6 ANALYSIS
Gathering of the King Sturge clan
Managing agent King Sturge brought its centre management teams from across Europe for an annual update and training session at its London headquarters
on behalf of clients. By way of illustration, he highlighted how retailers had fallen foul of the Regulatory Reform (Fire Safety) Order 2005 and Control of Asbestos Regulations 2006, and referred to a number of high- profile cases that were still pending. King Sturge head of research Angus
McIntosh rounded off the morning session with an insightful look at the Green Agenda and how this currently affects shopping centres, from the Green Deal, through CRC and feed-in and renewable energy tariffs to the overall carbon footprint. “Energy Performance Certificates are
King Sturge is continuing to grow its profitable shopping centre management business despite the challenging market conditions, shopping centre managers from across the UK were told last week at an in-house conference organised by the firm at its London headquarters. More than 40 people attended
King Sturge’s third annual shopping centre managers’ conference including representatives from the schemes that the firm manages. John Michell, head of shopping centre management at King Sturge, said that the firm was continuing to add new schemes to its portfolio which now totalled 30 in the UK and 25 within Central and Eastern Europe. Nick Lees, head of asset management at
King Sturge, told the delegates that despite these very challenging times, there was still healthy demand for shopping centres and therefore room for cautious optimism. New management business wins
included Grand Arcade, Wigan, which was bought last year by Redefine; Fremlin Walk, Maidstone, purchased earlier this year by Legal & General; Premier Outlets Center, Budapest; Charter Walk, Burnley, for Addington Capital; and Trinity Walk,
Wakefield, for which King Sturge has provided set-up development consultancy and will be managing agents for Sovereign Land and Area Property Partners when the new centre opens in May – the only new shopping centre to open in the north of England this year. King Sturge’s shopping centre
management team totals 85 people, a number which will shortly increase with the addition of a new team in Glasgow headed by Neil Ritchie. It has also recently launched a new marketing and commercialisation service, fronted by Nick Beckett, and is looking at ways of ‘raising its game’ still further to provide faultless property management The theme of excellence in the shopping
centre environment was continued by guest speaker Alf Dunbar, creator and founder of customer service coaching programme You are the Difference. He used various lively examples to demonstrate how a bad retail experience for the customer could lead to a lifetime of lost sales to that retailer or shopping centre. Fire and asbestos were the twin
disasters that speaker Paul Verrico of Eversheds had to navigate on a daily basis
SHOPPING CENTRE February 2011
www.shopping-centre.co.uk
here to stay and may be required for all renovations in the future, and the display of Energy Certificates may become mandatory,” he warned. “The Carbon Reduction Commitment
is likely to turn into some form of tax; units will no longer be tradeadble,” he forecast. “However, exactly when the CRC comes into force is still unknown.” And he said: “The Feed-in Tarriff for
those generating thewir own electric power started in 2010 and the Renewable Energy Tarriff is likely to start in 2011, encouraging expenditure on green projects.” “Energy savings must not be viewed in
isolation,” he concluded. “You need to look at the whole picture and complete lifecycle of costs. A busy shopping centre, despite its high energy costs, is relatively efficient because it generates high sales densities.” The afternoon session of the conference
primarily focused on a retail update brief from Charles Miller, head of King Sturge retail agency, and group activity. The day ended with the presentation of a bottle of champagne to the best shopping centre newsletter, awarded to Lloyd Wright, centre manager of Fremlin Walk in Maidstone.
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