The purpose of this paper is to investigate if, and how, different stakeholders perceive property owners (PO) have changed their activities in a town centre after increased competition, and if this has led to a different perception of the PO’ stakeholder group.
A comparative follow-up case study is conducted through semi-structured interviews on changes in the town centre management (TCM) stakeholders’ perceptions of the role, benefit, and contribution of PO. The interviews are carried out before and after the establishment of a big-box retailer, which makes it possible to analyse possible changes in the perceptions in relation to the overall role of the PO when retail competition increases.
A limited number of PO and local authorities have started working more strategically and proactively by creating a time-restricted alliance that goes beyond the work of the TCM organisation. Although the activities of the PO have increased, this is not fully understood by everyone in the town centre, especially the retailers.
In comparison with other studies, this study clearly indicates that the property owner plays a key strategic role in enabling town centre development. This role is broader than what the original TCM literature suggests and is based on the aspects of resource coordination and distribution.
In order to create the opportunity to develop a town centre in the long run, it is of strategic importance that the PO are in agreement with the development plans. In addition, it is necessary to consider those members who should be part of the strategic alliance.
By conducting a comparative follow-up case study, the authors are able to contribute with a deeper understanding of how stakeholders’ perceptions change over time. The authors extend the current literature by showing that the PO are a key stakeholder due to their organisational resources and their ability to facilitate town centre development.
