Norwich

Key Facts

Total floorspace: 1.7 million sq ft (161,090 sq m)

Missing retailers in central Norwich: Dolcis, Sony Centre, Coast, Swarovski, Foot Locker, Hobbs, Jigsaw, TM Lewin, Whistles, Lacoste, Molton Brown

Top five under-sized retailers in central Norwich: Debenhams (-45,194 sq ft), Marks & Spencer (-44,127 sq ft), John Lewis (-38,877 sq ft), TK Maxx (-15,594 sq ft), Bhs (-12,224 sq ft)

Top five centres that share the central Norwich total catchment: East Dereham (4 per cent), Norwich Albion Way Retail Park (2 per cent), Diss (2 per cent), North Walsham (1 per cent), Cromer (1 per cent)

Area of highest rental growth over the past five years: St Stephens Street (12 per cent)

Average rental growth over the past five years: 1.9 per cent

Source: Experian/rental data from Churston Heard

Two years after Norfolk’s only major shopping centre, Chapelfield, opened in Norwich, the development has been generating mixed reports.

One of the shopping centre’s biggest difficulties is that several key high street chains opted to stay on the Norwich high street. These include big footfall drivers, such as Topshop and Primark, which means shoppers can skip Chapelfield if they are in a hurry.

Roche Retail partner Adrian Fennell says there are 60 units on the market in the city. “Chapelfield created an oversupply of space and a lot of retailers located from sub-standard units to larger ones,” he says. “The result is vacant units in the city have been available for a year or two.”

Monsoon put its city centre store on the market nearly three years ago, ahead of its move to Chapelfield, but the retailer has been unable to offload it. However, Chapelfield itself has some units on the market because of disappointing trading. Retailers such as House of Fraser are understood to have found it more difficult than expected to steal shoppers from existing players such as Jarrold, the independent department store in the city.

Fennell says there are signs of renewed interest in vacant units in the city centre. The Soletrader store in the Back of the Inns areas has been let to HPJ Jewellers, while L’Occitane has taken another of the area’s vacant units. Animal has opened in Davey Street and Carphone Warehouse has relocated to a larger store in Briggs Street. “Rents are generally static in Gentleman’s Walk,” says Fennell.

However, he adds: “There has been negative growth of between 5 per cent and 10 per cent in locations such as Castle Street and Back of the Inns.”

Castle Mall, which houses H&M and New Look, is performing steadily. The centre is best known for its value proposition, proving that if developers can carve out a niche for their schemes, they can succeed in fending off competition from swanky new developments. Fennell says: “Castle Mall is earmarked for multiple retailers and has fared reasonably well. Chapelfield has not eaten in to its position and its rents are not overly expensive.”

Fennell forecasts more retailer interest in the city during the next year. “Norwich is one of the top 10 retail destinations and retailers need to be there. Lots have been sitting on the edge to see how Chapelfield beds down, but it is almost two years since it opened and the level of enquiries from retailers is picking up. The take-up will slowly improve and availability will reduce.”

Demographics

Population 880,554

Total retail spend£3.63 billion

Weighted shopper population 450,316

Index of population with internet access 102

Cars per household 1.15

Annual gross household income£29,801

Most over-represented occupation Skilled trades

Most over-represented age band 65+

Source: Experian