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Bedford Estates – Independent Audit and Market Appraisal
ASSIGNMENT
The Bedford Estates appointed Generation for Growth (GFG) to undertake an independent audit and market appraisal on two of the seven squares owned by the Woburn Estate – Bedford Square and Montague Street Gardens.
Our focus was to evaluate future ‘outside events’ involving the construction in most cases of a temporary Marquee structure, and as a result we approached this assignment with a mixture of research, analysis and consultation. Engaging with various suppliers, we assessed interest from leading London Caterers, Wedding planners, Party Organisers and Brand activation agencies.
As a result of this three-day audit, GFG produced a report which included a number of conclusions and recommendations to Bedford Estates on how they should re-engage with the hospitality sector.
OUTCOMES
First of all there was a genuine and on-going interest from Event Organisers to promote both public and private events in central London’s Garden squares, despite the shortage of privately owned and ‘accessible’ garden Squares.
Despite the ‘noise issue and possible disturbance’ to local residents there are a number of ‘Corporate Events organisers’ who regularly require Garden Squares for fixed periods, during the Summer and Christmas party season.
We also discovered that a number of ‘Brand activation’ agencies prefer blank canvas/green field sites because it allows them to have a ‘free reign’ on the interior design and layout of the marquee structure.
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CONCLUSION
In summary and following our report we proposed that if there was a genuine desire to generate additional revenue from both Bedford Square and Montague Street Gardens, Bedford Estates should organise a series of ‘hosted events’ to the wider corporate and private events market place.
In addition and appreciating Marquee contractors have the greatest impact on the Gardens, we advised Bedford Estates should have a number of preferred suppliers of which one would be a stretch Marquee company (premium high-end wedding market)