February 18, 2011
Cities as portfolios
I have been very pleasantly distracted from posting this week as Robin Malloy has been visiting in Cardiff. On the way to sample the delights of Cardiff's pubs and restaurants Robin has had to listen to my rant nuanced discussion of city centre retail developments. Knowing how to get a reaction he tells me that Americans would love these commoditised downtowns and asked for a link to illustrate how to develop them.
So, Robin, here is a link to Land Securities 'retail portfolio' list including both the city centre of Bristol, where I live, and Cardiff, where I work. Especially after a few drinks the city centres are so extraordinarily similar in terms of street architecture, design and content that I have to remind myself to get the train home.
Maybe Americans really would love this. Certainly the city centres' value remains significant, currently the 19.4 million square feet of retail accommodation owned by one developer, Land Securities, is valued at £4.7 billion (over $7 billion). Maybe I just need a few extra drinks in those formulaic bars.
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