Collective thinking

When I took over the reigns as BCSC president in January, I knew that this would be a challenging year. After a period of considerable prosperity and growth, culminating in a landmark year of new centre openings in 2008, the industry has been forced to tackle some significant obstacles. Profit margins have been squeezed, occupancy costs have increased, and capital values have plummeted. We have also witnessed some high profile retail failures.

But it is not all doom and gloom. I have been surprised at how the industry has responded to these challenges on a number of fronts. We have seen an industry-initiated code to provide guidance on cost cutting and reducing service charges in the form of the 10 Point Plan, as well as a prominent industry-led campaign on the issue of empty rates.

The Government too, has taken some action to try and ease the burden on retailers and occupiers. Measures such as the business rates deferral scheme, and the pledge of additional funding for our most struggling town centres are welcome, but clearly, there is more that can be done.

At BCSC our broad membership allows us to take a more holistic approach and reflect on some of the fundamental transformations that need to take place, both within the retail property industry and in its relationship with the public sector.

By encouraging landlords and retailers to come together and engage in a meaningful way with central and local government, we are already making real progress in shaping future policy on occupancy costs and development viability. We have also begun to facilitate dialogue between the retail, property, and banking sectors to explore innovative solutions to the difficulties facing secondary centres.

This year’s Conference & Exhibition in Manchester will bring together much of our collective thinking on these issues, as well as topics like sustainability that we should not allow to fall off the industry’s agenda. As well as producing some lively debate, I hope it will be a useful forum for the sharing of ideas and developing our growing partnerships with retailers and public sector bodies, in order to support thriving, retail-led town and city centres.