The landscape of shopping centre asset management is undergoing a significant transformation. Gone are the days when the primary focus was merely on leasing out space as quickly as possible. Today, retail destinations like Festival Place are pioneering a more curated experience, facilitated by a symbiotic relationship between landlords, centre management, and tenants.
Managed by asset management specialist Sovereign Centros, Festival Place ranks among the top 25 centres in the UK and has garnered a reputation for fostering enhanced relations with its occupiers. In our upcoming Q&A article, key members from the centre’s business performance and marketing teams share their insights on this innovative approach.
Rachel Carter and Kayleigh Pistell from the business performance team, along with Sian Fisher and Emily Palmer from the marketing team, delve into the strategies that have elevated leasing and tenant liaison efforts in recent months.
How has the relationship with retailers evolved over time at Festival Place?
Rachel Carter: Historically, the relationships between centre management team and retailers was a one-way street. In essence, centre management dictated terms and retailers had no choice but to follow suit. This attitude has shifted immeasurably in recent years as centre owners, management and occupiers have begun to work more collegiately to create places and experiences that shoppers want to visit. At Festival Place, we have always made a conscious effort to break away from the traditional mindset. Instead of maintaining a segregated approach, where centre management teams distanced themselves from retailers, we have chosen to encourage more collaboration. We dress and speak in a way that promotes a sense of unity with retailer and breaks down the “them and us” mentality. Instead, we work tirelessly to create an atmosphere of collaboration and teamwork. Retailers like how engaged everyone is, and they definitely feel well taken care of. We are proud when we hear that the centre feels kind, considerate and has a feel-good vibe despite the current challenging climate. It feels like we are all in it together, striving to do our best together.
How does your team ensure a smooth and supportive experience for retailers?
Kayleigh Pistell: Unlike many other retail centres where retailers are left to navigate the process independently, we take pride in providing personalised support every step of the way. Our involvement begins even before the store opens, and continues throughout their tenure at Festival Place, ensuring they feel well-supported, and their needs are addressed. We strive to make the entire experience as effortless and seamless as possible for all our retailers. This involves not only keeping them informed and maintaining open lines of communication, but also ensuring their compliance with centre policies and guidelines. While it may sometimes involve engaging in difficult conversations regarding adherence to operational guidelines, we consistently aim to foster positive relationships while guiding and assisting retailers.
Have you taken any specific measures to enhance the onboarding process in particular?
Rachel Carter: There is a growing need for a robust and efficient onboarding process. Consequently, we have designed a monthly new starter induction programme, led by us, with additional support from our security manager. During these monthly sessions, we deliver a comprehensive presentation to the newly appointed store managers, acquainting them with the full range of services and amenities offered by the centre. By providing this holistic overview, we have observed a reduction in operational issues, as the managers are equipped with the necessary knowledge and understanding of their roles. Additionally, these sessions serves as an opportunity for the new managers to connect with the entire centre community, facilitating meaningful relationships and promoting a cohesive working environment. Considering the current staff shortage, retailers are relying on us more heavily than before. In response to this, our team, including the marketing team, comes forward to provide additional assistance.
What role is marketing playing in assisting retailers?
Emily Palmer: Many retailers are used to arriving on-site and then opening without any individualised support from the centre, but we are involved in holding their hand through the entire process, helping them get the support they need. For some retailers, we even have weekly meetings, we plan social media activations, and monitor footfall and sales. They want and need the help, so we come and assist by aligning with them on their internal communications to ensure we have that one-team approach. We don’t see ourselves as a separate entity, but rather as an extension of the retailers’ teams. It is our job to make them feel supported by the marketing team.
Sian Fisher: We want it to work as much as they do, and if we see something that doesn’t work, we do our best to offer assistance. Additionally, we ensure that they are at the heart of every marketing initiative we undertake. An illustrative instance is our packed events calendar, consistently ranked among the top 5 things retailers appreciate about the Centre. When themes align with their interests, we aim to involve some of our retailers, granting them extra visibility and integrating them into our community life—something of particular significance at Festival Place. This approach not only boosts their visibility but also connects them with our community, generating revenue and footfall increases—another way we contribute to supporting retailers.
Did you develop additional tools or strategies to foster a sense of community amongst retailers at Festival Place?
Kayleigh Pistell: One of the key initiatives we implemented a few years ago at Festival Place is the introduction of our retailer application, known as “my FP,” which was launched in 2019. This application has been instrumental in creating a strong community bond among our retailers. Through the app, retailers receive numerous pop-up notifications and emails to keep them updated about events and developments within the centre. This approach takes away the formality from management and occupier relations, providing an open platform for communication. With around 2,200 users the my FP application has become a central hub, offering a diverse range of features, and we continually strive to develop new ideas and approaches to support our retailers. Undoubtedly, it has become an integral component of the Festival Place identity, reinforcing the sense of community and camaraderie that we have cultivated. Many people refer to our centre as the “FP family” or “the Village,” reflecting the ethos we have nurtured.
What is the most common feedback that you get from retailers?
Emily Palmer: We get a lot of feedback from retailers who say that what really matters is the sense of community and the friendly atmosphere in the centre. Many store managers who have experienced working in other shopping centres express that they did not receive the same level of communication as they do here. It is really encouraging to hear them say that the communication here is significantly superior and exceptional compared to all other centres they engaged with or to hear that they feel wholly supported by the Festival Place team. As the livelihood of our organisation depends on the retailers’ contributions, it’s important for us to make sure all our teams understand that.
Festival Place is a 1.1 million sq. ft retail and leisure destination in the heart of Basingstoke town centre. It is home to over 178 retail, leisure and F&B brands. Recent leasing activity has included deals with Black Sheep Coffee, Entreprise Rent-A-Car, Wenzel’s, and Kushti Comics.
