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We Know Retail Valuation & Advisory

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We Know Retail Valuation & Advisory We Know Retail Valuation & Advisory v Valuable Retail Insight RECENT LEASING WINS: LOAN SECURITY RESEARCH CAPABILITY: £7BN OF OUT OF IN HOUSE SPECIALISTS WITH 10 SHOPPING CENTRES SHOPPING CENTRE CACI, MINTEL & OXFORD TOWN RETAILING DEEP UNDERSTANDING OF COMPRISING OVER VALUATIONS IN EXCESS CONSULTING VALUED IN 270 CASH FLOW MODELLING 2.7M SQ FT OF £3BN ANNUALLY LOCATIONS FOR NUMEROUS SITUATIONS INCLUDING DEVELOPMENTS, SERVICED OFFICES AND FACTORY OUTLETS VALUE 60 SHOPPING RECENT VALUATION SUBSTANTIAL TRACK CENTRES FOR WINS: INTU, C&R, RECORD OF VALUING FINANCIAL REPORTING CBREGi, M&G & HIGHEST PROFILE REITS WELL OVER 100 TOTALLING £4.5BN NEWRIVER RETAIL DISTRIBUTION BUILDINGS VALUED ON A REGULAR BASIS FOR TOP TWO IPD OVER 60 MULTI- A VARIETY OF CLIENTS CONTRIBUTOR DISCIPLINARY PROFESSIONALS WORKING TOGETHER ACROSS LEASING, VALUATIONS, INVESTMENTS, RESEARCH AND CONSULTANCY KNIGHT FRANK, WE KNOW RETAIL 6 Experience & Reach SECTORS Retail Distribution Shopping Centres Retail Warehousing/Parks Food Stores High Street Retail Leisure There’s a human element in the world of property At Knight Frank we firmly believe that there is that is too easily overlooked. much opportunity in the sector for retailers, investors, and developers. Retail and Leisure is At Knight Frank we build long-term relationships, firmly in the UK psyche and as a sector a far more which allow us to provide personalised, clear and consistent performer than the majority believe. considered advice on all areas of property in all key markets. We believe personal interaction is We have invested significantly in our retail a crucial part of ensuring every client is matched platform and offer our clients trusted advice to the property that suits their needs best – be it from experienced individuals across the full commercial or residential. retail property spectrum. Operating in locations where our clients need We have put together a selection of highlights us to be, we provide a worldwide service that’s from the key service lines to demonstrate locally expert and globally informed. the depth and range of our knowledge and experience and are proud of the Headquartered in London, we have 418 offices client testimonials that sit alongside. in 60 countries and more than 15,000 people. Operating in locations where our clients need us to be, we provide a worldwide service that’s locally expert and globally connected. Knight Frank UK offices KNIGHT FRANK, WE KNOW RETAIL 8 Shopping Centres Case Studies VALUATION INVESTMENT AGENCY BURGESS HILL, BLUEWATER, DICKENS YARD, WEST SUSSEX KENT EALING 91,000 SQ FT 1,600,000 SQ FT 105,000 SQ FT Redevelopment proposals to include residential, One of the largest shopping centres in the UK A new mixed use development in the heart restaurants and major space users. anchored by House of Fraser and John Lewis. of Ealing. Valued as part of a portfolio of New River Acquired a 30% interest along with asset Currently letting the retail/leisure schemes for loan security purposes. management rights for £696m. accommodation. Client: HSBC Client: Landsec Client: St George/Berkeley Group LAKESIDE SHOPPING CENTRE, VICTORIA QUARTER, ROYAL ARCADE, WEST THURROCK LEEDS CREWE 1,400,000 SQ FT 225,000Q FT 150,000 SQ FT One of the largest shopping centres in the UK Grade II* Listed shopping centre with 70 shops Redevelopment to include a new eight-screen with over 25 million visitors annually. with a high quality fashion line up. cinema, gym, restaurants, shops, a new bus station and refurbished Market Hall. Valued bi-annually. Asset sold to Hammerson for £136m. Instructed to let the retail and leisure Client: intu Client: Kennedy Wilson accommodation. Client: Cordwell Property Group & Peveril Examples of some of our shopping centre activity Securities Ltd KNIGHT FRANK, WE KNOW RETAIL 10 Out of Town Case Studies VALUATION INVESTMENT AGENCY SPRINGVALE RETAIL PARK, INTERCHANGE RETAIL PARK RIVERSIDE RETAIL PARK, ORPINGTON IPSWICH NORTHAMPTON 100,223 SQ FT 62,165 SQ FT 180,000 SQ FT Comprising nine Open A1 retail units over two Fully Let to B&M Bargains, Currys/PC World, Part Open A1 (non-food), Part Bulky Goods terraces, constructed in the late 1990’s. Multiyork, Costa Coffee and Pizza Hut. retail park fronting A45 Nene Valley Way. Valued monthly. Instruction: Schroder’s Currently instructed as letting agents. Client: BlackRock UK Property Fund Client: M&G Real Estate THE FORT SHOPPING PARK, B&Q TRIMDON STREET, BRAINTREE LEISURE & SHOPPING BIRMINGHAM SUNDERLAND PARK, BRAINTREE 342,931 SQ FT 78,670 SQ FT (INCL. A GARDEN CENTRE) 200,000 SQ FT Open A1 retail park constructed in the 1980’s Retail warehouse unit let to B&Q which includes Retail and leisure park including 10 retail provides supermarkets, home improvement, a 