Feel Good Edition 2

‘BIG BOXES’ – TRIED AND TESTED HAPPY PLACES 04 | THE FEEL GOOD TRILOGY | EDITION #2 THREE FEEL GOOD LEISURE CONCEPTS ENTERTAINMENT VENUES – LASTING SMILE FACTORIES The ability of live entertainment – from music through comedy to theatre, dance and sport – to supercharge its audience is incomparable, as the happy faces streaming daily from Entertainment Venues across the continent testify. These are truly versatile spaces, which allow for an ever-changing, hugely diverse, line-up of events. Whether large-scale arenas, with capacities measured in tens of thousands, or intimate performance spaces which allow small crowds to get close to the action, Entertainment Venues o er landlords hugely sustainable footfall and superb repeat visit potential. Now that’s something for everyone to feel good about! As well as retail, Entertainment Venues combine well with other leisure uses, such as food halls (see Cushman & Wakefield Food Halls of Europe and USA publications), and while large-scale arenas are undoubtedly costly and require creative operational solutions (see Operating Models pg.6), smaller venues may be more easily and cost-e ectively delivered as part of both new and existing schemes. We expect substantial crossover between the smallest Entertainment Venues and Social Spaces. The most developed and familiar part of the leisure spectrum, ‘Big Box’ is common in shopping centres and other retail-led destinations across Europe. As the name implies, individual units are large (ranging from 1,000 to 5,000 sqm and above) and typically house cinemas, bowling alleys, branded children’s entertainment zones and aquariums. The scale and expense of ‘Big Box’ developments means covenant strength is key for landlords. ‘Big Boxes’ are likely to remain a mainstay of the leisure sector, though a more discerning consumer market might well increase pressure on landlords to adopt a more bespoke identity to these developments. We suggest that the innovative application of Social Spaces (more info on pg.5) could be an ideal complementary solution for enhancing ‘Big Box’ assets. Studies say that 20 minutes at a show can lead to a 21% increase in the feeling of wellbeing! Source: O2 & Goldsmith University, 2019 DID YOU KNOW?