Retail and leisure boom
by Marco Cillario Fri 11 November 2016, 3:24 pm
Enfield is one of the 10 areas in the country with the highest potential for investment in retail and leisure space, according to recent research.
The north London borough ranked 10th in the Hot 100 Retail Locations 2016, drawn up for Property Week by location experts CACI and published today (11 November).
The ranking identified the 100 areas in the country which have the largest capacity for additional retail or leisure space, based on factors including catchment size, competition by nearby town and cities, expected population growth, worker and tourist potential.
The north London borough had the highest score (A) for headroom: the most important variable in the model, it looks at the relationship between the area’s catchment size and competition from other locations to assess whether there is scope to increase the retail offer.
It also scored “A” for expected population growth over the next 10 years.
Another factor strengthening the investment opportunity in the borough is the current inadequate retail offer compared to its population (ranked “E”, the lowest score): since the retail sector has struggled to keep pace with an increasing number of residents, there is huge scope for investment.
Enfield ranked “C” in the remaining factors – the “centre dominance in catchment”, the “residential catchment size” and the “worker and tourist potential”.
The first is a measure of its dominance within its catchment area, based on the competition from neighbouring towns. The second metric measures the amount of money people living in the borough have at their disposal. The third takes into account the number of non-residents visiting the area for leisure or work.