Future Opportunities through Conversion from Retail to Mixed-Use Properties - Analysis of Case Studies and Development of a 4-Phase Model for Successful Transformation

Dieter Rebitzer, Maximilian Nothhelfer and Franka Lange

ERES from European Real Estate Society (ERES)

Abstract: The transformation process of retail property requires expertise in retail, property, and construction law. Three research questions are posed using the case study method: 1) How did the rise and fall of large retail properties and the resulting numerous vacancies in prominent locations come about? 2) How have former retail properties been re-utilised in the past? 3) What should a structured process for value-retaining re-utilisation look like? The study analyses the success factors based on twelve case studies of successful reuse concepts. The results are used to formulate and test a four-phase model for successful re-utilisation concepts, which is then presented using a specific practical example. This involves an iterative consolidation of all the analysed information into the final concept. The model has been tried and tested in practice and is internationally transferable. The study is aimed at owners and investors as well as cities, business development organisations, city marketing, and similar interest groups that are affected by retail closures.

Keywords: Property Development; Retail Property; sustainability; Urban Development (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-ure
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