Trinity Leeds continues its success story with strong sales growth
TRINITY LEEDS has enjoyed an 18% growth in its total sales in the last 18 months, as it continues to build on the success of its launch.
The period covers that which followed the first year for the centre, which opened in March 2013 after five years of development.
Trinity Leeds was 95% occupied and welcomed 130,000 visitors on its first day, instantly integrating itself into the city centre and maintaining its initial momentum.
Addressing an audience from the International Council of Shopping Centers (ICSC), Land Securities’ head of retail project management Andrew Dudley said the centre had increased the sales from what it had replaced “by hundreds and hundreds of per cent”, and even since it opened as Trinity Leeds it has continued to show strong sales growth.
The ICSC was visiting Leeds to get a close look at the centre which won its 2015 VIVA Best of the Best Award, beating competition from new developments and refurbishments across the world.
The judges said: “Trinity Leeds fulfills that city’s ambition to become the region’s retail powerhouse. With its concentration of aspirational and highend retailers, it has introduced 46 new retail brands to the city.
“Land Securities Group’s transformation of an existing shopping location has created a stunning new axis—a retail and leisure destination uniting three of Leeds’ primary shopping streets under a spectacular, sweeping glazed roof.
“Developed during the economic downturn, Trinity Leeds has effectively generated a major socio-economic contribution to the region. In the process, it has created a new night-time destination, driving the city’s social scene.”
Trinity Leeds’ success and contributions to the leisure scene in the region are indicative of wider trends in retail.
PwC recently completed research with the Local Data Company, showing that Yorkshire had the lowest closure rate for shops in 4 years, with 174 shops closing in the half year to 30 June 2015.
Coffee shops, charity shops and convenience stores were among those growing at the fastest rate during the first half of 2015 in the region.
Madeleine Thomson, PwC’s UK retail & consumer leader, and Yorkshire consulting partner, said: “Closures in areas such as cheque cashing, women’s fashion and banks reflect the change in how consumers are spending and the increasing competition from online services.
“In the region, traditional shops continue to be replaced by leisure (food, beverage and entertainment) and services have continued to decline especially in the area of travel agents and financial services.
“As leases come up for renewal and town centres continue to diversify then further changes are expected for the foreseeable future.”
