Comment: Partnerships are the new competitive edge in retail

By Helen Cowie, centre director at Eldon Square, Newcastle upon Tyne

For many years, the success of a shopping centre was defined by the strength of its anchors and the diversity of its retail mix. Those fundamentals remain important but no longer tell the whole story. Today, the most valuable retail destinations are those that create economic opportunity, sustain local identity and build a sense of belonging. A centre that contributes meaningfully to its place, and is recognised by its community for doing so, has a stronger and more resilient foundation for growth.

Eldon Square sits at the heart of Newcastle’s city centre. With more than 26 million visits each year and responsible for over 4,000 local jobs, its contribution to the regional economy is clear. Yet the reason we are confident about the future is not simply scale; it’s partnership.

Collaboration has become the greatest commercial advantage retail real estate can harness. The strongest of these relationships is our alignment with the city itself. As joint owners, Eldon Square and Newcastle City Council share a long-term ambition to create a vibrant, modern, and internationally recognised destination. That alignment has accelerated major transformation. The expansion of Next into a 61,000 square foot departmental presence and the arrival of global brands such as Sephora and Wingstop are examples of how public and private investment working together can enhance the city centre. They sit within a wider programme of regeneration that is renewing confidence in Newcastle and strengthening its future.

Leisure is also evolving. The arrival of Flight Club in November has already injected fresh energy into the city’s evening economy, giving visitors new reasons to stay longer and enjoy more. Looking ahead, the planned opening of Freight Island in 2026 will take that transformation even further. This 60,000 square foot destination will introduce food, drink and live cultural programming on the former Debenhams rooftop, supporting local suppliers, hospitality careers and creative talent. It is a powerful example of how partnership-led leasing can reshape the momentum of an entire city centre by responding to how people want to socialise today.

Not all partnerships are driven by capital investment. Some are driven by community value and cultural connection. Eldon Square’s long-standing relationship with Newcastle United Foundation (NUFC) is central to that. Together, we support programmes that help young people gain skills, improve wellbeing and build brighter futures. Recent awareness-raising work with Newcastle Dog and Cat Shelter and NUFC demonstrated the spirit that comes with collaboration, while also helping important local charities reach thousands of visitors.

We are equally committed to providing a platform for emerging talent. As patrons of the British Fashion Council, Eldon Square is supporting the next generation of fashion creatives and strengthening the North East’s role in the sector. Through initiatives such as the City Wide Celebration, delivered in partnership with Sunderland Software City and featuring immersive experiences throughout Eldon Square, we are helping to give young designers and digital innovators a public platform within the city.  The centre also works extensively with educational partners, including further projects with the University of Northumbria and Newcastle College in 2026. These experiences help students and creators build their skills while showcasing what Newcastle’s future workforce can deliver.

This approach also strengthens our commercial ecosystem. The role of the landlord has evolved. We are not simply leasing units; we are curating an environment in which global and independent operators can thrive together. Anchors such as John Lewis & Partners and Fenwick create national pull, while new arrivals like PURESEOUL, Wingstop and Flight Club bring freshness, discovery and personality. When every occupier can succeed, the destination succeeds with them.

Looking ahead, retail destinations must continue to contribute to their urban environment in a meaningful way. Place-making, skills development, economic value and cultural relevance are now inseparable from commercial performance. Occupancy and sales continue to matter to every asset owner, but so do dwell time, customer satisfaction and the strength of local loyalty that brings people back.

Partnership is not a short-term initiative. It is the strategy that enables retail to remain at the centre of community life. Eldon Square is not simply located in Newcastle; it is invested in Newcastle. As the city continues to grow, we will grow with it, ensuring the centre remains a place of energy, opportunity and pride.