Client: Aviva Investors/Aberdeen Asset Management JV
Wilkinson Williams have advised the landlord on this scheme since 2003. The scheme is owned by way of a joint venture between Scottish Widows Aviva Investors and Scottish Widows Investment Partnership.
The latest asset management initiative involved eight simultaneous transactions including the relocation and doubling up of space for Next/Next Home, DSG surrendering 2 leases and relocating to a new flagship Currys PC World store, and new lettings to both Wren Living and Oak Furniture Land, setting a record rent for the scheme at £33.00 per sq ft. The transaction was complicated by the requirement for retailers to maintain continuity of trade whilst works were ongoing to right-size units and improve the scheme. Wilkinson Williams are now advising the landlord on lease regears and lease renewals across the scheme.