Rise in leisure concepts will boost lettings

FOR some time we have been witnessing a fundamental shift in the way consumers spend their money.

Globally, they are putting more value in collecting experiences like travel, leisure and food, than goods like the latest TV set or sound system.

Customers desire spontaneous and immersive entertainment and this is filtering into our local leisure economy, with a number of brands entering the Birmingham market which provide the customer with unique experiences any time of the day.

As a result we have witnessed a huge rise in ‘experiential leisure’ concepts in the city. Ghetto Golf, which opened at the Custard Factory in October, has been well received and Whistle Punks, the competitive axe-throwing venue which opened in May, has become an instant hit.

Waiting in the wings are a number of brands which have had success in London and other cities and are now looking to bring their unique concepts to Birmingham.

These include: Fight Club, a social darts venue which claims to reinvent the game, creating ‘spectacular social experiences in breath-taking venues’; Puttshack, a social entertainment concept using ground-breaking patented technology to ‘catapult the traditional game of mini golf into a cutting-edge gaming phenomenon’; and Bounce, which brings ping pong to a bar and casual dining setting – they’re looking to roll out their next phase of venues with a digital twist, which will see its ping pong tables turned in to giant interactive video screens.

From the landlord and property owners’ perspective, the experiential leisure trend is an exciting prospect, as one of the major benefits of these types of concept is that occupiers are often looking for less traditional space, such as basements or upper floors.

It’s this kind of space which is often more difficult to let and, as a result, we are seeing more much creativity and flexibility in the type of space being taken and how it is being fitted out or developed to meet the tenant’s requirements. Gary Bucknall, is Associate Director, Licensed & Leisure, Colliers International Sponsored column