advertisement feature New Contender Emerges in
Retail Asset Management There can’t be many players in UK retail asset management that can boast a heritage dating back some seven-hundred years, but Wellington Market Company Plc (WMCo) can do just that.
over revenues from such sites. Now a mere three years on, the company
As its name would suggest, WMCo has been born out of a long association in running traditional markets . Anyone with an interest in the retail sector can’t have failed to have noticed that the once ubiquitous stall markets that were a feature of every town the length and breadth of the UK have been slowly eroding away as ever-more-discerning shoppers move into a branded culture. This change has been a key driver behind WMCo’s emergence as a serious contender in the retail asset management scene. The arrival of a new chief executive,
Malcolm Ball in 2008, heralded a new era for the company. It clearly needed to adapt to the changing face of the High Street and implement a programme of diversifi cation and modernisation – removing its reliance on outdoor stall markets and the ever- present threat that inclement weather held
has transformed its current assets - having introduced a raft of diversifi cation initiatives that have seen many new attractions added to its retail sites including family-oriented play facilities, Ofsted-approved childcare and nurseries and staging of external events – bringing in valuable revenue and footfall. Malcolm Ball
off ered an insight into their approach: “One of the key aspects of our drive for diversifi cation has been the introduction of the often-overlooked concept of Retail Theatre. We are making a shopper’s visit much more than a mere retail transaction – it’s an experience that will engage and delight the consumers – making them want to return.” “We’ve assembled an enviable marketing team that understands how to successfully engage with shoppers – creating strong brand identities that convey our core values to target audiences.” During its transition from outdoor
retail to indoor sites, WMCo secured a contract with the Ballymore Group for the operation of one of the UK’s best-loved shopping destinations - London’s historic Old Spitalfi elds
Market. The company’s role not only includes the day-to-day operation, but also the responsibility for marketing the entire site on behalf of the traders and tenants – helping them engage with shoppers. Having been fully renovated in recent years, the Victorian market hall off ers a mix of themed stall markets, high-end retailing, bars, restaurants and food kiosks that together, regularly attract in excess of 30,000 visitors on a Sunday alone. WMCo’s success has not gone unnoticed and has led to the company entering into leading roles in delivering its retail theatre for urban regeneration projects throughout England - including comprehensive retail asset management. Indeed Malcolm Ball will be putting his experience gained from his time at the
helm of Vinopolis – London’s wine tasting attraction – to eff ective use. He continued: “Our approach to asset management covers all of the traditional bases, but with our added insight from many hundreds of years in retailing and more recent concepts of Retail Theatre, we are gaining a lot of attention from retail site owners that need a partner with a fresh approach to breathing new life into their assets - at a time when it’s needed more than ever.”
Visit
www.the-pulse.eu for further information. Malcolm Ball - Wellington Market Company Plc Telephone: 01942 242 019
Email:
malcolmball@wellingtonmarkets.co.uk
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