Savills was instructed by a major national retailer who was considering the future of its real estate assets as the retail landscape continues to evolve.
We undertook an asset optimisation review on over 30 assets located across the UK and Ireland. Our development team worked closely with Savills urban design, residential and commercial teams, to prepare high-level feasibility studies for each store. The studies identified mechanisms to raise additional capital through sub-leasing and redevelopment opportunities, in order to maximise the value of our client’s assets. We also identified the different delivery mechanisms available. The stores were divided into categories, separating the priority and secondary opportunities.
Savills continues to advise on the stores that were identified as priority opportunities, which have now been progressed to detailed feasibility stage. The assets will be redeveloped to provide build to rent (BtR) residential schemes or hotels, with retail at ground floor and with other ancillary commercial uses.
We will continue to provide a full suite of services across the portfolio including planning, development, residential (including BtR) and commercial uses to include hotels, retail, leisure and offices.