Sharing knowledge: Martyn Chase, chairman of DTZ’s EMEA Retail and president of the British Council of Shopping Centres, shares his views on continuing training in the retail industry
Do property professionals take continuing education seriously? That is the question posed by Martyn Chase, chairman of EMEA Retail, DTZ.
“We all say we do, but how much really?” he asks. “We all have a key role to play in very substantial investments in property, which is generally a long-term game. This implies very good-quality decision making. But are we fully up to it?”
Effective dissemination
Chase believes that there is no doubt that the property sector invests massively in high-quality research, although effective dissemination is tough to achieve.
“Many property firms take training very seriously,” he says, “but take-up can be disappointing. Members of the RICS can probably past muster, if they happen to come along to check our CPD commitments – but does continuing professional development through education form a key objective in our appraisals? Is this seen by employers in the right way?”
For his part, Chase suggests that, in these more challenging times, commitment to the highest quality of knowhow is critical to achieving results.
“In my world of retail property,” he says, “we require an unusually wide range of skills to make a success of investing, developing and managing shopping centres. It is all about footfall, sales, rent and value.”
He explains: “Shopping centres are not just a property investment, they are a business and have to be understood and managed as a marketplace.”
Chase adds that this requires a deep understanding of the business dynamics for all the key players involved – retailers, investors, developers, local authorities and managers.
“I ask whether the development team really understands the key drivers for the retail business they are in partnership with,” he says. “I also ask whether the investor really understands the nature of the partnership between shopping centre, local authority and community that is essential for success.
“I venture to suggest that shopping centres are peculiarly complex – and I have chosen education as the theme for my year as president of the British Council of Shopping Centres for our 25th anniversary. This is because I believe this lies at the heart of the future for our profession, and BCSC has much to offer in this complex world.”
However, Chase is keen to emphasise that being BCSC president is only part of his reasoning. “I am passionate about property being a responsible industry,” he says.
Live, work and play
“People live, work, play and shop in the buildings our industry has created and manage,” says Chase, adding that being a responsible industry involves engaging with, influencing, encouraging and perhaps even educating the people who are served by its buildings.
“Shopping centres are at the hearts of our communities, and attract more than 120m visitors every week,” he says, “and I think they offer a unique opportunity to encourage education in the communities they serve through such things as the BCSC Shopping Centre Management Diploma.”
He concludes: “Our research programme is the main focus for BCSC funds. The recent Future of retail property report represented a £600,000 commitment to future thinking for retail property, and has been widely acclaimed.
“We are engaged in a number of research projects, including the Social Impact of Retail-led Development and the Impact of Shopping Centres on the UK Economy.”
Setting out his agenda for his BCSC presidential year, Chase has two key education initiatives
1. The opportunity for retail property professionals to take part in structured learning to extend their knowledge of our industry.
I particularly want to promote an understanding of the business dynamics between the different players – retailers, investors, developers and managers.
The time commitment for structured learning is, of course, difficult – so BCSC is building a programme that builds from CPD to Diploma and ultimately to Masters if you stay with it, with recognition in steps along the way. Ultimately, professional membership of a retail property-accredited association may be offered.
The unique idea is the building up of qualification and recognition over a long or short timescale, as suits, and at whatever level works for you – as distinct from one-off courses or an impossible commitment to long-term distance learning.
2. Shopping centres as a platform for community learning.
BCSC has a strong partnership with Business in the Community and we have had excellent feedback about our sustainability roadshow which toured shopping centres.
My new talent initiative aims to celebrate success in communities and to encourage more aspiration and learning.
BCSC and BITC are planning a talent week in shopping centres which will celebrate what local people have achieved, and show the opportunities that are available in the area to get involved – for young and old.
We hope this will form a valuable part of the nationwide programme promoted under the government’s initiative “Enterprise: unlocking UK’s talent”.
For further information, log on to the BCSC website: www.bcsc.org.uk/education.asp
