Investment & Development
Overview
Stephen Smart & Company provide a detailed strategy for the betterment of retail assets, having advised on the lettings and on-going asset management of a number of institutional investments, nationally and in both town centre and retail park scenario’s.
Case Study One
Following the acquitision of the Meridian Centre, Havant, after the original developer failed, our clients owned a predominantly vacant shopping centre. The scheme was subsequently fully let, culminating in us creating space for an anchor unit to enable Wilkinson to take a bespoke store. Following completing the first round of rent reviews, we advised on the sale of the asset.
Case Study Two
UK & European Investments acquired Octagon Retail Park, Stoke on Trent in 2003, at which point, the scheme was anchored by Courts. Stephen Smart & Company are sole agents advising UK & European, part of Lewis Trust Group. we have advised on a strategy of fully refurbishing the former Courts to provide a contemporary retail store, to include double height glazing. This enabled a letting to British Home Stores, with the remainder of this 38,000 sq ft retail warehouse recently being occupied by Next Home.
Subsequent to the BHS anchor store, we secured a pre-let to CSL Furniture, including arranging to obtain planning to fully glaze the unit and create atriums to the main retail elevations to create a bespoke unit.
The park is now fully let and we are actively initiating opportunities to further enhance the asset.
Case Study Three
Our clients, Quadrant Estates secured the purchase of a site located close to the edge of Portishead town centre, in Avon. The retail park was to be completed during 2009, when the UK economy was in recession. The advice of Stephen Smart & Company commenced at the initial stages in respect of store design and the key criteria of retailers for new out of town units. The retail park was subsequently fully pre-let to New Look, Peacocks, Dreams and Pets at Home.
