Counting down the days – MIPIM 2017
While our suitcases aren’t even fully unpacked from MAPIC 2016 yet [click here to see our MAPIC film], our sights and agendas are already firmly set on preparations for our next trip to Cannes. This Sunday marks 100 days until MIPIM 2017 – coined as “the world’s leading property market”, and the Innesco team will be represented in full.
The four-day event (read five) runs from 14-17 March, and is an all-encompassing gathering of the property industry’s foremost leaders across all sectors ranging from commercial to investment. As our 10th year attending MIPIM, we know to expect a rewarding schedule – discerning panel discussions, engaging networking events, and revealing insight from the top players in our field. We are particularly focused on the insight the event gives us all – informing our decisions for clients in the weeks and months ahead.
Although this year’s event presents some uncertainty as major macroeconomic and global factors begin to develop revealing a changing international playing field, more tangible results are beginning to surface since the EU referendum decision, the US Presidential Election, UK business rates and the forthcoming European elections – notably France. If anything these recent factors make MIPIM all that more necessary, important and intriguing for the commercial real estate sector as the best in the business and captains of industry shed light and show their leadership on these more uncertain factors and the road ahead. Furthermore, the 2017 event’s theme is “A New Deal For Real Estate”, which will aim to address the impact of recent “geo-political and economic challenges facing the real estate industry” and identify potential new avenues for growth, stakeholders and opportunities.
Please contact our office if you require assistance for MIPIM – a robust and proactive action plan for the event will allow you to make the most of this once-a-year opportunity to access the market. You can also follow developments in the run up to MIPIM by following @MIPIMworld on Twitter, as well as our regular Innesco social feed at @Inn_Tweets.
Monumental MAPIC for Innesco
The Innesco team was out in full force at MAPIC last week as we represented seven clients, one of our largest groups yet, including New West End Company (R8.C19), IKEA Centres Russia (R7.E38), Tesco (P-1.K22), Meyer Bergman (R8.C9), JLL’s extensive Retail and Leisure team (R7.L15), Hines Europe and Groupe IDEC INVEST.
Our MD, Dan, got a head start on the team as he joined the Cycle to MAPIC team for the 4th year in a row in, cycling 740km from Girona to Cannes in aid of Coram‘s adoption programme and then launched into a jam-packed MAPIC programme! Although this was our 14th year attending the conference, this year’s MAPIC was slightly different from the following years due to our extensive client list, the varied events and the range of companies in attendance. This year’s theme was right up our street as it surrounded all things “trending” and many of our clients are involved in the promotion of cutting edge technology. The MAPIC Trend Hub boasted ideas for ‘offline to online’ integration, brought together experts in ‘retailtainment’ and curated a pavilion of pop up stands. It was exciting to see methods that we have already implemented as an agency, as well as possibilities for the future when sharing our clients’ and our own content. For instance, IKEA Centres Russia showcased their ‘Meeting Place’ and edutainment concepts whilst at MAPIC, whereas Tesco debuted its shopping centre portfolio app – Malls by Tesco – and Hines presented its digital brochure for Karl Johans Gate 45 in Oslo.
Of course, the retail property sector is multi-faceted and we had varied announcements during MAPIC. Apart from the technological updates mentioned above, IKEA Centres Russia released its financial results and provided an update on its investment programme as seen in major refurbishments throughout its centres’ F&B offers. We were also excited to be introducing Milen Gentchev as the new General Director.
Three of our esteemed clients, Meyer Bergman, Malls by Tesco and New West End Company, made their MAPIC debut this year. Meyer Bergman presenting its new branding at its very stylish stand in Lerin’s Hall while the asset management team was busy with new tenant meetings and media briefings promoting the diverse portfolio across Europe including high street, shopping centres and outlets. The Malls by Tesco team showcased its European projects and portfolio using its integrated and informative iPad app. New West End Company announced the West End would be the first Business Improvement District (BID) in the world to contribute £11bn to GDP by 2020, as well as hosted a speaker programme of five esteemed panels showcasing why the West End is where investment meets world class retail. Each sessions was broadcast on New West End Company’s Periscope (@newwestend), such as ‘Learnings from the world’s high street’ with Jeremy Collins, Property Director at John Lewis, Nigel Jobson, Property Director of Superdry, Mark Burlton, Global Executive Retail Occupier EMEA at CBRE, Darren Williams, CEO at T2 Tea, and Paul Souber, Head of Retail Agency London and EMEA at Colliers.
