Does the thought of having a little artisan bakery near your home fill you with delight? What better way to start a Sunday than with an autumnal walk to the local deli. Sitting at a scrubbed oak table surrounded by the aroma of fresh bread whilst enjoying speciality coffee, home-cooked or baked breakfast , a relaxed read of the newspapers and exchanging a cheery good morning with your neighbours.
I'm not the only one to dream of such an idyllic lifestyle. Recent research carried out by CBRE finds that there is a growing a desire for nearby local independent stores, rather than large chain stores. It therefore follows that new developments should have some retail units, and there is scope for small businesses to flourish.
Of those surveyed by CBRE, 70% wanted a local coffee shop/patisserie, whilst only 54% would prefer a supermarket.
CBRE head of residential research Jennet Siebrits says the survey highlights the necessity of offering retail in new developments and the crucial role that retail plays in placemaking opportunities. Jennet also notes that the “Waitrose effect”—the arrival or presence of a Waitrose or another premium supermarket chain—reflected a certain level of affluence, but CBRE is now seeing more growth and engagement with smaller micro-chains and artisan stores, such as small bakeries, delis, premium butchers, florists or boutique stores. In fact, 65% of the survey participants agreed independent stores were preferable to large chains.
https://www.bisnow.com/london/news/retail/the-key-to-high-residential-property-values-food-lots-of-food-66463?utm_source=MorningBrief&utm_medium=email&utm_campaign=20161019_london_morningbrief&be=penny.joshi%40howardkennedy.com
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