Exciting new era for Festival Place as Estama Appointed to Transform Basingstoke’s Flagship Shopping Destination
Festival Place, Basingstoke’s leading retail and leisure destination, is set for a major new chapter following the appointment of asset and property management specialists Estama to oversee its future direction.
The 1.2 million square foot shopping centre, home to over 180 well-known retailers including Marks & Spencer, H&M and Next, has long served as a hub for local shoppers and visitors from across Hampshire.
With more than 20 restaurants and cafés, as well as a 10-screen Vue cinema, Festival Place plays a vital role in the town’s economic and social landscape.
Estama, an employee-owned firm with a strong track record in revitalising shopping centres across the UK, brings a unique, integrated approach to both asset and property management.
The company aims to establish the shopping centre as something which the town and community can be proud of by enhancing customer experience, boosting occupancy, improving leasing conditions, and re-energise the tenant mix – ensuring Festival Place evolves in step with the needs of modern consumers.
“This is a significant moment for the business and one we are extremely proud of,” said Eoin Conway, Managing Director of Estama.
“Festival Place is a major centre, and we see real potential to create something special for Basingstoke.
Our approach is collaborative and rooted in understanding both the asset and the community it serves. We’re excited to get started,” he added.
The shopping centre is currently operating at a 77% occupancy rate, and Estama has already begun stabilising and improving the centre’s operational management, enabling vacant spaces to be filled with a mix of high-profile brands and local independent traders that complement the centre’s existing offering and suit the demographic of Basingstoke.
Sustainability, innovation and community engagement will also be core to the company’s plans with a variety of initiatives already being explored by the Estama team to roll out across the shopping centre.
Co-Leader of Basingstoke and Deane Borough Council Cllr Gavin James said: “We welcome the investment in Festival Place planned by Estama.
“It is vital that Festival Place continues to be a key draw for residents and visitors to Basingstoke town centre, supporting the action we are taking to revitalise the Top of the Town. We look forward to working with them as a key partner in keeping our town centre thriving.
“Our town centre faces the same challenges as those across the country with the growth of internet shopping.
“However, Basingstoke is in a strong position with new restaurants, shops and leisure activities opening and footfall competing with areas such as Reading, Southampton and Portsmouth.
“We look forward to seeing Estama build on this, progressing its plans to bring in new and exciting names, including more opportunities for independent local businesses,” he added.
Known for its results-driven approach, Estama combines investment insight, management expertise, and placemaking to enhance efficiency and deliver impactful outcomes for its clients.
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