Retail warehouse parks at opposite ends of the A30 are transforming Cornwall’s shopping experience, according to sector specialists at Colliers International.
Retail Director Nick Turk said the established retail warehouse park at Hayle and the expanding scheme at Fraddon were ideally placed to draw customers from more than one town – as well as visitors passing through.
“Although a little further out from the main Cornish resorts, both centres are handily situated on the A30 – one of two main arteries for the majority of visitors to Cornwall – and equidistant from towns which might not individually have the clout to support the big name stores,” he said.
Hayle is within a short drive of St Ives, Penzance and Redruth, while Fraddon is nearer to St Austell, Bodmin and Newquay.
“Fraddon is becoming a destination in itself: a large new M&S will be welcome. It is a big-name retailer which will attract many people in those towns for whom the M&S in Truro and Hayle are too far away,” Nick Turk added.
“When added to the Next store and other out of town retailers, it will be appealing to a wide variety of shoppers.
“It’s a question of High Road rather than High Street, but these parks have created their own niche market which add to Cornwall’s critical all year-round, all-weather appeal.”
Nick Turk said although the recovery in retail remained patchy the shortage of quality accommodation was driving increased activity.
“Retail is all about destination and experience, but other factors such as aspiration, food offer and convenience will also pull in the shopping pound. Centres such as Fraddon and Hayle are recognising that and gearing their offering accordingly.”
“We know of some traders who used to occupy units on short leases at low rents – merely to ensure the landlords were avoiding empty rates and were getting some return. But the recovery means these occupiers are either having to pay the going rate or move elsewhere.
“Vacancy levels are very low and with rents in some centres rising to the equal of pre-recession levels but many parks are still suffering rents which have not increased for some time.
“Indeed, fashion remains a major draw and even the discounters have their place, generating high levels of footfall. As well as big brand shopping, many people take time to enjoy leisure, food and beverage outlets. This encourages dwell time and prompts the discretionary spend that retail centres rely upon.”
