Pragma Quarterly Update
Welcome to the second edition of our quarterly update.
It is encouraging to see the progress being made with vaccination programmes around the world, helping to drive the re-opening of retail, dining, and leisure destinations, the return of international travel, and a return to the workplace.
A key positive to take from the recent turmoil is that the disruption has evidently been a significant catalyst for change, and with change comes the opportunity for innovation.
The Pragma team have been engaged in assisting our clients with the next stage of retail and placemaking evolution, working across the full spectrum of assets from shopping malls and retail parks, to town centres and office-led mixed-use developments, along with global airport terminal developments, and supporting dynamic brands that have thrived with a strong omni-channel proposition.
Despite on-going travel restrictions, we continue to serve clients around the world, including the Middle East, India, and the USA, with digital communications, online collaboration tools, and virtual tours providing valuable mechanisms to deliver productive project engagement.
Our ability to collaborate with our new sister companies, has been creating fascinating new opportunities to combine Pragma’s analytical insight-led approach, with the creative vision and ideas of our architectural and design-focussed colleagues at Benoy and Holmes Wood, and we look forward to sharing more news of our evolving proposition and combined projects over the coming months.
In the meantime, we wish you and your teams continued good health and increasing success as the world opens up, and hope that our next meeting may be a warm welcome in person, rather than via a screen.
Please see below for updates from our travel and property teams.
Alex Avery
CEO
Pragma Travel News
The return to pre-Covid passenger levels
With Covid still prevalent in many countries, the aviation sector continues to be challenged. Fully privatised airports have to balance any current investment against their significantly reduced income, but some airports – particularly government run ones – are able to use this quieter time to invest for the return to pre-Covid passenger levels.
In North America, Pragma are supporting two airports with their expansion plans, from supporting the masterplanning of one airport, to creating the commercial strategy for a new terminal development at another.
In the eastern hemisphere we have started working on supporting a new green-field development, looking at how the commercial requirements will change as the airport’s passenger forecast grows over time. And a little closer to home we are helping support an airport on their e-commerce strategy, a topic that we are seeing a renewed interest in following the pandemic.
We have also enjoyed our continuing relationship with Grupo Aeroportuario del Pacifico (GAP), working on commercial planning studies at their airports in the vibrant and dynamic cities of Guadalajara and Tijuana in Mexico, working alongside The Design Solution (see case study).
We continue to assess the impact of Covid on retail trends, helping to advise our customers on the changes we’re seeing and identifying which of those seen downtown are likely to make their way into the travel environment.
Pragma Property News
Private and public sector projects
As the UK gradually emerges from the third lockdown, Pragma’s Property division has been busily engaging with the private and public sector to ensure physical space provides a relevant proposition that meets key stakeholder requirements.
In Scotland, Pragma has been supporting Nuveen in the leasing of its transformational St James Quarter scheme (see case study). Due to open in June 2021, the scheme will feature a mix of 85 retail units, 30 restaurants plus hotel and leisure and provide the retail and leisure hub befitting of Scotland’s capital and the busiest tourist destination in the UK outside of London. Pragma have been providing detailed assessments of occupier potential turnover and profitability to assist in optimising unit selection and lease terms.
In the public sector, Pragma have been working with Cheshire West and Chester Council (see case study) to help them form the future strategy for Winsford town centre. The council bought Winsford Cross shopping centre in 2018 and since then has been working on plans for redeveloping the centre as part of a longer term regeneration programme, recognising that there has been a shift in the way consumers interact with the town centre.
Pragma's recommendations helped inform the resultant master plan, which includes an improved environment for independent retailers, community meeting spaces and public services, such as libraries and healthcare. As well as driving future strategy, the report findings were used within the Council's successful application to the Future High Streets Fund.