Hammerson has marked the tenth birthday of Cabot Circus Shopping Centre in Bristol with a two day celebration including an optical illusion installation trail, a series of aerial displays, free slices of cake and live music sessions.
Cabot Circus is an important part of the local economy supporting almost 4,000 jobs, generating £80 million in annual wage payments and £11.3 million in business rates. Hammerson’s True Value of Retail report highlights that 85% of jobs go to people who live in Bristol and 50% of all jobs go to under 25s. The centre has also attracted a further £112.6 million of inward investment to the area.
Hammerson continues to invest in major European cities which show an upward trajectory in key economic metrics. Bristol has demonstrated strong growth over the 10 year time period since Cabot Circus opened including growth in: retail spend (59.8%[1]), GDP (21.3%2), workforce (18.4%3) and population (12%4).
Cabot Circus is a 1.5 million sq ft mixed-use city shopping destination occupying a 36-acre site. The centre is anchored by Harvey Nichols and Showcase Cinema de Lux and more than 120 other retail and leisure brands. The shopping centre was developed by Hammerson as one of the first of a new generation of mixed-use city centre urban regeneration projects and now attracts 18.5 million visitors a year.
Cabot Circus has recently welcomed & Other Stories and Bershka to Bristol, with the popular international fashion brands opening their debut stores in the region later this year. Bershka will complement the existing Inditex portfolio of Zara and Pull & Bear stores in the centre, while & Other Stories will join H&M’s eponymous brand as well as Cos and Monki. Renowned leisure operator Escape Hunt also opened its fourth UK site at the centre earlier this year.
Mark Bourgeois, Managing Director UK and Ireland for Hammerson, said: “It’s immensely rewarding to see the continued positive impact Cabot Circus has on its local area. We look forward to furthering our investment in the city centre to support local jobs, develop skills for the next generation and generate financial benefits for the local and national economy. Providing a broad and vibrant retail offer for our shoppers is key to ensuring Cabot Circus remains the region’s leading retail and leisure destination.”
ENDS