Contents | Executive Summary | Catering Strategy

Catering Strategy

REVIEW COMPLETED BY CBHP CONSISTING OF:

  • Review of existing catering provision within Regent Street and its immediate environs undertaken in August/September 2001.
  • Consumer marketing research with particular focus on customer profile and catering usage undertaken 26 November 2001.

AGREED CONCLUSIONS & STRATEGY:

  • Core customer to Regent Street continues to be the tourist/shopper group accounting for 85% of visitors to Regent Street.
  • Catering usage demanded by core customer is for snack or quick service and casual dining catering offers (reinforced by RCT's November 2001 Customer Research).
  • While not researched it is likely the office occupiers have a similar requirement when they are considering shopping
  • No consideration will be taken of area north of Oxford Circus
  • From the three study areas, the current catering provision is weighted to non-core customers to Regent Street. At its worst, less than 18% of the catering offer really satisfies what is essentially over 85% of the visitors to Regent Street.
  • RCT's consumer research highlights the under provision of and latent demand for additional quick service and casual dining in Regent Street. (51% of visitors to Regent Street purchased something to eat or drink elsewhere other than Regent Street during their visit to Central London).
  • Planning constraints and appropriate property constrain supply of outlets
  • We should be providing a number of quick service premium coffee outlets on Regent Street say 7/10 in number by 2004 - all working within existing retail consents
  • We should focus on Burlington Place, Heddon St , E1 & Swallow St for casual dining
  • Fine dining lettings should only be pursued where casual dining opportunities are inappropriate. Food courts are not to be pursued

 

Strategy Contact:
Nigel Costain, CBRE
ncostain@cbre.com
020 7182 2000