It was not all doom and gloom at last week’s Retail Week Property Directors’ Club, as you might expect in the present climate. Property directors were sounding a note of caution, but also enthused about certain projects and opportunities coming up this year.

One such project was Westfield London. While a couple of years ago the White City scheme was constantly having mud thrown at it, most retailers now seem to be embracing the shopping centre.

The rents have always been high at Westfield London and the developer has stuck to its guns. It may have bunged money at retailers via incentives and fit-out costs, but it has kept its nerve with the scale of rents.

But Westfield has made the scheme irresistible to retailers. It has got the usual gamut of retailers that are found at most new schemes on its floor plan, such as H&M, Topshop and New Look. Yet it has also done what it set out to do, in terms of attracting luxury retailers such as Louis Vuitton and international brands seeking to open their first UK store.

Attracting this calibre of retailer must have been hard work for Westfield. It has great international contacts and the cash behind it to make this work, but attracting new retailers in this climate is nothing short of a miracle. Westfield also claims it will open fully let this Christmas.

What’s more, retailers are getting excited about the look of the scheme. The restaurant and café area is shaping up to look like a vibrant space – nothing like what you would normally find in a UK shopping centre.

The only complaint that retailers seem to have with Westfield is the wranglings over store design. Retailers have been told they need to make sure their stores are to the highest standards in terms of design and push the boat out with fixtures and fittings.

Yet what Westfield doesn’t seem to realise is that retailers don’t have bags of cash to throw at store design at the moment. While any new store will be brand-spanking, retailers may not be able to put in added extras because of budget restraints.

Westfield should be applauded for creating a scheme that excites retailers, but it should also note the pressures that retailers are under. While maintaining the scheme’s standards, it should be making retailers’ openings a smooth process, in order that everyone is on board and fired up for the grand launch.

Topics