The Pavilions, Swords – Pre-development Market Analysis & Strategy

The Task

We were instructed to identify the scope for The Pavilions, Swords to increase in size from its 2007 configuration as a district centre, to become a fully fledged regional shopping centre comprising 1 million sq.ft.  Our brief included quantifying present consumer demand & tenant performance and identifying future tenant mix strategy, turnover and sustainable rent potential.

What We Did

We divided the research into two components; firstly, that required to measure the performance of The Pavilions as presently constituted.  Secondly research components needed to identify future performance potential of a regional scale Pavilions and its potential tenant mix.  The resulting programme included focus groups, exit survey, catchment analysis and tenant sales analysis which quantified present performance.  Focus group insight combined with a household survey conducted in an expanded potential future catchment area provided the evidence of future market opportunity.

The Outcome

The research delivered robust results in which the evidence from three different sources: tenant sales estimates, exit survey and household survey, consistently quantified present performance.  This gave confidence in the results describing future spending / turnover potential for the proposed regional scale shopping centre development.  One of the first outputs of our work was to prepare an in-depth market appraisal for House of Fraser which contributed to them agreeing heads of terms to anchor the new development.