Redevelop Broadmead Soon To Lure Selfridges

Bristol must move fast to redevelop Broadmead if it is not to loseout to Cardiff in the race to attract top department storeSelfridges.

That is the grim warning from retail expert Stephen Jones, ofproperty consultants King Sturge.

Speaking at King Sturge's annual property review, Mr Jones saidBristol and other South West shopping centres were already laggingbehind retail outlets in Manchester, Leeds and Newcastle which allhave top shops open in redeveloped centres now.

Birmingham's Bull Ring centre is set to be opened this year. ButBristol, regional capital of the South West, will have to wait untilat least 2006 for the new look Broadmead to be completed.

Other South West cities will also have new shopping centres openaround the same time.

Mr Jones said: "There is still keen demand among the big retailersfor sites in these city schemes, but we face the challenge ofkeeping that demand warm for another four years if we are to catch upwith other regions.

"It is crucial, therefore, that none of our cities slow the paceof their shopping centre projects, especially now we are entering aperiod when consumer spending and retailer performance are beginningto look like slowing." And he said that Bristol should beware thatCardiff did not win the race for Selfridges by finishing its centrefirst. The department store is set to choose between the two cities,which both promise similar types of shoppers for Selfridges.

Mr Jones said: "Selfridges is unlikely to invest in two hugestores, so there is every chance that whichever city, Bristol orCardiff, looks like being the first to get its new shopping centreoperational will be the city that Selfridges chooses.

"The lesson for all involved, therefore, is to avoid any danger ofslowing the Broadmead expansion." The battle to attract Selfridges tothe city has been hotly contested by Cardiff.

While Broadmead's redevelopment is built around the flagship storethat developers hope will become home to Selfridges, Cardiff too hasplans to make the store a central point in its planned extension tothe St David's shopping centre in the city centre.

And Selfridges has warned repeatedly that it may not chooseBristol, its acknowledged favourite, if the city's transport problemsare not resolved.

The top department store has been in talks with the BristolAlliance to build a GBP35 million, 12,000 sq ft store at the end ofthe M32 as part of the GBP500 million expansion of Broadmead.

It has said Bristol is at the top of its list for expansion - butno confirmation of the plans has been made, despite the two beinglinked for more than three years.

Selfridges has said that before it can give that confirmation itwants to be sure that adequate transport is laid on for shopperstravelling to the city centre.

Other considerations include concerns about the area aroundBroadmead, since the company does not want to be surrounded by anunimproved area.

The other plans for the expansion of Broadmead include a 2,650-space car park to replace Bond Street and Tollgate car parks, a newquarter centred around Quakers Friars, another 15 major stores andmore than 108 other new shops.