Alserkal Avenue, Commercial Strategy
Middle East & Africa
View Project
St James Quarter
- Client
- Nuveen
- Services
- Commercial Strategy & Advisory
- Sector
- Retail
- Location
- Edinburgh, Scotland
- Size
- 78,968m²
Footfall forecasting and retail GLA assessment for Edinburgh’s largest mixed-use district
The St James Quarter development has brought 78,968m² of retail, dining and leisure to Edinburgh’s East End, replacing a 1970s shopping centre with the city’s largest mixed-use district. Benoy’s Commercial Strategy team conducted an independent assessment of target occupier performance and profitability, helping client Nuveen validate rental income assumptions and build confidence that occupiers would become long-standing partners.
Assessing the opportunity
During the feasibility stage, Benoy reviewed the potential impact of St James Quarter on Edinburgh’s retail catchment, examining catchment extent, penetration, visitor profile and turnover by merchandise category. The team then assessed how the development would affect the performance of existing Edinburgh occupiers across merchandise category, price position and micro-location. This gave Nuveen a picture of the development’s likely scale and timing before leasing began.
Building the occupier case
A second workstream provided an independent review of potential turnover performance for over 30 target occupiers across a range of merchandise categories, unit sizes and price points. Bespoke analysis of each business model assessed where a St James Quarter store would sit within the operator’s wider portfolio, supporting Nuveen’s leasing strategy with parent-company-level profitability evidence.
The strategy provided an evidential basis for attracting a compelling occupier mix, making St James Quarter relevant for consumers, occupiers and investors alike. With annual footfall exceeding 20 million in 2024, the development performs 6% higher than the Scottish retail average.
