We aim to play a leading role in new developments and upgrades of shopping centres surrounding our towns and cities.
As the first wave of shopping centres on the outskirts of towns and cities fall into decline, we at Altagora seek to address this new challenge for urban planning.
Indeed, parallels can be drawn with the cease of operations of industrial sites of the past.
Would we erase everything to start from scratch? We understand the impact that demolition and construction can have on the environment, which is why we propose redevelopment as an alternative.
Experience has reinforced our belief that the right project is one that’s beneficial to every stakeholder. Bearing that purpose in mind, we have set ourselves the task of regenerating shopping centres in a way that’s sustainable and favourable to the local economy and environment.
This is a vision that has not always been followed. At Altagora, we take our commitment a step further, by redefining what an environmentally sustainable shopping centre is.
We address the role shopping centres play in today’s towns and cities, placing an emphasis on harmony and coexistence with the rest of the urban landscape.
Sustainable investment and responsible action
By redeveloping declining shopping centres, we add new life to the outskirts of our towns and cities. We realise the huge responsibility that comes with this. All of our investment projects include a long-term vision and firm social commitment (link to our CSR commitment). This necessarily involves working closely with local and regional authorities. Our position is clear: through our actions, we are a dependable partner in local planning and redevelopment.
We focus our efforts on medium-sized suburban shopping complexes. We appreciate the huge potential such projects can have, from both a financial and urban regeneration perspective. By blending these perspectives, we adopt a cost-effective approach that benefits the local environment and economy.
Amidst the frenzy in demand for SRI projects in Europe, investment opportunities remain scarce in this area. Investors who support us can be assured of our commitment to working on socially responsible projects, tangible assets that offer effective guarantees. And because a shopping centre (re-)opens on average just two years after initial investment, these opportunities offer excellent visibility.
OUR COMMITMENT
Redefining shopping centres
As a developer, we turn the decision-making process on its head.
Instead of making a shopping list of potential stores, we act in response to the demand and existing infrastructure in the local area.
To rejuvenate disused shopping centres and retail parks, we are guided by two overarching considerations:
- Environment.
As we know, shopping centres, particularly those built in the first wave, consume a lot of energy. This needs to be addressed quickly. The growing environmental challenges call for wide-ranging actions to make sites more energy efficient. In areas like heat insulation and drainage, improvements in construction methods over the last 35 years have caused energy costs to fall by up to 75%. - Local needs.
Suburban retail parks and shopping centres are strategically located on the outskirts of towns and cities. By making shopping centres more visually appealing, we aim to add value to suburbs and outlying areas. As sites blend into, and exist in harmony with, the local area, we add character to these living environments.
We aim to secure the HQE label for all of our shopping centre redevelopments. As they are environmentally friendly and in harmony with their surroundings, our centres are much more attractive, consistently outperforming other centres in terms of footfall and turnover.
Generatingnew interest and appeal,in harmony with city centres and online retail.
We need to move on from the unhelpful assumption that out-of-town shopping centres take business away from city centres. Suburban shopping centres with a revamped offering have an important place in the cities of tomorrow. By adding new living spaces dotted across urban areas, the new centres will reduce the number and distance of journeys.
We are therefore committed to developing centres that will cause shoppers to be less hesitant about visiting major regional centres while not competing directly with city-centre retailers.
To achieve this balance, we have made a firm commitment to:
- Developing commercial offerings that complement and strengthen city-centre economies.
- Ensuring that existing or rival retailers do not need to relocate.
- Encouraging retailers with an indoor surface area of 300 m2 to trade in the city centre.
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