Posted 12th December 2013 | 2 Comments
Station retailing defies High Street gloom
London King's Cross showed the highest growth in the three months to September
TRADING figures at 520 retail units in Network Rail-managed stations have shown another spurt as Christmas approaches.
New statistics from Network Rail for July to September show that there was 4.74 per cent growth in like-for-like sales compared to the same period in 2012. High street sales, as reported by the British Retail Consortium, grew by 1.5 per cent over the same period.
The figures were compiled from the results of retailers operating from more than 46,000 square metres of retail space in 16 stations.
Top performing stations were London King's Cross (up 28.4 per cent), followed by Edinburgh (up 13.1 per cent) and Manchester Piccadilly (up 13.1 per cent), again compared to the same period last year.
Specialist foods continued to perform strongly, with sales growing by 18.5 per cent. Supermarkets were up by 9.75 per cent and pubs and bars by 6.9 per cent. The company said the total represented the second biggest growth recorded over the past three years.
Network Rail’s retail commercial director Hamish Kiernan said: “These latest figures show that stations have become great trading environments for retailers, thanks to the growing numbers of people who choose to travel by rail and Network Rail’s programme of investment to create destination stations.
“The huge growth in sales at King’s Cross, where the new western concourse has given people a much wider choice of food, drink and retail brands, shows that investment in bigger, better stations can benefit passengers, businesses and the wider public. We will continue to work with retailers to help them grow their business as we look to take advantage of further exciting developments at our stations in 2014.”
The coming year may also see Network Rail's portfolio grow. The company has recently been letting retail units on the new overbridge at Reading, although the station as a whole is still managed by First Great Western. However, the Department for Transport wants to transfer management of both Reading and Bristol Temple Meads from the Great Western franchise holder to Network Rail. The changeover is pencilled in for April 2014.
Reader Comments:
Views expressed in submitted comments are that of the author, and not necessarily shared by Railnews.
Tony Pearce, Reading
According to figures released yesterday, average household expenditure on transport per week fell from £71.50 to £64.10 in the 2 years from 2010 to 2012. But expenditure both on rail tickets and at Station franchises seems to be on the up. Rail tickets seemed to have increased more than inflation and Tea at Stations is expensive. I don't understand. Any ideas ?
Melvyn Windebank, Canvey Island, Essex
Hardly surprising the increase in sales at Kings Cross given how major development has only recently opened !
Of course stations have the major advantage of a captive market like at airports with some like St Pancras International attracting many people who have no plans to use the main rail services from this station !
Stations are also now even offering far better restaurant features than the same old takeaways stations used to confine themselves to with champagne bar at St Pancras international and now even Paddington Station something to help you grin and bear cancelled trains?