Per usual, JLL’s stand was bustling as it highlighted its retail intelligence and ‘Destination Retail 2016’ report revealing the top retail cities in the world including London, New-York, Paris and Hong-Kong. Outside the Palais, Groupe IDEC INVEST had chosen a Seaview suite on the 5th floor of the Martinez to present its new outlet destination in France – VIADUC VILLAGE and Hines Europe was meeting with premium and luxury retailers for Karl Johans Gate 45 – the 1,400 sq m, 3-storey retail hub in the heart of Oslo’s shopping and leisure destination.
Cannes becomes a 24-hour town during MAPIC and long after the Palais closed we were catching up with contacts and journalists from across the world. New West End Company kicked off the conference on Tuesday with an amazing dinner for 12 esteemed guests at La Mome just after the MAPIC Welcome Reception sponsored by Thor Equities. Wednesday evening, we were lucky enough to be hosted at various drinks receptions by Colliers, Meyer Bergman, CityCon, Atrium and Gazit Globe – not all at once though!
After another busy night, some of our team was brave enough to lunge into some sun salutations at Colliers International’s Beach Yoga at 7.30am. It was a great way to mix-up our usual networking mixers and find some calm in the MAPIC mania. On the final night of the conference, we had the pleasure of attending JLL’s Destination Soirée before joining the traditional closing party.
As a final cheers to MAPIC, we hosted our annual ‘Survivor’s Lunch’ at Astoux et Brun where we celebrated our happy clients, the successful event and our team’s great work! It was a phenomenal event and, after recouping last weekend, we’re already counting down until MAPIC 2017!More
Has a top Trump ever been so unwanted?
As Innesco’s resident American citizen, how can I ignore a historical event that happens every four years? Moreover, how can I avoid this election – an entirely baffling, unprecedented and, frankly, embarrassing series of months that erupted yesterday as Donald J. Trump became the 45th President-Elect of the United States of America.
I’ve never been a very politically charged person, but I find the rhetoric used in politics and its power to influence absolutely fascinating. As a graduate in Communications and Media studies, every presidential election – especially those from the Kennedy/Nixon 1960 campaign onwards – are captivating case studies in the American psyche, the power of persuasion and the influence communication and media have during these events. Of course, hindsight is 20/20 and both candidates had highs and lows on the campaign trail, but this is more of my thoughts on how Trump used language to capture the majority of America’s votes and how this will influence the US nad UK retail and property sectors.
Donald Trump used the same campaign tactic as Obama – hope & change. He preached to “Make America Great Again” but never defined how this would happen because it’s more powerful for people to project their hopes and struggles on to Trump. This is what happened with many voters these past months – they filled in the blank the Trump campaign left for them with Donald Trump playing the white knight by solving their challenges and easing their fears.
On the other hand, Hillary Clinton did not employ a slogan and the ones that she did were centred around her – “I’m With Her”, “I’m Ready for Hillary Clinton”, “She…”. Therefore, by voting Hillary you get Hillary. This isn’t the most successful campaign as she has a reputation (not seen by everyone, but a reputation nonetheless) of being disliked and untrustworthy in America. She needed to sell an ideal, not herself.
I’m not saying it’s justified – I don’t think it is, but from a communication and persuasion perspective, this is how I see it. It’s America and there are far more rural parts of the country than large cities. Many things, especially media, are aimed at the lowest common denominator and that’s what Trump did. Trump needed to aim for the rural, largely uneducated portions of the country for a few reasons –
- It’s a numbers game. A majority of the country is rural or suburban
- The educated elites would see the many cracks in his debates and find it hard to rally behind him
- It is easier to employ fear tactics on less travelled, cultured portions of the population
With the election said and done, how will President Trump (when will that feel natural?) influence the global retail and property market? Honestly, I don’t know. There are always uncertainties in large-scale national elections or votes – just like with Brexit – but I think this election has been more unsettling as we were rarely privy to Trump’s trade policy and when we were it was not kind to retailers.
