See you next year MAPIC…


Sun, sea, and over 8,000 of the world’s leading retail real estate professionals; it could only be MAPIC 2015. Representing four clients this year – Unibail-Rodamco, IKEA Centres Russia, Nakheel and Design International – Innesco is showcasing the breadth of its international partnerships. With back-to-back interviews squeezed around a packed conference programme, Innesco has hit the week running, or indeed cycling in the case of Innesco’s MD Dan Innes who once again joined 50 other professionals in the annual 740km ‘Cycle to Mapic’.

The inclusion of Unibail-Rodamco’s stunning Polygone Riviera on the front page of MAPIC News’ Day 1, demonstrated the excitement this year surrounding Europe’s largest listed commercial property company. Having recently opened both Polygone Riviera and Mall of Scandinavia,  with a view to envy from its beachside stand, the group unveiled some of it’s highest profile development projects, representing a total pipeline of €8.2bn and 1.6million sqm. 

Also a client deemed meritable of making MAPIC News was IKEA Centres Russia. Part of the IKEA Group and the largest shopping centre operator in Russia, the company was pleased to showcase the result of phase one in its impressive €30m food court upgrade programme. Innesco’s involvement with IKEA Centres Russia’s developments was coupled nicely with a shopping world conference on Wednesday afternoon, which covered the growth of the Russian consumer market. 

 One of Innesco’s newest clients, Nakheel, held meetings both in the Palais and The Majestic, as the largest retail developer in the Middle East returned to the retail real estate conference. A developer that is famous for masterplanning and delivering global landmarks such as Palm Jumeirah, The World, Jumeirah Islands and Ibn Battuta Mall, Nakheel was unveiling new projects in the Middle East worth €3.7bn, representing a pipeline of over 1million sqm.

Also operating in the Middle Eastern market and moored up in Cannes Harbour was another one of Innesco’s clients; Design International. The Middle East, highlighted as a retail market that was both booming and subsequently growing, was also covered in Day One’s conference programme. There was an insightful debate into the demands of international retailers, and where they were best suited in the Middle Eastern market: between malls, outlets and high streets. Design International – celebrating its 50th anniversary this year – kicked off MAPIC’s first day  with a breakfast press briefing on its yacht, allowing them to sail right into the core of the discussion (and they certainly had a lot to discuss with two very exciting projects on the horizon). Recently appointed architects of the Avenues Mall, Silicon Oasis in Dubai, and of Avenues Mall, Sharjah, cemented Design International’s unique reputation as one of the industry’s leaders in retail architecture.

Four major,  clients, making a deserved impact amongst the world of property and retail; it’s clear that MAPIC 2015 has been a resounding success for the Innesco team.

 

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Innesco Ltd – Senior Account Executive/Account Manager Vacancy; PR, Planning & Public Affairs


Salary: £26-30k (SAE), £28-35k (AM) – dependent on experience

Start Date: Immediate

Location: London

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Innesco Ltd – Financial Accountant job description: 27th October 2015


This is a fantastic opportunity to join a specialist UK and international Marketing & Communications Consultancy as a Financial Accountant. In this role you get to build amazing relationships with existing customers and suppliers, partner with the communications and creative teams, as well as providing commercial insight and analysis to assist the Directors with commercial decision making and strategy.

What’s the role all about?

Would you love to take ownership of the financial reporting and planning processes of a forward -thinking, fast growing, international business? Do you thrive in a fast paced, creative environment and enjoy being part of an amazing team culture? If yes, we may have a place for you at Innesco.

What will my responsibilities be?

  • Taking ownership for the preparation of the monthly management reporting pack and ensuring the contents are timely, relevant, informative and accurate
  • Analysing financial performance and KPIs and contributing to the medium and long-term business planning/forecasting process
  • Liaising with customers, dealing with and resolving queries, including credit control
  • Establishing and maintaining effective working relationships with non-finance staff
  • Providing financial reporting and analysis to support key commercial projects
  • Reviewing and improving processes and controls
  • Preparing for annual statutory audits and liaising with external advisors during this process
  • Preparation, reconciliation and processing of returns – Corporation tax, PAYE & NICs, P11Ds and VAT
  • Completing balance sheet reconciliations – prepayments, accruals, deferred income.
  • Capital expenditure tracking and reporting

What skills do I need to have?

