• Future town centre retail will need to be highly diversified and rebalanced in its offer and consumer appeal assets which draw on the ‘personality’ of place the local culture, societal aspects, politics, heritage and history, commerce, trade, and other uses.
• For this to be achieved, we must look beyond asset sector siloes to town centres as multi-use and multi-tenanted assets where the value is underpinned less by lease length and covenant strength than by underlying asset performance metrics such as trade and footfall, and a rich diversity of occupiers.
• This is our opportunity to repurpose town centres into mixed-use community-oriented environments which are aligned with the local population, economy, and culture.
Investment Date: December 2018
Property Type: High Street Retail
Asset Description: 220,000 sqft high-street retail
400 Parking units
Strong regional shopping centre:
Resilient community shopping centre (Top-100 UK centre) in a market town with a loyal shopper base, growing tourist ambitions and an entrepreneurial local government, set on delivering growth and jobs to the area and the town centre
Value-add potential through AM initiatives:
• Development works to improve the centre and create a vibrant
and engaging retail environment.
• Large outdoor screen and enhancement of public realm spaces.
• Digital engagement and marketing for local SMEs.
Underwriting & Asset Management:
• Awarded REVO’s Gold Award in the Re-Wired category for delivering
actionable insights through the use of technology.
• Creation of thriving local independent high street on the secondary (vacant)
pitch in the scheme, leading to year-on-year footfall growth.
Investment Date: June 2015
Property Type: Existing Retail & Residential Mixed-Use Development
Asset Description: 135,000 sqft Department Store, 300,000 sqft future
mixed-use development
Dominant superregional shopping centre:
• Operating retail shopping centre building located in Esslingen, Greater Stuttgart Area.
• Well located between two main pedestrian shopping streets that link the train station
and the historic centre.
Value-add potential through AM initiatives:
• Opportunity to develop residential-led buildings in the adjacent car park.
• Committed to divest at substantial discount to book value.
Asset Management Initiatives:
• Planning consent for a 300,000 sqft mixed use development has been secured
and pre-development work is underway.
Silver House, 31-35 Beak Street
W1F 9SX London
