GVA Retail

GVA Retail
08449 02 03 04
gva.co.uk
Did you know?
GVA has over 100 retail
specialists spread across
12 UK offices covering:
• Agency
• Development
• Food stores
• Investment
• Planning
• Shopping centre
management
• Restructuring and
corporate recovery
• Valuation
• Leisure
• Building consultancy
• Project management
• Rating
• Lease consultancy
• Automotive and
roadside
• Asset management
• Distribution
• Sustainability
• Research
The client base is diverse incorporating occupiers,
developers, funds, banks, local authorities,
administrators, property companies, landowners,
landlords and LPA Receivers.
GVA provides best in class advice and creative
solutions across all retail sectors as showcased
in this brochure.
We look forward to doing business with you.
gva.co.uk/retail
Retail agency and development
• Advising on over
15 million sq ft
of mixed use
development
• Incorporating
over 30 potential
major food stores
• Acquiring over 50
drive-thru sites
Staples
Virgin Media
Lush
GVA is retained to provide portfolio
strategy advice as part of a wider
corporate mandate. This includes
agency, treasury, rating, lease
consultancy, distribution, offices and
portfolio management.
GVA acts as lead adviser on national
acquisitions and portfolio strategy.
Retained on a sole agency basis to
acquire prime high street and shopping
centre premises across the UK.
Retailer clients include: Virgin Media, Neoglory, Waitrose, EAT, Morrisons, Boots, Lush, ASDA, Build-a-Bear
Workshop, Muji, Costa Coffee, G-Star Raw, TUI, Carluccio’s, B&M, Mountain Warehouse, Powerleague,
Dobbies Garden Centres, Schmidt Kitchens, David Lloyd, Staples, Trespass, Mint Velvet, Timberland,
Ollie & Nic, Patisserie Valerie, IMAX, Apollo Resorts, Liz Earle, Havaianas, Musto, OKA Direct, Virgin Money,
Roosters, JD Sports, The Moneyshop, Fullspot, Little Waitrose, Rowlands Pharmacy, Speedy Cash, BMW,
Coffee Establishment, The Co-operative, Betfred, C&J Clark, Next, Soletrader, Liberty, Auntie Anne’s Pretzels,
Duo Boots, Help For Heroes, Seasalt, Porcelanosa
G-Star Raw
Costa Coffee
Bedford Riverside
Acquired a flagship store on London’s
Oxford Street on behalf of G-Star RAW,
a Dutch fashion retailer with 300 stores
worldwide, following a two year search.
Advising Costa Coffee on the acquisition
of sites for their new drive-thru format. 32
sites currently in negotiations.
GVA has agreed pre-lets with Vue
cinemas, Premier Inn, Zizzi, Bella Italia and
Harvester for this 50,000 sq ft scheme.
The Mall at Cribbs
Causeway, Bristol
GVA provides agency and development
advice on this 750,000 sq ft regional
shopping centre.
Non retailer clients include: Bouygues Development, HCA, Opus Land, Lloyds Banking Group, PwC, Helical Retail, CoPlan, Henry Boot,
Rockspring, Ignis Real Estate, M&G Real Estate, CBREGi, AVIVA investors, Arqiva, London & Henley, Arriva, RBS, Abbeygate Developments,
Tristan Capital, Staffordshire County Council, Stafford Borough Council, Defence Infrastructure Organisation, Lingfield Securities,
Citygrove Developments, Telford Borough Council, Eagle, Ashbourne Beech, JT Baylis, Intu, Threadneedle, New Mount Properties,
Wigmore Retail, LaSalle Investment Management, Walsall Metropolitan Council, Wolverhampton Metropolitan Council,
Persimmon Homes, Taylor Wimpey, Picton Capital, F&C Reit, Cains Brewery, Argent
Retail agency and development
• Acting for over
100 retailers
across the UK
• Seeking in excess
of 1,500 locations
Carluccio’s
Build-A-Bear Workshop
Powerleague
GVA advises on acquisitions in the north
of England.
Retained on a national basis to inform
portfolio strategy and acquire prime
high street and shopping centre
premises across the UK.
Retained on a national basis to acquire
sites between 2-5 acres across the UK for
leading 5-a-side soccer centres.
TUI Travel Plc
EAT
Mint Velvet
Instructed to provide portfolio strategy
advice and undertake numerous
disposals across the UK.
Instructed to acquire prime high street
and shopping centre premises across
the UK with a focus on Greater London.
Acquiring stores nationally in affluent
market towns, London villages and key
regional centres.
Patisserie Valerie
Providing agency advice on acquisitions
across England and Wales.
Trespass
Acquiring stores nationally across high
streets and within shopping centres and
retail park locations.
Retail agency and development
Advising on over
30 major food
store deals acting
on behalf of
local authorities,
landowners,
operators, property
companies, banks,
developers
and investors.
