Plus Ca Change, Plus C’est La Meme Chose – As our probably former European partners like to say
A long career in retail should prepare you for change, nothing stays the same for long.
Comparing a town centre goad plan from when you started your career, mine in 1993, with today, brings swift realisation that every grey hair and wrinkle has been earned in this most dynamic, rewarding and sometimes brutal of commercial real estate markets.
2016 has been described as a year of great change, but really it was a year of shocks, not much has actually happened. Yet.
The UK voted to leave the EU, but won’t for a number of years, both the USA and Revo have ended up with President Elects with Twitter addiction issues, but neither of us are in power quite yet!
However, the accusation of a lack of change last year can’t be levelled at Revo.
Although the name change and rebrand catch the eye, they are really only a signifier of deep and profound changes of how this organisation will work for, and communicates with, the entire retail property industry. The evolution is still in its early stages, and I can claim little or no credit for the work that has gone before, but Revo means Revo and I am completely committed to helping make a success of it.
The national press has already predicted a year of strife in retail for 2017 and must be somewhat disappointed with the slew of positive trading updates currently being announced; if 2016 taught us anything, making short term predictions is a fools’ game, which brings me to mine...
- Our Prime Minister will trigger Article 50 on time. Financial markets will over-react, they will then quickly recover when the realisation sets in that, once again, nothing really has happened. Yet.
- Consumer spending and confidence will hold up better than predicted. The increased national minimum wage will make its way immediately from the pockets of those receiving it back into the tills.
- President Trump will be impeached.
- Sunderland will be finally put out their misery and relegated.
There’s no doubt that our industry will face headwinds in 2017, which is why Ellandi will be shortly launching this year’s initiative #Value2017
Over the next 12 months we will recommitting to relentlessly delivering value to our occupiers with initiatives to reduce occupational costs in the main areas of rates, insurance and service charges. Keep an eye out on Twitter for details.
Change has been good for Ellandi, and other businesses born from the turmoil of the global economic crisis. The challenges and changes post 2008 allowed Morgan and I to build the UK’s 4th largest shopping centre business from a standing start, something that just could not have happened in a “normal” market. During this time, we feel our success mirrors that of the many other entrepreneurial businesses in our sector, which are built on an ethos of not being afraid to do things differently and working collaboratively with many and diverse stakeholders across our market.
We’ll greet the changes this year with more of the same, and are looking forward to 2017.
Property Director, Ellandi
Junior Vice President, Revo