Cherwell council. “A higher proportion of spend will be contained in the town.”
Local agent Liggins Thomas, of which John Liggins is a partner, is acting on the scheme. Associate director James Hill comments: “Rents in Bicester at the moment are around £45 per sq ft on the main shopping street, Sheep Street. We think they can rise to £60 per sq ft.”
Agents insist there is pent-up demand for space in Bicester. Chris White of Banbury-based White Commercial says that several developers came forward with schemes for the town, all backed by major supermarket chains.
What is happening in Bicester can, to some extent, be seen around the county. In Didcot, the Orchard Centre, a retail scheme anchored by Sainsbury’s and owned by LXB Properties, was opened recently. Both there and in nearby Abingdon, local councils have plans for wider regeneration and improved town-centre streetscapes (see panel above).
Agents already see more retailers being attracted to these towns. David Williams, head of offices and retail at local agent Berry Morris, comments: “Abingdon has never been too successful as a retail market, but this year we have seen Costa Coffee and Fat Face open there, which are important retailers. I think it’s the start of an upsurge in retailing in that town.”
Stockdale Land’s Liggins says the retail market in the county’s second-largest settlement, Banbury, has improved significantly following the redevelopment of Castle Quay shopping centre in 2000 by Pillar Property Group and Canadian finance company SITQ.
Hill of Liggins Thomas agrees, saying the Castle Quay scheme has precipitated something of a retail revival along the town’s High Street. “Moss Bros took a shop there six months ago,” he says. “Rents there have been £55 per sq ft for a while, and we should get £61 per sq ft to £62 per sq ft on upcoming deals on the High Street.”
It is unlikely that places such as Bicester and Didcot will ever attract shoppers from miles around, but what they could do is retain shoppers who want to head to the supermarket and hit a few shops at the same time, rather than pack the kids into a car for a major shopping day out.
Williams of Berry Morris says: “Retailers are obviously seeing that they can go to much cheaper sites in the market towns. And, with lots of residential development happening in places such as Abingdon, there are more people nearby.”
The retail market in Oxfordshire’s market towns has its limits but, for the moment at least, they are not being attained. Revamps, such as the one planned for Bicester, could be the signal that they are in line for a retail renaissance.
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Before 1996, Oxford Castle was perhaps the least desirable address in the city, not least because it was the home of HM Prison Oxford. What a difference a decade makes. Last November, it flung its doors open as a95-bedroom Malmaison hotel. A cell for the night now costs well over £110. This is the latest change of use for a site initially developed as a motte-and-bailey castle by William the Conqueror in the 11th century. The latest developer – not quite as militarily minded – is Trevor Osborne, whose £35m scheme has also delivered 40 apartmentsand eight restaurant and bar units, whichhave all let to operators, including Carluccio’s and La Tasca. This year, the developer also intends to establish a high-quality, open-air market at the castle site. Asked why he embarked on a scheme at such an unusual building, Osborne, chairman of the Osborne Group, explains: “It was irresistible. It is 5 acres in the centre of Oxford. It’s going to excite the area and bring a great deal of life to it.” Richard Dawtrey, partner with Oxford-based agent Cluttons, says: “It has combined good-quality residential development with A3 usage for really the first time in Oxford city centre.” His colleague Michael Watson says: “It’s early stages, but this could prove to be Oxford’s first proper mixed-use scheme that works.” This is the first sign of regeneration in Oxford’s west end – the somewhat overlooked edge-of-city-centre area which the city and county councils, along with the South East of England Development Agency, want to spruce up. It is good news for a market that has been waiting for signs of life. A key scheme for the area, Capital Shopping Centres’ long-awaited redevelopment and extension of Westgate Shopping Centre from 231,000 sq ft to 750,000 sq ft, has still not begun. It was back in 2002 that the ODPM turned down proposals for the scheme on the grounds that it would damage Oxford’s “historic heart” – a decision that was later overturned. Jane McFarland, group development manager with Capital Shopping Centres, says: “We are in the process of working on a detailed design for a planning application, which will be submitted in early 2006.” McFarland insists the new masterplan is a complete revision of the first and, if it gains consent, the company could start work on site in 2007. In the meantime, agents say the Oxford Castle scheme hints at things to come in the west end. Richard Stansfield, director with Savills, says: “The scheme is significant, and will start to bring the renaissance of the west end forward.” |
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Bicester Stockdale Land and Sainsbury’s are seeking planning consent on a £60m scheme encompassing 250,000 sq ft of development, a revamp of Sainsbury’s Crown Walk Shopping Centre, as well as development on council-owned land, including the market square, and land owned by Stockdale itself. A 54,000 sq ft Sainsbury’s supermarket alongside 25 shops is planned, with a 525-space multi-storey car park, leisure facilities including an Apollo cinema, and a bus station. Stockdale hopes to be on site early in 2007, with completion scheduled for 2008. Didcot Late last year, LXB Properties’ Orchard Centre opened. It contains a Sainsbury’s superstore, alongside a parade of 30 shops, including high-street names such as Next and New Look. Didcot council has wider regeneration plans which could eventually include a cinema, arts centre and multi-sports complex. Abingdon The town, county and Vale of White Horse councils have made proposals to improve the town’s streetscape and road network significantly to ease traffic congestion on the high street by as much as 50%. Wantage A major redevelopment of Sainsbury’s Limborough Road site in the town, in partnership with Master Property Trading, began last October, along with work on a petrol station, five large shops and a parade of seven smaller shops, linking to the town’s Market Square. Completion is due in spring 2007. |
