The purchase of a portfolio of five big stores across the UK offered opportunities for some innovative asset management solutions

GCW's investment & asset management expertise brought huge benefits to The Winllan Group's £65m purchase of five stores from the ABF Group. Three of the stores in Leicester, Romford and Newport have undergone significant redevelopment, whilst the former Primark store in Swansea has been let and retained as an ongoing investment.

In Leicester, Littlewoods occupied a major store on one of the most prominent corners in the city centre on Haymarket with frontage onto Humberstone Gate. Redevelopment of the store has divided it into a number of large retail units with a 40,000 sq ft unit on the upper floor let to TK Maxx and other units let to Deichmann, Sports Direct, Halifax and Costa Coffee. The investment is now producing rental income of in excess of £2.6m a year.

In Newport, the former Littlewoods store fronts onto the High Street and backs onto a shopping centre being developed by Modus Properties. The High Street frontage has been divided into two large retail units; let to the Co-op Bank and Halifax. Part of the rear has been sold to Modus to be incorporated into their new shopping centre. The remaining space will be redeveloped to form a parade of retail units fronting onto Austin Friars Street, which provides a natural link between the High Street and the centre.

The former Littlewoods store in Romford is next to The Liberty shopping centre, which at the time of the acquisition had just been purchased by Cosgrave Properties. GCW were instrumental in working a redevelopment scheme, to include refurbishment of Swan Walk, for which Winllan were successful in securing a detailed planning consent.  GCW subsequently advised Winllan on the sale of this development site to Cosgrave Properties for incorporation into The Liberty Shopping Centre.