Places

Placemaking Strategy

A Unique, Evidence-based Approach to Placemaking

BlueRock Places develops innovative destinations and curates the right retail mix through cutting-edge data intelligence, financial modelling, property experience and retail industry insight. To achieve this, we leverage our extensive BlueRock community and in-house property specialists to deliver a streamlined end-to-end placemaking service.

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What is Placemaking?

Placemaking is the concept of creating or reimagining public and retail spaces to become thriving communities that people really connect with.

When community spaces flourish, so too do consumers, retailers, landlords and developers. Successful placemaking leverages data, industry insights and financial modelling to truly understand the demographics, behaviours and needs of customers, and the viability of the proposed placemaking strategy. The result? Healthier, happier, more economically viable communities.

Data-led Placemaking Strategies For Success

Through technology exclusive to BlueRock, in partnership with Propella.ai, we deliver amazing insights on placemaking opportunities through cutting-edge data analytics.

This includes a market assessment of the retail opportunities and threats within the catchment area, as well as psychographic profiling to better understand the behaviours, characteristics and attitudes of the building occupants.

Retail Analytics

We use retail analytics to assess retail supply and demand fundamentals within the catchment area, and to identify opportunities and threats. By pulling together a vast array of data, our proprietary geo-spatial platform applies uniquely designed learning algorithms that analyse the retail, commercial and residential eco-system within which a new or redeveloped site will need to integrate and compete.

These algorithms provide never-before-seen insights into the level of sustainable retail supply, highest and best use analysis as well as the optimal retail mix necessary for sustainable trading.

Building Occupant Profiling

We utilise geo-fencing technology that anonymously identifies the people who work in the building and then delivers incredible insights about them. This knowledge is then transformed into consumer profiles, using Roy Morgan Helix Personas as the psychographic basis, thus developing a detailed understanding of the building’s occupants – for example, their lifestyles and their preferred spending habits.

Values, beliefs and attitudes are the best predictors of consumer behaviour. Understanding these consumer profiles allows us to plan the type of services, amenity and experiences that will resonate with building occupants.

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Our Unique Placemaking Process

Our 6-step approach to creating a successful placemaking strategy begins with the data insights we generate through our sophisticated Location Intelligence technology.

Working closely with industry experts within the BlueRock community, our finance and accounting experts and project stakeholders, we then create a Placemaking Strategy report to deliver confidence, insight and project success.

Workshop

We present the propella.ai retail insights and use these to workshop different concepts, proposed uses and ideal locations with key stakeholders.

Case Studies

We prepare and provide two case studies relevant to your placemaking location and market segment.

Industry Feedback

We facilitate meetings with three expert retail Cal owners from within the BlueRock Community to receive industry insight and feedback on the workshop concepts from. From here, we collate their feedback and provide a recommendation on the proposed uses and locations.

Business Modelling

Following client agreement on the proposed uses and locations, we assess the viability of the proposed uses by developing detailed business models with forecasts of sales, expenses, rent and profit, benchmarked against comparable business performance and industry standards.

Leasing Evidence

We then benchmark the sustainable rents ascertained from the business modelling against rents from comparable leasing evidence, incorporating traditional property and valuation methodologies.

Placemaking Report

Finally, after a comprehensive and fun exploration process, we provide a final Placemaking Strategy report covering the above elements.

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