Member Article

Upsurge in Retail across Sheffield City Centre

Sheffield based property consultants, Commercial Property Partners (CPP) has announced a current uptake in city centre retail space, indicating a new era for our high streets as we emerge from the pandemic.

CPP Director, and Sheffield Property Association Board Member, Rob Darrington comments: “Over the past few months we have seen increasing numbers of enquires for space in the city centre as businesses start to look beyond lockdown. This bigger picture indicates both a backlash to the pressure for retail to only focus online - and the start of a new retail age.

“Retail is a very dynamic sector, and one that has seen seismic shifts over the past few decades – weeks and indeed days. It is a constantly evolving arena to reflect new trends and match customer expectations, with our most recent information indicating a resurgence in popularity on the high street.”

Darrington continues: “There has been a need to rebalance the retail sector for quite some time, with the impact of the pandemic expediating the inevitable for many.

“The recent news that John Lewis will be closing their Sheffield store is not good news for local job losses, however, this is an opportunity the city needs to grab with both hands. For too long people have put too greater emphasis and importance on one single occupier. The demographics and expectations of today’s and tomorrow’s shoppers are changing. For a city centre to thrive it needs a retail customer that stays within a centre for several hours and spends in various stores, cafes and restaurants. Retail today is as much about the experience for the customer, as it is about the product on the self.

“Now is the time to build on the great work of Heart of the City II and the surrounding public realm, situated between the new Radisson Blu Hotel, Leah’s Yard and Cambridge Street collective food hall. We may be on the lower part of the regeneration cycle, but we are on the up, and although Rome wasn’t built in a day, at least we now have the ability to build and grow.

“One of the biggest growth areas we are seeing is the independent trade sector, with more innovative start-ups and interesting boutiques, cafes and bars coming into the marketplace: many born during lockdown. Indeed, the high street provides the visibility for new businesses to break through, to build a brand and receive real time feedback, which is the basis for ongoing success.

“Furthermore, a rebalancing of rent - and rates - as the post lockdown period nears is the shot in the arm the city now needs. This has come as much-needed relief, which in turn is opening-up the market in line with current lifestyle shifts and customer expectations.

“These current trends indicate that we need to take the high street back to the vibrant places where people want to live and work. People want to live near work and near to where they shop and enjoy leisure time. There is a current shift to ‘local’ and ‘community’. Now is the time to take ownership of our city centre again, with independent occupiers providing an alternative offering, which will give people many reasons to visit Sheffield. The high street is far from dead. The potential for Sheffield is there. It is ever evolving, and the future looks bright.”

This was posted in Bdaily's Members' News section by Ashlea McConnell .