The National Retail Federation is worried as Trump has relayed mixed messages regarding hiss trade policy for retailers. Previously, Trump has threatened to apply drastic tariffs to items made overseas, would increase prices for consumers, as well as have a negative impact on American department stores as most of their products are made in low-cost countries. On the other hand, there is speculation that Trump’s administration is in favour of reducing the regulatory burden on retailers and reverse the rigorous labour laws implemented during Obama’s presidency.
Moreover, the US retail and leisure sectors could be affected by Trump’s radical immigration reforms. If passed, Trump’s immigration plan would deport 5 -10 million undocumented immigrants – a fundamental demographic of low-end consumers and low-wage workers from the country. Regarding this concern, analysts at Morgan Stanley wrote, “We see Trump’s immigration policy as the biggest risk, largely because of the significant impact that deportation could have on consumer demand and labour.”
Answers aren’t any clearer across the Atlantic as retail and property authorities suspect the uncertainty surrounding US trade policies could drive investors to the UK. Leaders ranging from Walter Boettcher, Chief Economist at Colliers International, Naomi Heaton, CEO of London Central Portfolio, Ian Fletcher, Director of Policy at the British Property Federation and Johnny Caddick, CEO residential developer Moda Living have all commented that the UK could be seen as a safe-haven for international trade and investment. Having said that, Elisabeth Troni, head of EMEA research at Cushman & Wakefield, brings us back to earth, stating, “It’s temporary there: Trump will only be in for four years, whereas if you leave the EU, you leave the EU,” – meaning Brexit will have a more substantial impact on the UK investment.
One conclusion we can reach is that no one has a solid grasp on what the next four years hold.
Written by: Taylore Hunt, Account ManagerMore
Is the ‘selfish’ digital world as bad as it’s made out?
There is an on-going, feisty debate about e-commerce vs brick and mortar – often reminding us of the constant threat to physical stores. Chatrooms are filled with the inexorable march of online shopping and the convenience that the internet offers to consumers, enabling them to shop from the comfort of their own homes.
This has been exacerbated by retailer efforts to make it easier to receive your purchase through click and collect – or even drones as recently suggested by amazon – e-commerce is very tempting. Especially if we consider the myriad of online discounts and price-comparisons you can enjoy.
However, in common with the eternal debate about print vs online media where every other day we announce the end of the newspaper, whilst other aficionados proclaim that print is the only way to read, and in some sectors is in rude health (see sales figures of Private Eye). It looks like many of us are not ready to say goodbye to the old ways. And this is not just because we are old fashion or nostalgic, but more because as consumers we are practical.
A recent article from Rhiannon Bury at The Telegraph states that mobile app “near me” have doubled their searches in the last year, ‘as customers realise that buying something in their local town or shopping centre is faster than buying it online’. The article also mentions that the majority of shopping centres are integrated with local towns and are constantly evolving to include more than just shops, aimed at creating community spaces. A report by The Markey Creative has found that 75 per cent of consumers surveyed would not abandon the high street for online shopping.
This is great news to me and many of my colleagues. Isn’t it lovely to be able to rely on your local high street for food, clothing and services – it gives you the opportunity to spend time in your neighborhood, experience what it has to offer, and most importantly, for the economy to bring new jobs.
In an era where we cannot do anything without our phone or tablet, it is somehow reassuring that this ‘selfish’ digital world is not quite as bad as it’s made out.
Innesco partners with global omnichannel conference
The Innesco team is proud to be the official learning partner for Clariden Global’s “Omnichannel Retail Experience & Digital Transformation” conference in London next week held from 17-19 of October. The 3-day event will bring experts in the retail industry to London to investigate and share best practice and future trends within the world of cross-channel brand experience.
