Property giant Landsec has reported a strong golden quarter, as footfall and sales across its retail portfolio continued to grow.
The company saw more than £800 million spent at its destinations during the golden quarter, with spending up 3.8% year-on-year.
Footfall for the quarter increased 1.9%, compared to BRC data, which showed a 2.5% decrease in footfall year-on-year.
As part of this, an extra one million people visited a Landsec retail destination during the month of December alone.
Bruce Findlay, Managing Director for Retail at Landsec said: “Our best-in-class destinations continue to outperform external benchmarks as both brands and consumers flock to prime locations.
“Attracted by new brands, the best format stores and all day out experiences, shoppers are choosing to spend time in prime retail spaces. With growing footfall and sales, brands are in turn investing in the very best locations.”
It follows Landsec’s recent half year results, which reported that its occupancy has exceeded pre-pandemic levels as brands and retailers invest in fewer, bigger and better stores in the best locations.
Trinity Leeds saw a 13.1% increase in sales following new openings, including ZARA and Nike, earlier in the year. Meanwhile, Bluewater in Kent opened ten new stores, including Sephora, Bershka and Aesop during the golden quarter alone.
As for Liverpool ONE, which was acquired by Landsec last month, the destination reported its most successful festive shopping season since 2019, delivering a 28% increase in sales.
The run of success began with Black Friday week and continued throughout December. During the period between Boxing Day and New Year’s Day, Liverpool ONE also reported an increase in footfall as consumers continued to visit the destination.
Rob Deacon, Asset Management Director at Liverpool ONE, said: “Achieving our best Christmas in six years is a fantastic end to another successful year for LiverpoolONE.
“Driving our out-performance has been our commitment to providing best-in-class brands and experiences for our visitors, and that will continue in 2025 as we prepare to launch more new stores than at any point since Liverpool ONE opened in 2008.”
