While it's vital, I'd say, that there has to be a city centre presence, you are not going to attract new trade just because the shop is in Churchill Square. It's a happy piece of tertiary marketing, but to think of it as being the first port of call in converting non-fans to fans is folly...
The rents in Churchill Square are astronomical, with no guarantee of a suitable upturn in sales compared to the (still high) rents paid in Queens Road - 150 yards away.
While a presence in the city centre is - I feel - essential, it would probably be best to site it nearer the Station. While...