Company

Millward Associates Doubles Client Base

January 16th, 2012 in Company, News

Millward Associates is rapidly approaching its sixth anniversary, an opportunity to pause and reflect on the ups and downs of managing a retail consultancy practice through the height of the consumer spending boom, the ensuing credit crunch and recession.  The prospects for recession 2 and Euro zone chaos are coming into sharper focus as I write and its never been better to be a retail consultant, particularly one who understands how consumer demand, tenant profitability and rent sustainability impact asset value.

Our business profited from the consumer boom and we started business with a blue-chip client shopping centre portfolio including The Mall Cribbs Causeway & Dundrum Town Centre on the asset management front, Dublin Central keeping us busy with pre-development advice and ongoing branch location work with Nationwide Building Society.  Within a couple of years we’d added thecentre:mk & East Kilbride.  Those were the days of full-scale, budget-no-issue research which commonly entailed comprehensive research and analysis of consumer, catchment, competitor and local market retail & tenant performance.  Times changed and Millward Associates approach evolved.  We successfully modularised our research processes enabling clients to see more easily how they could start small and add research components to arrive at a full strategic review over perhaps a year or eighteen months as they came to appreciate the quality, professionalism, insight and actionability that are the hallmark of Millward Associates.  Of course we still deliver the full strategy monty for many clients and it remains the preferred approach, but we also need to be pragmatic and are flexible.

Modularisation has enabled us to more than double our client base between 2009 and 2011 as we added RREEF, Scottish Widows, Change Capital, Cosgrave Property, The Mall Corporation and London & Stamford to our client roster.

Increasingly popular with clients because of its instant application to the asset management task, is our work on tenant turnover & profitability analysis.  Over 10 years and 20 iterations at The Mall Cribbs Causeway we’ve learnt everything there is to know about tenant retail sales, costs, profitability and sustainable rent.  In market rented schemes like Dundrum, thecentre:mk, The Mall Luton, The Liberty Romford and many others over the past 7 years, we have developed the ability to obtain reliable turnover (£) data from over 98% of tenants in our client centres.  Our record puts us at the forefront of tenant performance analysis and we expect our portfolio of client centre shops to approach 2,000 during 2012 enabling us to support clients with best in class peer-group performance benchmarking.

If you recognise the importance of understanding the turnover & profitability your tenants are achieving and want the confidence that comes from hiring expert consultants with a track record and personal engagement with every phase of your project, call or email me:  Mark Millward, mobile: +44 (0) 7970 880348 or email: mark@millwardassociates.com.  We call the process “harnessing the wisdom of tenants” its great value and it yields peerless results!

I look forward to hearing from you!

Mark