  • Strong technical accounting skill base – CIMA qualified or part-qualified accountant. Consideration will also be given to ACA/ACCA candidates with previous experience in industry
  • Sage accounting software experience would be helpful
  • Commercially minded and adaptable to the environment
  • A good communicator
  • Goal orientated and driven
  • A team player who is enthusiastic with a positive “can-do” attitude
  • Able to prioritise, multi-task and work on own initiative

What’s the earning potential?

  • We offer a salary of £28k to £38k depending on qualifications and experience

What benefits are on offer?

  • EE mobile 4G contract with iPhone
  • Free fruit delivered fresh to the office daily
  • Pension scheme
  • Private BUPA healthcare cover

Contract type

Permanent full-time. Part time by negotiation (minimum 3 days per week). Start date – immediate.

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White Rose Shopping Centre signs six in three months


White Rose Shopping Centre, Leeds’ leading out-of-town shopping centre, owned by Land Securities (client), has signed six diverse brands over the last three months – Tessuti, Yours, Pizza Express, Smiggle, EE and Schuh – all of which will be open in time for Christmas. The new lettings total more than 20,000 sq ft (1,858 sq m) of retail and leisure space, and reinforce the huge demand for space from brands in the continually strong-performing shopping centre.

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Polygone Riviera signs Reiss’ first French store


Unibail-Rodamco, Europe’s largest listed commercial property company, and Socri have announced today that iconic British fashion brand Reiss has chosen their 70,000 sqm (750,000 sq ft) lifestyle centre Polygone Riviera to open its first ever stand-alone store in France.

The 353 sqm (3,800 sq ft) Reiss store will command a prominent corner position at Polygone Riviera, and host the brand’s womenswear, menswear and accessories collections. Located in The Designer GalleryTM district – anchored by Le Printemps department store – Reiss’s modern, design-led take on fashion will fit perfectly into this new, ultra-contemporary area especially designed to showcase the very latest trends in fashion.

Polygone Riviera, the new shopping destination of the French Riviera, is due to open October 22nd inCagnes-sur-Mer. Itwilloffer customers apremium shopping,art and leisure experience in an attractive, open-air environment.

“With an exclusive offer, feel and location, Polygone Riviera sets a new standard for European shopping centres. We expect it to have huge appeal to people living in and visiting this beautiful area, and we see a real synergy and opportunity for our brand here. With over 120 stores worldwide and 9 stores and concessions across Europe, we are looking forward to launching our first standalone store in France this year”, commented David Reiss, Founder & MD – REISS.

Founded by David Reiss in 1971, the brand’s exceptional design, quality and value is favoured by the most stylish celebrities.

Eric Houviez, Director of Development/European Projects for Unibail-Rodamco said: ”Reiss is well suited to Polygone Riviera. We are very proud to welcome the new store to add to the mix of high- quality, aspirational and young brands”.

The Designer GalleryTM will also house Grand Playground – the first ever concept store created for a shopping centre. Taking over 400 sqm (4,306 sqft) at the heart of The Designer GalleryTM, Grand Playground will offer an eclectic mix of local and international designers displaying new cutting-edge products and fashions.

Grand Playground will also act as the Chief Editor of The Designer GalleryTM, directly in charge of the artistic and cultural line-up within this district.

Divided into four districts: Quartier des Saveurs, Promenade des Palmiers, Quartier des Arcades and The Designer GalleryTM, Polygone Riviera will house almost 150 stores and restaurants including & Other Stories, COS, Sephora, Mauboussin, Zara, Uniqlo, Bobbi Brown and a next-generation 10-screen cinema.

Polygone Riviera is being developed in a joint venture between Unibail-Rodamco and Socri.

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Aspire Development Management Ltd advises on Cheltenham John Lewis deal


Aspire (client) has acted on behalf of BlackRock Real Estate to secure an agreement to lease which will see John Lewis open its first department store in Cheltenham.

The plans for the Beechwood Shopping Centre in Cheltenham will see the entire centre converted into a new 115,000 sq ft  department store showcasing fashion, homewares and consumer electronics.

The shopping centre frontage is set to be redesigned as part of the scheme while the existing car park will be remodelled. The new development is expected to create up to 250 local jobs.

Hamish Macmillan, senior development manager at Aspire, said:

“We are delighted to be involved in this scheme which promises to reinvigorate Cheltenham town centre and attract both visitors and retailers to the area. We will continue to work alongside BlackRock, Cheltenham Borough Council and John Lewis to ensure we maximise the potential of this exciting project.”

Following the successful lease negotiations, Aspire will continue to advise BlackRock on the relevant planning applications for Cheltenham Borough Council before work starts on site in spring 2016. John Lewis is due to open in Cheltenham in 2017.

