Background
Challenge
Outcome
With Sainsbury's relocating to a new store, we were instructed to advise on the disposal of their existing 4 acre freehold site.
Located on an island site and surrounded by roads that were due to be improved, this site offered huge potential for redevelopment, but with a range of complications.
Advised on a bespoke marketing campaign targeting retail and student accommodation developers. Secured over 20 proposals and coordinated a detailed offer analysis and interview process. Actively managed the legal process resulting in completion of a conditional sale agreement.
Secured a conditional sale agreement for our clients subject to planning.
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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