https://www.bbc.co.uk/news/articles/cm5473y0z9do
Emery Gate Shopping Centre in Chippenham is set for a significant transformation by Acorn Property Group, aiming to add more leisure and nightlife options. This ambitious redevelopment intends to create a vibrant local hub, reducing the need for residents to travel elsewhere for entertainment. “We're keen to create a destination for the people of Chippenham,” said Danica Clements of Acorn Property Group.
For landlords, this shift presents both opportunities and challenges. Moving from traditional retail to a mixed-use model requires adjustments in tenant types and rental structures. However, this diversification could lead to more stable and potentially higher rental incomes, as traditional retail faces declining footfall. “We have to do something different,” noted Dane Cummings of Acorn Property Group.
Tenants, particularly those in leisure and entertainment, can look forward to increased foot traffic and a revitalised environment. Existing retail tenants may benefit from the influx of visitors drawn by new attractions. The inclusion of low carbon homes indicates a sustainable approach, appealing to eco-conscious businesses and consumers.
Community consultation is crucial for shaping Emery Gate’s future. Acorn Property Group plans to engage local residents and stakeholders to ensure the redevelopment meets the town's needs, with consultations planned throughout the year.
Overall, the transformation of Emery Gate promises enhanced local amenities and a stronger community, maintaining its cherished status while adapting to modern demands.