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New Riverside is once in a generation chance to secure Shrewsbury as a retail destination- 28/07/2011
Shrewsbury has a once in a generation chance, with the proposed new £150 million Riverside development, to become a major regional retail destination, bringing jobs, growth and prosperity to the town, according to a leading Shrewsbury commercial property lawyer.
David Raymont, an associate in the Shrewsbury office of Shropshire law firm FBC Manby Bowdler LLP, says that despite any short term inconvenience during the construction phase the town should jump at the chance to take on the new retail development, revealed at a public exhibition last week (14 - 16 July), or risk losing out to other locations who are prepared to meet the ever changing needs of shoppers.
“Shrewsbury already has many retailing advantages. As a large market town with a reasonably pleasant environment and some interesting independent shops and national retailers, it attracts a healthy number of shoppers and there is still demand for retail units in the town centre,” says Mr Raymont, who, along with his colleague David Lucas, advises a number of local and national retailers on property matters including new leases.
“However, unless it grasps the opportunity offered in the new Riverside to secure a major anchor department store and other strong ‘high end’ national brands it will lose out to both local and national competitors.”
With shoppers increasingly looking for a day-long all encompassing retail experience, linked to good dining, leisure and general recreation, they are prepared to spend more than ever and travel further than ever, and many destinations are fighting hard to provide the right mix of shops, cinemas, theatres, restaurants and historic attractions to secure their share of the shoppers’ pound.
Mr Raymont says: “People from Shropshire are already travelling further to shopping centres like the new Cabot Circus in Bristol, which attracts more than 1.5 million visitors each month and whose design has been compared to that of the new Riverside centre, as well as to Birmingham’s Bullring to turn a shopping trip into a complete day out.
“Many High Streets are becoming bland and devoid of any quality on just about every level from the retailers themselves to the architecture. Shrewsbury has the chance to be different and better by building on its already appreciable historical assets and opening up the riverside area, to draw people not just from Shropshire, but from the east of Wales, Herefordshire, Worcestershire, Cheshire, Staffordshire, the Black Country and beyond.
“Just like any business, towns need to try harder when things are difficult. People are still spending money, but they are becoming more selective and they want an interesting and stimulating time when they do it. In the shape of the new Riverside Centre Shrewsbury has the chance to become a real retail destination attracting people for years to come. Let’s hope it grasps it with both hands.”
With offices in Shrewsbury, Telford and Bridgnorth, FBC Manby Bowdler is one of the largest law firms in Shropshire.