DTZ

Overview

At 1.9m sq ft, Westfield Stratford City is Europe’s largest retail centre, with 300 retail units, 60 restaurants, cinema, casino and bowling alley.

The client’s challenge

• Use the best retail leasing agents in the industry
• To have the centre fully let by the opening date
• A tenant mix that includes established as well as new and interesting retailers in order to establish a ‘point of difference’ in the new shopping centre 
• Market rent in an undeveloped area of London where retail was virtually non existent
• Maintain a critical level of rents throughout the mall in order to meet Westfield’s financial targets.

What DTZ did

• Bring our market knowledge of the best UK centres as well as our knowledge of international brands
• Provided a team of five dedicated agents to the project
• Hosted tours with agents in order to build up interest and understanding of the scheme
• Build on skills and relationships with retailers and retail agents learnt from our work on Westfield London and Bluewater in Kent.

Results

• 97% leased or committed on centre opening date
• Lettings achieved on average rents of between £250-£300 Zone A.