Landsec launches one-day leases to meet evolving retail landscape
Landsec has launched a new product offering for retail and hospitality brands to meet "rising demand from digital natives and the rapidly evolving needs of traditional retailers".
Made up of four packages: home, platform, platform-plus and spotlight, the new products offer existing and prospective occupiers shorter and more flexible lease options, reduced upfront costs, and access to data-driven insights from its centres.
The home package is designed for more established and traditional retail occupiers, and includes "bespoke fit-outs in the most compelling destinations" with lease terms starting from 18-plus months.
Platform also offers bespoke fit-outs for prospective occupiers but on shorter lease terms of between three and 18 months.
Platform-plus aims to attract and encourage digital brands to take brand activation spaces at Landsec shopping centres, with “highly flexible” lease terms ranging between two days and three months.
Designed for brands "in the common domain", Spotlight offers "highly flexible" activation space with lease terms ranging from one day to three years.
Landsec said the new leasing offer has been trialed for five months in its Trinity Leeds centre with luxury trainer retailer Kick Game and gift store Curated Makers. The new offer will now be rolled out to Bluewater in summer and Cardiff's St David’s this autumn.
Nik Porter, Head of Retail Brand Management at Landsec, said: "It’s no secret that the retail and hospitality industry has witnessed deep-rooted structural shifts in recent years and the requirements around 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.