DEPARTMENT STORE REPURPOSING

CLIENT - PATRIZIA

Background

Challenge

Outcome

Following the collapse of House of Fraser Colliers were appointed by Patrizia to asses all sectors and report on the feasibilty and repurposing of this iconic building in the centre of historic Lincoln.

We had to find the most viable and cost effective way of repurposing both a complicated and listed building.

 

The building had been added to and altered over the years but inherently provided a prime and somewhat under utilised site in the centre of Lincoln suitable for a variety of uses.

All sectors were reviewed including residential, student, hotel, leisure, retail and office. From an in-depth market study Colliers identified the latent hotel demand in the market and evaluated that this use would drive the most value for the client.

 

Due to the location and early LPA discussions it was clear that an active frontage would be retained and Colliers advised on the layout and how this space should work with the wider hotel scheme.

 

In 2019 a full hotel marketing took place which generated a large amount of interest and competitive bids to secure a new anchor for this important site.

In November 2019, the agreement between Knowsley Council and St Modwen was completed. This secured the delivery of the new 90,000 sq ft development with the Council funding the costs and taking ownership of the completed scheme and the existing town centre assets. ​

 

The Colliers team was led throughout by their Head of Retail Development, Greg Styles, and they are now retained to lease the remainder of the new development for the Council, which will open in mid-2020.

Heart of Pierce County

Sollicitudin tempor id eu nisl nunc mi. Imperdiet dui accumsan sit amet nulla facilisi morbi. Vulputate eu scelerisque felis imperdiet proin fermentum leo. Congue eu consequat ac felis donec et. Vitae aliquet nec ullamcorper sit amet. Nec nam aliquam sem et tortor consequat id porta. At consectetur lorem donec massa sapien. Urna cursus eget nunc scelerisque. Quisque egestas diam in arcu cursus euismod quis.

Lloyd Entwistle

Director | Agency & Development

+44 20 7344 6812

Lloyd.Entwistle@colliers.com

50 George Street
London
W1U 7GA

colliers.com

Copyright 2020 Colliers International | Terms of use​ | Privacy Policy