For the past two years the industry has bemoaned the amount of space coming onto the market. Cries of “too much space” and “retailers not expanding” have been heard up and down the country. While everyone eagerly awaits the plans for new shopping developments, they also adopt a cautionary view on how those plans will evolve.

We have now entered the opening phase of the main glut of developments. Two weeks ago, Land Securities’ Princesshay scheme in Exeter opened and next week will see the much-anticipated opening of Westfield and Hermes’ Derby shopping centre. Openings will run from now and throughout next year.

Yet while the doom and gloom merchants will point to empty units – and yes, there inevitably are some – the result is a far cry from the original sentiments. Nobody worried about Exeter – it has a rich catchment and there wasn’t too much space to fill. But property agents did worry about Derby.

On the surface, the Derby scheme seemed too big for the city and it had ruthless competition from nearby towns such as Nottingham and Leicester. Westfield has, however, delivered an almost-full shopping scheme. The majority of the major fashion names have taken space and it has even enticed some retailers such as Faith to open one of their new-format stores there.

Westfield may have offered incentives for retailers to come into its Derby scheme, but it has still delivered what it said it would – a good quality shopping centre with a full spectrum of retailers from Marks & Spencer through to value offers.

Multi Development UK’s Victoria Square in Belfast also raised a few eyebrows. While it signed anchor House of Fraser, the lettings seemed to be going slowly. When it opens next March, though, it is likely to be fairly full.

And the quality of retailers the developer has pulled in can’t be sneered at. The latest letting is Topshop, with a bumper 40,000 sq ft (3,715 sq m) store and it will sit alongside Reiss, LK Bennett, All Saints, Urban Outfitters and River Island.

Derby and Belfast will be successful openings, but it has not come without hard work. We shouldn’t be worrying about whether the space will be filled but rather concentrate on how the industry is changing. Retailers can’t promise to take space five years in advance now as their business is constantly evolving. And landlords need to be fluid enough to make changes right up until opening day in order to secure the right mix.

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