Landsec has launched a new lease offering for retail brands today (20 February), amid the “rapidly evolving needs” of traditional retailers and a rise in demand from digital natives.
The new offering is set to provide more flexible lease options for both retail and leisure brands. The new leases range from one day to three years, have lower initial capex requirements and will reportedly enable better use of data-driven insights for improved visitor experiences.
Landsec said it has been designed to make physical space more accessible to smaller retailers, independents and digital natives, as well as to provide more established, flagship brands with greater flexibility to experiment with new models and build integrated brand experiences.
The latest offering is made up of four packages: Home, Platform, Platform+ and Spotlight.
Its Home offering provides premium space for more established brands, ready for bespoke fit outs, and is available on 18 month+ lease terms. Meanwhile, Platform reportedly offers “agile” spaces, ready for a quick bespoke fit out, on shorter three -18-month lease terms.
Platform+ offers short-term, ready to launch, play and play brand activation spaces with “highly flexible” lease terms that range from two days to three months. Finally, Spotlight also offers highly flexible activation spaces in the common domain, with lease terms ranging from one day to three years.
The offer is being launched at Trinity Leeds, where the products have already been trialled for five months with luxury trainer retailer, Kick Game and gift store, Curated Makers. Landsec is set to later roll out the products across the rest of its portfolio later this year, with plans in place to expand to Bluewater in the summer and St. David’s in the Autumn.
Nik Porter, head of Retail Brand Management at Landsec, said: “It’s no secret the retail and leisure industry has witnessed deep-rooted structural shifts in recent years and the requirements for physical space have changed dramatically.
“A traditional, one-size-fits-all leasing model is no longer fit for purpose. Our new products reflect this new reality. There is something for brands of all shapes and sizes – from digital natives looking to ‘test the waters’, through to large, established names wanting to inject new energy into their brand experience.”
He added: “The product launch supports one of Landsec’s core objectives – to focus on major retail destinations, keeping the in-centre offer fresh and relevant for guests, as well as brands. It’s also in line with our new partnership, insight-led approach to retail; built on closer, more collaborative relationships with retailers and leisure providers, ensuring we create value for everyone.”
Megan Jones, founder at Curated Makers, said: “The Platform package has been a real game-changer for Curated Makers. It’s given us both flexibility and prime space in a busy, central location – a luxury many independents don’t get to enjoy this early on.
“What we offer is so different to what others bring to Trinity, we’re completely novel and are attracting new visitors which means everyone is able to benefit. We’ve already extended our lease and have been able to grow our partnership with Landsec as we grow as a business. We can’t wait to see where we go next.”