Southampton has a wide, affluent catchment area, yet there’s an under provision of quality retail and dining options in the city centre. As the map below shows, Bargate Quarter will transform Southampton’s total residential comparison good market potential from £550.5 million to £599.6 million. The market potential of the core catchment will increase from £283 million to £303 million. This highlights the promising potential for new retailers.
This exclusive development will transform Southampton city centre, uniting its retail offer and introducing a blend of premium shops and restaurants, which until now have been under-represented. It will engage an affluent demographic from new residential developments in the immediate vicinity as well as the surrounding catchment area, making it the premier place to meet, shop, explore and revisit.
UNDER PROVISION OF QUALITY RETAIL
Southampton has great potential to expand its mix of aspirational retail. Bargate Quarter will increase the aspirational offer within Southampton and put the city on a par with other similar centres such as Cambridge, Bath and Guildford, which have a greater premium mix.
TOURISM BOOSTING AFFLUENCE
Southampton is the capital of the country’s expanding cruise liner industry, with approximately one million passengers passing through the port and 1.8 million people through the airport each year. Cruise tourism is boosting affluence, with ‘Affluent Achievers’ and ‘Comfortable Communities’ some way above the UK Average. With its premium offering, Bargate Quarter is in prime position to benefit.
The graph below shows similar retail centres in terms of ACORN correlation by the residential comparison goods market potential. Bargate Quarter will give Southampton a higher market potential (£599.6 million) than Cambridge (£518.5 million), Bath (£553.6 million) and Guildford (£576.1 million).
Bargate Quarter is creating the optimal environment for the aspirational shopper. Providing a platform for premium brands to reach the affluent consumer and creating the opportunity for Southampton to expand into the premium marketplace.