Gresham House
Specialist asset management
The challenge
Design a scheme to keep the key M&S anchor while doubling the size of the existing shopping centre from 90,0000 to 180,000 sq ft. and keep all existing shopping centre units trading throughout. In addition to complete an apartment complex on the roof of the new portion of the shopping centre.
The solution
Gresham House Ireland Real Estate planned the design of the new shopping centre and managed the contractor during construction and through a complex phasing plan. We managed the surrender of a number of exiting retail units to allow the new shopping area to be ‘stitched’ into the existing shopping centre. Gresham House Ireland Real Estate also managed the existing centre and tenants so that there were no trading days lost during construction. Our team managed the marketing and leasing of the new shopping centre. Originally a restaurant was designed at level 2 of the new shopping centre but we changed the design to 3 levels of residential and achieved planning permission for the change, which added significant value to the scheme.
InvescoGresham House Ireland Real Estate evolved a design and phasing plan to deal with a very challenging build in and around an existing shopping centre and did all that while keeping the shopping centre fully functional which was impressive. The change of design to incorporate apartments above the shopping centre has become a vital part of the value equation and is the kind of development expertise that makes Gresham House Ireland Real Estate an important partner for Invesco. Their team’s broad skillset in terms of Development, Asset and Property management has been vital to the success of this project.
