Location
Glasgow
Size
375,000 sqft
Background
•Tristan Capital Partners appointed Quadrant to replace the previous asset manager in Q1 2019, as the scheme had suffered from substantial vacancy, declining value and WAULT.
•At the time of Quadrant’s appointment, the park had 40,758 sq ft of vacant space and required a number of re-gears due to a low WAULT and needed improvements to landscaping and signage.
•Since Q1 2019 significant work has been undertaken to generate new income and reduce vacancies, which has since been lowered to 8,653 sq ft.
•In 2020, works were completed to bring Aldi to the scheme, providing an additional £300,000 pa of income, with other additions including 2 newly constructed drive-thru units let to Starbucks and Burger King, generating new income of £200,000 pa.
•2021 saw new lettings to The Gym Group, Next Outlet and Greggs which were all new entrants to The Forge, as well as completing on a reversionary lease to B&M for a further 10 years.
•During 2022, an upsize of Home Bargains exchanged for their expansion into the adjacent unit. Further new lettings exchanged in 2023 with Cancer Research and British Heart Foundation.
| Sq ft | Status | Deal Type |
| 375,000 | Ongoing | AM |