Location
Colchester
Size
125,000 sqft
Background
•Identified, underwrote and advised Schroders on the acquisition of this retail park.
•At the time of Quadrant’s appointment, the park had two vacant units and the opportunity to improve rental tone across the scheme. The car park also provided sufficient space to unlock value from creation of A3 pods to further increase dwell time.
•Of the two vacant units, one was let to Home Bargains at completion of the purchase. A change-of-use application was made to the second unit, which facilitated a letting to the food operator Iceland.
•Having improved the tenant line up, a lease to a local operator was surrendered to allow a letting to Poundland, increasing the rental tone of the park by approximately 30%.
•Consent for two restaurant pods was obtained and let to Costa Coffee and Subway.
•Since acquisition the rental income has increased by 45%.
| Size | Status |
| 125,000 sq ft | Exited |