The West End of London is the window to global retail trends with the area having a reputation as a goldmine for retail & leisure innovations. As part of the conference, Innesco is hosting a curated tour showcasing pioneers of Omnichannel and customer experience within the retail industry. The tour will guide a group of 10-15 marketing and technology specialist from various sectors from retail and commercial property to automotive.
We will close the event with a highly interactive workshop where Innesco will help the group to turn new insights into effective business strategies for each participant’s individual brand. Our ambition is to leave the group full of inspiration and fully-abreast with the latest techniques in retailing. We’re truly exciting about this insightful day!
Find out more about the conference here
Connect in Cannes
Mapic 2016 came to life in London last night with an event at the Devonshire Club to present what’s new about MAPIC this year.
CEO Nathalie Depetro had flown from duties in India to be with some of the British contingent – mainly those new to MAPIC this year. The expectant crowd have just 40 days to go until the world’s no1 event for the international retail real estate market, and they won’t be disappointed. The emphasis was on a new vibrant programme, expert presentations, networking events, “Trends Hub” – the large new innovation area inside the Palais, the daily MAPIC News magazine, the 8,000 participants from 74 countries – and especially some of the new names signing up for the first time.
This is where Innesco comes in, as we are directly involved with organising the necessary arrangements and programme for three of the biggest names exhibiting for the very first time – Tesco, New West End Company and Meyer Bergman. Each client has a different agenda for the event, notably New West End, which is hosting an unmissable, world-class programme of talks and panel sessions from its stand up in the Lerins Hall, drawing on its superlative collection of flagship store brands, investors and innovators (watch this space for details!).
Our clients all recognise the intensive arena that MAPIC affords – with access to senior retail, investment and media professionals – all in the rather pleasant surrounds of the Croisette.
In a recent straw poll conducted for the New West End Company, MAPIC emerged as EMEA’s #1 event for the retail sector, identified by our clients and contacts around the world in four continents to be the premier event of the calendar.
Innesco has a significant team attending this year, with eight managers and directors in Cannes supporting various client objectives – delivering on our promise to help them do better business and build reputation. With fourteen MAPICs under our belt, we think we know the conference back to front, and how to get the most from the event.
If you want to know more about MAPIC, our involvement, work for clients, or for consultancy, do get in touch.More
Join Innesco’s celebrations!
We’ve been keeping busy here at Innesco, so busy sometimes we forget to take a minute to reflect on all of the amazing opportunities we’ve enjoyed!
Take a look at our collage below showing our many achievements this last year.
Can you name any of them?
Where did the Innesco team holiday this year?
Location: We went to Normandy for a fortnight to get away from the London lifestyle.
Why there?: A simple holiday we could enjoy some stunning beaches and dunes.
What you got up to?: Remarkably quiet given the height of summer and the sunshine – and also to browse and graze at the local markets with their fresh regional produce.
If I were to go back, I would change…French restaurant service can be abrupt or inefficient – then again it is world renowned; would we ever want to change that? Around the towns and villages of Normandy there’s always new experiences to take home and start the Autumn refreshed and reenergised!
Dan Innes, MD
Location: Our break was to the Cayman Islands for ten days, to catch up with some friends I hadn’t seen in a while and spend some quality time with my girlfriend and her family.
Why there?: What a place to relax and soak in the sun on sandy beaches with my loved ones! We managed to fit in some snorkelling, diving and thoroughly enjoyed visiting the turtles at a sanctuary. We were also lucky enough to have a few kayaks, the attached photo is one I took from a kayak in the waters just off our back door.
If I were to go back I would…pack more sun protection!
California & Wilderness Festival, Oxfordshire
Why there?: To visit family and friends
What you got up to?: Lots of BBQ and pool lounging around, saw our family’s favourite comedian (Brian Regan) in concert, Went to Disneyland (as you do), enjoyed wine tasting, botanical gardens, spoke at my local rotary club about being a Rotary Global Ambassador to the UK / at wilderness – camped, saw great bands like Glass Animals, Shura and Lianne La Havas, swam in the lake and danced a lot!
