Background
Challenge
Outcome
Following Morrisons decision to close supermarkets in Crawley, Swindon, Shirley and Wigan, we were instructed to dispose of the properties.
These properties represented a range of challenges for disposal. Two were freehold and two were leasehold and they varied greatly in terms of location and nature.
We devised a co-ordinated marketing campaign for all the properties, with bespoke targeting for each individually. We then pursued an active market led disposal strategy.
Within four months of going to market in November 2019, Shirley had been sold to a care home operator and we have secured 11 offers for Wigan from residential developers. We have occupational offers for the whole of Swindon and for parts of Crawley.
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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Greg Styles
50 George Street
London
W1U 7GA
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