SubZero Middlesbrough - Addressable Market Analysis

 

About the brand

Following more than 5 years of development, plans have been approved for the creation of SubZero at Middlehaven Dock, Teesside.

Upon opening in 2023, SubZero in Middlesbrough will be the second largest real snow facility in the UK, and the first of its kind the North East. A range of additional restaurants, bar and leisure facilities will complement the slopes at SubZero, making the development a key anchor for the wider regeneration of the docks area, which will feature a range of offices, residential and retail.

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The Challenge/Task

Pragma was asked to compare SubZero’s potential catchment demographics with existing ski centre provision in the UK in order to understand the addressable market, trading potential and most suitable commercial strategy for the scheme, creating an evidence base to support the developer, operator and marketing teams.

WHAT WE DID

  • Using drive time data, Pragma determined the resident population in key drive time bands from the proposed site at Middlehaven Dock, as well as for selected competing schemes at Glasgow and Castleford

  • For each of the catchments, the resident population was analysed by key demographic and behavioural characteristics, including levels of affluence and propensity to partake in snow sports

  • Analysis of complementary factors that might impact the performance of SubZero Middlesbrough, including pipeline residential, office, educational and commercial developments, where also taken into account to give the most accurate steer on potential visitation and performance possible

The Result

Basing the analysis on the latest available data, Pragma were able to independently validate the strength of the chosen site in relation to both the catchment population and competing developments at a macro level, as well as the factors that are expected to positively impact the site and performance of the scheme at a micro level.

This helps form an evidence base that presents a strong support argument for the redevelopment of the Teeside Dock area and the findings will play an instrumental role in helping to attract suitable operators and occupiers to the development, to both maximise appeal and commercial performance.