If I were to go back, I would change…In California, I would’ve packed less clothes so I could fit my dog in my suitcase and bring him back with me/ at Wilderness – remember to bring conditioner because my hair was a bit too ‘on theme’.
Taylore Hunt, Account Manager
Bali & The Gili Islands
Why there?: My brother and I thought where else better to catch some waves and rays but Indonesia’s most sought out travel destination.
What you got up to?: Our travels started as we ventured through the busier towns of Seminyak and Ubud where trips to local Balinese food markets and spas satisfied both our appetites and inner zen. In Ubud, we managed to visit their Sacred Monkey Forest sanctuary, cherish a morning wash with some elephants, trail to find the hidden Tegenungan Waterfall as well as climbing the active volcano Mount Butur! In stark contrast, our time on the Gili Islands was mainly spent soaking up the sun on their beautiful white sand beaches, with a spot of diving around their Turtle Bay proving to be best experience of the trip!
If I were to go back, I would change…the time it took me to decide if I wanted to go diving! Had I of known that I was going to see around 15 turtles amongst schools of the most colourful fish I could imagine, I wouldn’t have wasted any time…or air!
Callam Atwal, Account Executive
MAPIC 2016 – 100 Days to go
With Olympic fever hitting the nation, it’s hard to believe anyone is talking about anything other than the first GB gold medal in Rio. Here at Innesco HQ though, our sights are focused on a different world stage – more specifically MAPIC 2016, as today officially marks 100 days until the starting pistol, and there’s not a moment to lose.
While November seems an age away in this August heat, it’s no surprise we’re already in full swing planning for MAPIC. We are proud to announce we will be flying the Innesco flag high at MAPIC this year as we represent many of our clients, including IKEA Centres Russia, London’s New West End Company and Tesco International Properties to name a few.
For Innesco team this will be its 14th year attending the conference, with this year set to be another busy and engaging event. We’re eager to hear more about this year’s central theme ‘online to offline’, the launch of ‘Trends Hub’, the bringing together of experts in ‘retailtainment’, as well as a pavilion of pop up stands to allow new retailers an opportunity to introduce themselves on a truly global stage. Here’s to MAPIC 2016, 100 days and counting…
If you want more information on how Innesco can help you do better business at MAPIC, please get in touch.
Otium acquires the Theatre District, Milton Keynes
Otium Real Estate announces today they have completed the purchase of the Theatre District scheme in Milton Keynes, UK, from UGS MK Limited for a price of £16.75m GBP (sixteen million seven hundred and fifty thousand pounds). The 109,000 sq ft Theatre District is the first in-town leisure purchase by Otium, joining out of town leisure assets within their portfolio such as Newport Leisure Park in Newport and Westgate Leisure Park in Wakefield.
The existing Theatre District leisure scheme comprises of 16 units, which includes tenants such as TGI Fridays, Zizzis, Bella Italia, Revolution de Cuba and the Slug and Lettuce. The asset is located in a key 3.3 acre site in the heart of Milton Keynes, between the Centre:MK shopping centre and Xscape snow slope. The scheme also adjoins the successful 1,400 seat Milton Keynes Theatre, which features many West End Shows.
This central area in Milton Keynes is seeing major development with a new art- gallery, art-house cinema and 1,400-space multi-storey car park to be constructed on sites around the property in 2017/2018. UGS have just started constructing a new 130 bed Premier Inn adjacent to the Theatre District scheme that opens in the summer of 2017.
Ashley Blake, CEO of Otium Real Estate said: “The acquisition of this significant leisure asset is a major step forward for Otium Real Estate. The scheme has a varied tenant mix, appealing to all age groups within Milton Keynes. We are looking forward to refurbishing the Theatre District, and welcoming new tenants to the centre of Milton Keynes.”
Otium will now commence a comprehensive refurbishment programme to enhance the 1990s scheme, and are in detailed discussions with new tenants to take space in the scheme.
Patrick Punch & co. acted for Otium, UGS MK Limited were unrepresented.