Messages from the Oracle: Assessing the Impact of Major In-Town Shopping CentresÂ

Neil Crosby (), Catherine Hughes (), Colin Lizieri and Melanie Oughton
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Catherine Hughes: Department of Real Estate & Planning, University of Reading

Real Estate & Planning Working Papers from Henley Business School, University of Reading

Abstract: Planning policy aimed at preserving the viability of UK town centres halted the wave of out-of-town shopping centres - Schiller's 'third wave' of decentralisation. In consequence, a number of major in-town shopping malls were developed in the UK. The first of these was the Oracle Centre in Reading. This paper examines the impact of the Oracle on retail activity in the town centre using land use data and the results of a retailer survey. The Oracle acted as a catalyst for change, accelerating trends already observed in the centre, shifting the prime pitch, weakening peripheral areas and increasing turnover rates. The added attraction of the town centre offset many of the trade diversion impacts. However, some adverse effects may have been masked by strong consumer spending and a vibrant local economy.

Keywords: In-town Shopping; Out-of-town Shopping; Retail; Shopping Malls; Retail Activity (search for similar items in EconPapers)
Pages: 20 pages
Date: 2005
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Citations: View citations in EconPapers (1)

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