Aspire is providing its full development and project management services on the scheme.

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Business rates reform – a new dawn?


Like many of the most vaunted changes, the Chancellor’s announcement at the Conservative conference that he plans a radical overhaul of the business rates system throws up as many uncertainties as it does solutions. For many business groups and local authorities, these reforms have been a long time coming, and will lead to a much-needed revamp of a system that divorces local growth from local revenue and does little to encourage inward investment.

In line with the Chancellor’s vision of devolved regional governments and a ‘northern powerhouse’, his announcement this week will ostensibly loosen the grip that central government exerts on regions of the UK, giving councils the ability to incentivise growth in a way that makes sense for their area.

The most immediate concerns that have arisen in response to the plans focus on the risk that they will deepen the divide between richer and poorer councils. Some of the councils that have been the most vocal in campaigning for business rates reform are, unsurprisingly, those that already generate the most in business rates and have to stand by while their revenues are purloined by central government. These councils will no longer have to tolerate this revenue being redistributed via Whitehall to less affluent areas.

Conversely, some voices – most notably the new shadow chancellor – have raised concerns that poorer councils will be driven to a ‘race to the bottom’ in order offer the most attractive rates, dramatically reducing their income. Alternatively, some commentators have suggested that richer authorities could offer a discount to attract businesses to their area, to the detriment of less prosperous areas.

However, the safety net that currently exists is not about to be pulled from underneath less affluent councils, and the mechanisms to protect local authorities from these variables will undoubtedly form part of the ongoing structural reform of business rates and the consultations around these reforms.

The Chancellor’s announcement has also raised another set of questions relating to whether certain types of businesses will benefit at the expense of others. While the changes have been broadly, if cautiously, welcomed by the business community, there is a strong feeling that we need to see how this pans out before getting out the bunting. How will these reforms interact with planning regulations? Will established businesses, including retailers, lose out as councils seek to generate new jobs rather than protect existing ones? Currently these are all ‘known unknowns’ that will need to be meticulously worked through.

In the Chancellor’s own words, “I don’t know if it will work. But I do know that if you don’t even try you’re bound to fail.”

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Unibail-Rodamco transforms Centrum Chodov in Prague


Unibail-Rodamco [Client], Europe’s leading listed commercial property company, has unveiled its latest major extension project at Centrum Chodov, located in Prague, Czech Republic. Seen as one of the largest developments in Central Europe this year, the shopping centre will increase its size by over two thirds, up to 100,286 sqm (1,079,469 sqft), with new stores and concepts. It will become the unmissable retail and leisure destination in Czech Republic, when completed autumn 2017.

The centre’s annual footfall is expected to reach 16 million in the long term following the opening of the extension. Going from 61,000 sqm (565,598,5 sqft) to 100, 286 sqm (1,079,469 sqft), the new scheme will count 300 stores, the highest number of shops in a Czech shopping centre. Presenting exclusive new concepts, 23 of the new stores will feature 6 metres (19 ft) high shop fronts, crafted from a single pain of glass.

Centrum Chodov is well established shopping center in both Prague and Czech Republic. It sets trends and benefits from a very strong base of loyal customers, who consider Centrum Chodov as the best shopping option.

In the centre’s new extension, Inditex Group has signed new flagship stores for seven of its iconic brands – Zara, Massimo Dutti, Bershka Pull & Bear and Stradivarius – together with the two new brands, Oysho and Zara Home. H&M group will also be taking a new flagship store of approximately 3,000 sqm  (32,292 sqft).

Unibail-Rodamco’s latest fashion concept The Designer Gallery™ will further enrich the customer experience. The area is  designed to showcase the very latest trends in fashion and will offer customers the opportunity to discover young and dynamic designers and brands in a space dedicated to the fashion-conscious.

Leisure will also have a key role in the newly refurbished centre. Centrum Chodov will introduce a state of the art multiplex 4DX cinema with 18 screens, using the very latest visual and audio technologies, creating an revolutionary cinema experience in the country. Unibail-Rodamco’s Dining Experience will be a key feature at Centrum Chodov with 43 restaurants offering the best of local and international cuisine. The Dining Experience will create a friendly dining destination, providing original events and entertainment to its visitors whether cooking classes with renowned chefs, wine and cheese tastings or sushi and cocktail workshops.

Wagamama, the world renowned Japanese restaurant, will be a new addition to Centrum Chodov, taking 525 sqm (5,651 sqft). This deal marks the F&B operator’s first entry into both the Czech market and the Unibail-Rodamco portfolio.