30,000 sq ft garden centre. warehouse units, 7 restaurants, an amusement lifestyle and entertainment stores, a fitness centre and a cinema. centre and restaurants. Acquired off market for £8.70m. Instructed as letting agents. Valued monthly. Client: The Hanro Group Client: The Williams Group Examples of some of our out of town activity Client: M&G Real Estate KNIGHT FRANK, WE KNOW RETAIL 12 Leisure Case Studies VALUATION INVESTMENT AGENCY DEANSGATE LOCKS, DOPHIN SQUARE, 12 ST JAMES’S STREET, MANCHESTER WESTERN-SUPER-MARE ST JAMES’S, SW1A 1ER 52,322 SQ FT 73,600 SQ FT 18,341 SQ FT Leisure scheme completed in the early 1990’s Tenants are Cineworld, Pizza Express, Nandos Basement, Ground Floor and Mezzanine to be from disused railway arches. 12 units let to & Costa. converted to gym use. tenants such as Inventive Leisure & Stonegate Pub Co. Full forward funding of town centre scheme. Acquired for our retained client on a 25 year lease. Acquired for £18.45m. Valued monthly. Client: Equinox Client: Knight Frank Investment Management Client: Aberdeen Asset Management JUBILEE STREET, PROJECT PEPPER THE BEACON SHOPPING CENTRE, BRIGHTON 103,422 SQ FT EASTBOURNE 44,678 SQ FT 175,000 SQ FT Portfolio comprising 17 pubs and 5 Purpose built prime restaurant led scheme convenience stores across England. £85m retail and leisure extension providing 22 in Brighton town centre with offices on the new shops, 7 new restaurants and a 8 screen upper floors. Acquired for £20m. multiplex cinema. Valued quarterly. Client: AEW UK Real Return Fund Instructed as letting agents. Lettings agreed with Cineworld, Nandos, Wagamama and Chiquito. Instruction: Bishopsgate LTPFUT Client: Legal & General Investment Management Examples of some of our leisure activity KNIGHT FRANK, WE KNOW RETAIL 14 High Street Case Studies VALUATION INVESTMENT AGENCY 136-140 HIGH STREET, THE HANNINGTONS ESTATE, THE LEADENHALL BUILDING, GUILDFORD BRIGHTON LEADENHALL STREET, EC3V 5,095 SQ FT 121,508 SQ FT THE UNIT IS 1,107 SQ. FT. GF AND 727 SQ. FT. MEZZ WITH APPROX. The property comprises a prime retail unit Includes 29 retail units, 41 flats and 19,500 sq ft 320 SQ. FT. EXTERNAL SEATING AREA. trading on basement, ground and first floors. office space. Retail unit on the ground floor with a mezzanine Valued quarterly. Acquired for £56.70m. level and external seating area. Instruction: Barclays Life Fund Client: Redevco Acquired for our retained client. Client: Black Sheep Coffee BROAD STREET & UNION STREET, 97A/98 PRINCES STREET, UNITS 65/66 WHITE ROSE SHOPPING READING EDINBURGH CENTRE, LEEDS LS11 8LL 18,441 SQ FT 7,293 SQ FT 25,900 SQ FT A prime high street unit with trading levels at Two prime retail units and six newly developed Prime Flagship MSU Retail Unit in White Rose ground and first floors together with three small apartments above. Shopping Centre. units fronting the western side of Union Street. Sold off-market to a special purchaser for Acquired for retained client on a 10 year lease. Valued annually. £12.65m. Other recent sites also recently acquired for the same client include Braehead for first UK Instruction: Civil Aviation Authority Pension Fund Client: M&G Real Estate Standalone Kids Store , Livingston , Telford , Shrewsbury and Romford. Examples of some of our high street activity Client : River Island Clothing Co Ltd KNIGHT FRANK, WE KNOW RETAIL 16 Key Contacts VALUATION & ADVISORY RETAIL AGENCY RETAIL DISTRIBUTION Rupert Johnson John McClymont Alex Munro Charles Binks Partner, Global Head of Valuation & Advisory Partner, Financial Appraiser & Analyst Partner, Department Head Partner, Head of Logistics & Industrial T: +44 207 861 1284 T: +44 203 826 0650 T: +44 207 861 1116 T: +44 207 861 1146 E: [email protected] E: [email protected] E: [email protected] E: [email protected] Robert Gray Patrick Keenan Partner, Head of Fund Valuation & Advisory Partner, Head of Retail Agency RETAIL RESEARCH T: +44 207 861 1290 RETAIL INVESTMENTS T: +44 207 861 1099 E: [email protected] E: [email protected] Stephen Springham Charlie Barke Partner Partner T: +44 207 861 1236 Jeremy Tham T: +44 207 861 1233 Mike Wimble E: [email protected] Partner, Head of Bank Lending Valuation & E: [email protected] Partner Advisory T: +44 207 861 1569 T: +44 207 861 1769 E: [email protected] E: [email protected] Andrew McGregor Partner Graham Spoor T: +44 207 861 1531 David Legat Partner E: [email protected] Partner T: +44 207 861 1539 T: +44 207 861 5119 E: [email protected] E: [email protected] Dominic Walton Partner Gavin Spreyer T: +44 207 861 1591 Rowen Grandison Partner E: [email protected] Partner T: +44 207 861 1585 T: +44 207 861 5191 E: [email protected] E: [email protected] Neal Newman Partner T: +44 207 861 1693 E: [email protected] ABOUT THE GROUP KNIGHT FRANK, WE KNOW RETAIL 18 THERE’S A HUMAN ELEMENT IN THE WORLD OF PROPERTY THAT IS TOO EASILY OVERLOOKED.
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