As White City Gets Ready to Open Up Shop
Glenkerrin warns Ealing not to close the doors on their proposals
The message was stark at a recent Ealing Broadway BID event for local businesses - Ealing is in decline.
The turnout was unprecedented and with good reason. White City opens on October 31, Ealing Broadway is starting to look like a ghost town, and decisions have have yet to be made on both Ealing's major redevelopment proposals.
Amongst others Glenkerrin was represented at the event with its redesigned Arcadia proposals and a key part of their presentation was the impact of White City. Here's what we're up against:
•The centre will open with 5 anchor stores (Debenhams, House of Fraser, M&S, Next and Waitrose) combined with restaurants, a cinema and a gym, and will be a major retail destination.
•Jones Lang LaSalle have assessed the impact that White City is likely to have on Ealing Broadway using CACI’s gravity modelling tool.
•The predicted impact on Ealing’s comparison goods expenditure is -13%.
•An impact of 13% would reduce the Comparison goods expenditure of Ealing from £313 million to £272 million.
Glenkerrin went on to state that, should their Arcadia scheme proceed with c.200,000 sq ft of retail floorspace and a strong retail mix, Jones Lang LaSalle have estimated an increase in Retail Footprint score from the current score of 390 to 530, an uplift of 140.
This will increase the comparison goods expenditure from the post White City figure of £272m to £362m, an increase of 33%.
October 3, 2008