June 30th 2020
Re-Purposing London’s West End - A New Dawn
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London’s West End - the World’s premier shopping and leisure destination, is starting its journey of transformation, as it re-opens its doors for the first time in months!
Lockdown saw three months of closure for most retailers, as consumers adapted to new ways of purchasing goods - essential and non-essential. Some to survive; though many to not. This has added momentum to the trend towards more online-based retailing (with Amazon style logistics centres), rather than visiting physical shops; resulting in a change in retail related Real Estate.
So, what is going to happen to the Capital’s jewel in its crown? How will it be re-planned and re-positioned? Physical Public retail space is less necessary and is becoming more experience-led. Key stakeholders in the area, convened by the New West End Company, are exploring their ambitions for the new face of the West End - with less physical retailing and more entertainment-driven, arts & culture, dining, hospitality, hotels and a whole re-evaluation of public realm.
There is estimated to be a move from as much as 30% less physical retail space over the next five years.
We welcome a superb panel, who can discuss the challenges and opportunities that the West End is facing. Jace Tyrrell - CEO of the New West End Company - the UK’s largest retail and leisure Business Improvement District (BID), representing the businesses and occupiers in the West End; Shelia King - Founder & Chief Executive of Shelia King International - an independent strategic retail advisor; Cllr Rachael Robathan - Leader of Westminster City Council and Brian Bickell - Chief Executive of Shaftesbury plc - a major investor in London’s West End and Freehold board member.
EVENT SPEAKERS
Jace Tyrrell
Chief Executive
New West End Company
Jace is Chief Executive of New West End Company, a leading business partnership for London’s West End, representing the people and organisations behind the world’s largest retail destination. It delivers management and marketing services to over 80 streets within London’s retail heartland including Bond Street, Oxford Street and Regent Street.
Its aim is to drive the change to create a truly unique and sustainable West End experience, unlock the barriers for economic growth and further strengthen the commercial success of the area with its 150,000 employees and £2bn annual contribution to UK GDP.
He leads the representation locally and globally of 600 businesses across retail, leisure and real estate in London’s West End with a property portfolio of £3.5bn and annual turnover of £10bn. He is a company spokesperson and member of the Board.
London’s West End attracts millions of visitors from around the world each year, making it a valuable destination for both investors and brands. Over the past decade New West End Company has worked with its members, partners and stakeholders to invest over £60m into the area driving the transformation of London’s retail heartland, improving public spaces, promoting inward investment and working with Westminster City Council, The Mayor’s Office and Transport for London.
Shelia King
Founder
Shelia King International Ltd
Sheila King is the founder of Sheila King International (‘SKI’) an independent real estate advisory business formed in 2014. Breaking new ground, the company was the first team in the UK to offer expertise derived from in-house landlord backgrounds.
SKI is retained by leading owners of prime retail and mixed use destinations from North America, Europe and the UK including Unibail-Rodamco-Westfield, Value Retail, The Blackstone Group, Triple Five, Macerich, Cadillac Fairview and London and Continental Railways.
SKI advises international landlords on strategy, emerging market trends, retailer insight and identifying key brands which make a difference to a destination.
Sheila is renowned for her visionary approach to prime retail destinations and her global connections. Throughout her career, Sheila has anticipated trends in retail mix, the growth of international brands and, ultimately, the emergence of the D2C sector. Within SKI, a specialist division was created in 2018 to focus on the emerging retailer scene including D2C brands.
Prior to creating SKI, Sheila spent 20 years as Group Leasing Director and New Business Director at Hammerson plc. Sheila led the leasing strategy for all nine of Hammerson’s major retail developments including Bullring, Birmingham; West Quay, Southampton; and Brent Cross and Spitalfields in London. At her time at Hammerson, she introduced the business to turnover rents and developed its strategy for international retailers.
Sheila’s journey of seeing shopping centres as a partnership between landlord and occupier began through her experience at Capital Shopping Centres (now INTU), at the time a leading shopping centre innovator. At 26, she was given responsibility for the leasing of The Glades shopping centre in Bromley, a scheme which, in the midst of recession, introduced the turnover rent model and the concept of a food court into the UK.
Brian Bickell FCA
Chief Executive
Shaftesbury plc
Brian qualified as a Chartered Accountant in 1976. He joined Shaftesbury when it was formed in 1986, and was Finance Director from the date of its float on the London Stock Exchange in 1987. He became Chief Executive in 2011.
Starting with £10 million of private capital in 1986, Shaftesbury now has a market capitalisation of c. £2.9 billion. It has assembled a portfolio of 15 acres of freeholds in the West End, comprising c.600 buildings, valued at £3.9 billion. Its ownership includes 590 shops, restaurants, cafes and pubs across 1.1 million sq. ft. in Carnaby and West Soho, Chinatown, Seven Dials and Fitzrovia.
Cllr Rachael Robathan
Leader
Westminster City Council
In 2010, Cllr Robathan was elected to Westminster City Council to represent the Knightsbridge and Belgravia Ward. Before becoming Leader she has previously held the Cabinet Member portfolios for Finance, Property and Regeneration; Housing and Adults and Public Health and was Deputy Cabinet Member for both the Adult Services and Customer Services portfolios. Cllr Robathan has also sat on the Finance and Children’s Policy and Scrutiny Committees and Planning Committees.
Cllr Robathan spent 20 years working in Investment Management, specialising in emerging markets. Cllr Robathan is also a Trustee of The Westminster Almhouses Foundation, a charity which provides sheltered housing to over 60s in the city and a board member for The National Lottery Community Fund.
Susan Freeman
Partner
Mishcon de Reya
Susan is a Partner in the Real Estate department. An experienced real estate lawyer, her in-depth understanding of the property market, the emerging world of tech and her business training as a Sloan Masters MSc (London Business School) graduate, combined with a wide circle of contacts is an effective combination. She is also the business development Partner for her department and uses her commercial know how and connections to benefit clients and the firm. Susan’s contacts help to make the firm’s programme of client seminars and events “must attend” networking opportunities.