Retail Park owner says fewer visitors but spending is up
The owners of Newbury Retail Park have given an update on how things are panning out.
BMO Real Estate have said the majority of retailers at the Park have reopened while the car park is consistently operating at around 60% capacity. Their Solihull site is reportedly 80% of capacity.
At the same time, “Customer numbers are down but average spend is up and where our tenants have both retail park and high street stores, they are reporting stronger performance from the former.”
An update from Stockhouse also reports: “The construction work at Newbury Retail Park has continued throughout the last three months in accordance with Government guidelines and all units have now achieved practical completion. The unit to be occupied by Lidl was handed over in June and the tenant is fitting out with a target opening date in early Autumn 2020.”
It was also recently also revealed that Parkway is back to 80% of regular footfall.