Dear intu Properties plc…
Can we just call you Eldon Square? I mean, the whole intu thing has beeen the most popular co-branding exercise in Newcastle since the whole āsportsdirect.com @ St Jamesā Park Stadiumā debacle.
As a lifelong Newcastle resident and someone excited to see what youād be bringing to the ultra-glossy new āGreyās Quarterā I’ve gotta say, I’m among a growing glut of disappointed Geordies.
I know, itās hard to turn down those eye-watering rents youāll be collecting from Bella Italia, etc. but couldn’t your choice of tenants have been a little less, well, grey?Ā The refurbishment is impressive for sure, and 100% a positive move for the city. We’ve gotĀ world class retail and all that.
But ā where are the opportunities for smaller, independent food businesses?
Does Newcastle really need itās third branch of Frankie & Bennyās? There are NE-basedĀ tradersĀ desperate for city centre retail space, who don’t even stand a chance. Increasing competition between large chains makes it harder to get any local spendĀ back into the city. A huge chunkĀ of your invested money will become turnover forĀ The Restaurant Group… greatĀ ?.Ā Instead,Ā offer this spot toĀ independentĀ retailers at a reasonable cost, and hell,Ā I’ll personally get those units filled for you.
We donāt want the intu Eldon Square Greyās Quarter to be Camden Market, we donāt even want it to be like the really great, trendy (and financially viable) Leeds Trinity Kitchen.Ā Just aĀ smidgen of your retail space, And not the old āfood court of the 90sā, space for 3-4 ‘street food’ vendors. Nowhere near the 100+ seats you’ve sold Reds True Barbecue, or your similarly missed-opportunity at the Metrocentre.
And you’re missing a trick. these small local businesses could be your big 2020-2025 tenants,Ā youād be supporting the future of food business in the UK,Ā the chain restaurants ofĀ tomorrow even. The next ASK, La Tasca, whatever. You can position yourself as supporting the little guy, getting behind the underdog. Itād give you a credibility which youāre never going to get by putting the 50th branch of Giraffe into the next intu property.
I get it. Big-name brands = more money and that recognition factor which shoppers require.Ā But honestly,Ā we’ve got all the chains now thanks. Maybe when the first one inevitably closes after 24m, you could open some of the better ones – where’s Wahaca?
We can compromise andĀ have the best of both worlds. Huge retail names alongside up and coming local business.
We needĀ a more #DiverseGreysQuarter
ā jeff
