23 December 2015
Leading Retail Experts, CACI, Name Woking As Top Retail Opportunity
Woking has been named the UK’s number one premium retail opportunity by leading retail consumer insight experts, CACI. According to research compiled by the company, which advises retailers and property owners around the world, Woking has one of the most affluent catchments in the UK. Woking is also better aligned to luxury and premium brands than any other town in the country.
Woking was ranked higher than a number of well-known towns in the South and South East, including High Wycombe (4) and Camberley (5), as well as Bishop’s Stortford (8) and Chelmsford (9).
Commenting on CACI’s findings, Ray Morgan, Chief Executive of Woking Borough Council, said: “This latest independent report highlights what we have long known, and which leading retailers and restaurateurs are increasingly recognising: Woking is a thriving town serving one of the most affluent, mobile and skilled catchments in the UK.
“This is reflected by our success in attracting new operators to Woking, with 2015 being the strongest year yet in terms of the number of new brands making their debut in the town. We have also attracted new office occupiers and a significant number of residential developments are moving ahead. This is a very exciting time for Woking and we are delighted the town’s momentum has been recognised in this way.”
Dan Parr, Director of Property Consulting at CACI, added: “Our latest analysis has found Woking to be one of the most significant opportunities for aspirational retailers and restaurants seeking to expand in the UK. The town has invested heavily in improving its appeal to residents and visitors alike, which has helped to attract a number of new retailers and restaurants. The report clearly identifies the opportunity to build on this by creating an even stronger offer in Woking.”
The report follows a number of new additions to Woking town centre, including Côte, Bill’s Restaurant, Carluccio’s and Tante Marie Culinary Academy. In addition, FatFace has recently opened its new flagship store, along with Smiggle, the Australian stationery retailer. In total, 11 new brands have opened in Woking Shopping in the last year.
The council has also invested significantly in Commercial Way, improving the public realm through the introduction of new paving and seating. Longer-term, planning consent has been granted for Victoria Square, the comprehensive mixed-use retail-led development on lands to the west of Wolsey Place shopping centre.
Victoria Square will include 125,000 sq ft of new retail floorspace anchored by Marks & Spencer; a 190-bed four-star hotel with conference facilities; 392 residential apartments in two towers; space for a medical centre; 380 additional car parking spaces, and two new public plazas.
