Background
Challenge
Outcome
Colliers advised on the purchase of the site in 2019 and on the re-purposing of the asset.
Pre purchase Colliers secured hotel and restaurant tenants and advised the client on the forward funding of the development.
Following the purchase Colliers worked with the clients project team to best utilise the space in the exisiting BHS department store.
Part of the building is listed and following pre application feedback from the LPA we were involved through the design, costing and negotiations with the tenants to achive the best use and drive best value out of the space.
Following this we advised the client on the marketing of the forward funding opportunity.
Full development and disposal consultancy role fulfilling client requirements for each individual site.
In January 2020 planning permission was secured for the scheme which left none of the original 75,000 sq ft as retail.
This is a prime example of re-imagining retail space that would otherwise have remained vacant.
The scheme rejuvinates part of the high street and will bring a new lease of life to a building which was no longer fit for purpose.
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
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Lloyd Entwistle
50 George Street
London
W1U 7GA
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