“Centrum Chodov will take the Czech shopping experience to a whole new level. We are creating a new retail and leisure destination in Prague, allowing family and friends to spend quality time together in an enjoyable atmosphere, whether they are looking for best of fashion, great entertainment or international cuisine”, commented Arnaud Burlin, Managing Director Unibail-Rodamco for Central Europe.

Centrum Chodov is being is prepared for the“4 Star label”, the Group’s unique approach to exceptional service. Externally audited, the 4 Star lable sets ambitious targets at each stage of the customer’s shopping experience.

The car park will also have an additional 1,000 spaces, which will increase the  capacity to 3,400 spaces.

The renowned architectural firm Benoy has been commissioned at Centrum Chodov, with French studio Saguez & Partners in charge of the design. The centre will meet Unibail-Rodamco’s sustainability standards with a BREEAM VERY GOOD in asset rating and EXCELLENT in Building Management.

 

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#BCSC2015 – Through the eyes of Innesco


The Innesco team has just returned from BCSC 2015 in Manchester – an extremely busy couple of days full of meetings, seminars and fascinating topics of discussion.

The team captured a series of short films across both days at BCSC, together with a short preview film on Tuesday. The pieces, filmed, edited and pushed out through social media in a matter of hours, aimed to quickly show this year’s conference through the eyes of the Innesco team on the ground. They were extremely well received, with an average engagement rate of over 16%.

 

Preview – Tuesday 15th September 2015

 

Day 1 – Wednesday 16th September 2015

 

Day 2 – Wednesday 16th September 2015

 

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Unibail-Rodamco unveils visionary new shopping centre in Poland


Unibail-Rodamco [Client], Europe’s leading listed commercial property company, has today unveiled its latest major project – Wroclavia – a 71,000 sqm (764,000 sqft), shopping centre in the heart of Wrocław, Poland, representing an investment of €240m to be completed autumn 2017.

After having introduced several international differentiating concepts such as Hollister and Michael Kors in the Polish market, Unibail-Rodamco is creating a new truly iconic, modern retail and leisure destination in Poland. The centre will house the largest cinema of the city (including its first IMAX screen) and over 200 international and domestic brands.

Unibail-Rodamco has already signed 16 pre-lets with major retailers, taking a total of over 20,000 sqm (215,280 sqft) before the project had been revealed to the market. LPP Group will implement its six concepts including a Reserved flagship store, House, Sinsay, Cropp, Mohito and has also chosen Wroclavia to showcase one of its latest brands Tallinder. On its side, Inditex Group will open a major Zara store over two floors, on top of Zara Home, Bershka, Pull&Bear, Massimo Dutti, Oysho and a Stradivarius of over 600 sqm (6,458 sqft).

“At this early stage of the project, we are already seeing significant interest from major international brands, choosing the centre as the key location for their first or largest stores in the city. This illustrates the huge potential of Wroclavia, as we continue to innovate and enhance the retail property market level in Poland”, commentedArnaud Burlin, the Managing Director of Unibail-Rodamco in Central Europe.

In addition to the 64,000sqm (689,000sqft) dedicated to the best local and international brands, there will also be 7,000sqm (75,350sqft) of premium office space. Wrocław is one of the fastest developing cities in Poland, attracting global corporations such as Google, HP, Microsoft, Credit Suisse and Amazon. There is currently a huge demand for high-quality office space in the city.

Wroclavia will also host an array of leisure concepts and services, in line with Unibail-Rodamco’s commitment to providing its customers with a complete shopping experience of the highest quality. 18% of the GLA (12,780 sqm/137,560 sqft) will be dedicated to leisure and dining. It will include one of Unibail-Rodamco’s signatures – The Dining Experience; and a unique 20-screen cinema with a selection of VIP rooms. The company’s famous ‘4 Star Label’ – a unique approach which sets ambitious standards for improved quality at each stage of the customer’s experience – will be a key differenciator for the centre.

The centre will also showcase truly spectacular architecture, designed by IMB Asymetria, Polish architects based in Krakow. Its contemporary contours and materials will create a modern atmosphere that stands out as Wrocław’s premier shopping destination, and will enhance the city’s historic architectural style.

Its location in the city’s epicentre provides unrivalled access to both domestic and international consumers. With the largest city-centre car park in Wrocław (2,300 parking spaces), the immediate proximity of the main train station and excellent connectivity to Europe, Wroclavia is ideally located to enjoy high footfall and sales once opened in autumn 2017.

 

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