Examining the Impacts of a New Regional Inner-City Retail Development on Liverpool’s Existing Inner-City Shopping Centres and Other Retail Areas
The retail sector is a major contributor to the Gross Domestic Product (GDP) of the UK and is one of the world’s most competitive industries. Its development in the UK has seen it expand dramatically and these changes are of particular significance in regard to retailers in traditional town and city centres. The publication of the National Planning Policy Framework (NPPF) in 2012 set out the government’s objectives for town centres. The key strategies from the paper were to promote their vitality and viability by planning for their growth and development as well as promoting and enhancing existing centres. The main focus of the policy however was to promote a ‘town centre first’ approach in regards to new retail development. Liverpool is one of many UK cities who have recently experienced a new inner-city retail development built alongside existing inner-city retail areas, in particular, through the building of Liverpool One. Opened in 2008, Liverpool One was built to not only offer a new retail experience in the city, alongside the established inner-city retail areas, but to also enhance the existing city centre retail areas through retail-led regeneration. The overall aim of this research is to examine the impacts that have arisen in regard to the opening of Liverpool One in particular, the impacts that this new retail development has had on the already established inner-city retail areas. A mixed methods approach was adopted; a questionnaire was developed to investigate existing retailers’ sales levels and vacancy rates and changes of occupation were measured using Goad maps. Semi-structured interviews were also carried out with existing inner-city shopping centre managers. The findings of the research suggest that the opening of Liverpool One impacted on existing retailers and shopping centres through a loss in annual sales, alterations in footfall patterns, fluctuations in vacancy rates, and changes in occupation of retail space. However, the scale of impact varied between retail areas within the city centre and the economic recession at the time of the study may have also been a contributing factor to these findings. This research informed the development of a set of recommendations to be used as a possible industry tool when incorporating a new regional inner-city shopping centre into an existing town or city centre.
HD28 Management. Industrial Management, TH Building construction
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