People on my local social media mutual aid group were suggesting the O2 Arena near me will probably become a retail park in a few years’ time and that it’ll probably be the usual mix of B&M Bargains, JD Sports, M&S Foodhall and New Look stores, and someone else also suggested that the Tower of London would get the same treatment in a few years time because the money’s too good not to miss!
I live near the O2 Arena/Millennium Dome, have to pass by it for work every day!
What’s your thoughts on this?
As it were, wasn’t the Millennium Dome a big flop and PR disaster anyway?
9 comments
I don’t see how high street retailers, already struggling with rent prices will afford the silly prices that’ll be asked.
I haven’t been for a few years, but I don’t believe it’s struggling at all in its current configuration
It’s the busiest music arena in the UK, I can’t imagine it’ll be closing any time soon.
Absolutely not, retail parks are generally unpleasant places to be.
The O2 has events through to mid-2024, the only reason there are non beyond that advertised is because artists/shows tend not to announce much beyond that timeframe.
It’s also the busiest music venue in the world in terms of ticket sales.
Super-malls (and bricks and mortar retail in general) are on their knees. The Trafford Centre, Metrocentre, Lakeside etc all went bust a couple of years ago.
The venue is operated on a long term lease by AEG, who operate events spaces, not retail. The naming rights are secured until at least 2027 – and O2 lend their sponsorhip and branding to events spaces rather than retail.
I’m not really sure that’s going to happen? Unless you have the MD of AEG in your WhatsApp group giving you insider trading tips.
Retail isn’t the moneyspinner it used to be in the past, but there is going to be continuing demand for a live venue (take the massive sphere MSG intend to build in Stratford).
The Millennium Dome was indeed a huge flop, and according to recently revealed documents, there was discussion about actually relocating it.
But since it’s been the O2 it’s been a huge success and it’s actually a great venue. I’ve been there several times to see all sorts of different shows and never been disappointed.
* There’s already a retail park with some of the shops mentioned a 2 min drive away from the O2 so I don’t think there would be any point in having it there.
* The O2 and it’s surrounding premises (car parks etc.) are a huge amount of land and I can’t imagine it being wasted on just retail, unless they also build houses
* They’ve recently opened an “designer” outlet in the back half of the O2 so assuming they’ve already considered retail in the recent years.
* I think the O2 is quite successful in its current iteration. The venue is considered a landmark venue to perform in due to its capacity and the shops/activites/restaurants on the outside are always quite busy on the weekends
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