Addlestone, Surrey
GVA assisted Bouygues Development
UK to secure the development and
is now pre-leasing and advising on
scheme design.
St Nic’s Arcades,
Lancaster
GVA has been retained by Rockspring
to provide asset management and
letting advice on a prime shopping
centre in Lancaster town centre. Recent
transactions include letting to The
Entertainer and Iceland.
The Cube, Birmingham
GVA was appointed by Tristan Capital
as sole leasing agent on this mixed-use
scheme, which comprises residential
apartments, hotel, luxury spa, offices,
retail and leisure space.
Civic Quarter Site,
Telford
Princes Walk,
Catterick Garrison
Hallsville Quarter,
Canning Town
GVA was appointed to advise on
the sale of this major mixed-use
development including retail, leisure,
offices and residential.
GVA on behalf of the Defence
Infrastructure Organisation provided
planning, retail development
consultancy and procurement advice in
order to facilitate this 150,000 sq ft major
town centre retail and leisure scheme.
This resulted in Lingfield Securities plc
being appointed. GVA provides ongoing
advice to DIO and as joint letting agent.
Scheme opens April 2015.
GVA provides agency, development
and investment advice to Bouygues
Development surrounding the
masterplan. GVA has secured a
pre-let of 7,500 sq m to Morrisons,
at a rent in excess of £2 million per
annum for phase 1. Phase 2 leasing
commenced.
Southwater, Citygrove
Following the development opportunity
being marketed by GVA, on behalf of
Telford & Wrekin Council, developers
Citygrove Plc were appointed to
undertake their proposed development
which comprised an 11 screen multiplex
cinema (Cineworld) together with an
80 bed budget hotel (Premier Inn)
and associated restaurant units for
International operators such as Nando,
Pizza Express, Wagamama, Chimichanga
and Harvester.
Retail investment
• Over the past four
years we have carried
out over 70 retail
investment deals in
all major sub-sectors,
resulting in over
£500 million worth of
property transactions.
•Our clients include
major UK institutional
and property
company investors in
addition to developers
and banking/
insolvency clients.
White Rose Way,
Doncaster
Retail warehouse disposal on behalf of
LPA receivers for £20 million to show a
NIY of 8.75%. Let to B&Q plc with nine
and a half years unexpired
Clements Road,
I-Scene, Ilford,
Greater London
Leisure scheme acquisition on behalf of
Cordea Savills for £19 million to show a
NIY of 8.63%. Greater London scheme,
anchored by Cineworld, Virgin Active
and Travelodge.
15-33 Union Street,
Bristol
Secondary retail parade disposal on
behalf of F&C Reit for £8.59 million to
show a NIY of 9.04%. Tenants include
Wilkinson, KFC and Subway.
Mailbox, Birmingham
Mixed-use scheme disposal with a total
floor area of 640,00 sq ft, for £127.1
million to show a NIY of 6.6%.
99-103 Long Acre,
Covent Garden,
London WC2
Prime shop disposal on behalf of NAMA
for £16.5 million to show a NIY of 4.08%.
The property is a flagship store for French
Connection.
104-106 Princes Street,
Edinburgh
50-54 High Street,
Guildford
Prime store disposal on behalf of a
private client for £16.85 million to show
a NIY of 4.81%. Let to Zara with ten
years unexpired.
Prime shop acquisition on behalf
of Standard Life for £9.86 million to
show a NIY of 4.74%. Let to Monsoon/
Accessorize.
Retail planning
With expertise right
across the UK and
Ireland, we advise
on every aspect of
the planning and
development of
major retail and
mixed use town and
city centre schemes,
as well as regional
shopping centres,
retail parks, designer
outlets and food
store development.
Tithebarn, Preston City
Centre
We act as planning consultant and
expert witness for Lend Lease on 861,000
sq ft retail led mixed use scheme with
planning consent.
Bicester Village
Retail Outlet Centre,
Oxfordshire
GVA is planning consultant for Bicester
Nominees Ltd and Bicester Nominees II
Ltd providing retail impact assessment
and planning advice for the demolition
of an existing foodstore and erection of
5,181 sq m of new retail floorspace to
form an extension of the Bicester Village
Retail Outlet Centre.
185-221 Buchanan
Street, Glasgow
Planning consultant to Land Securities
on mixed use scheme including 118,000
sq ft of retail floor space across 10 retail
units and one restaurant unit with 50
apartments on upper floor. Opened
March 2013.
Olympic Park, Stratford,
London
We are providing retail impact
assessment and planning advice
the London Legacy Development
Corporation to inform the wider
masterplan/outline planning application
for the Olympic Park to provide up to
26,000 sq m Class A1-A5 retail and
leisure floorspace.
Bury Town Centre, Bury
Planning consultant to Thornfield
Properties PLC on 430,000 sq ft mixed
use (retail led) town centre extension.
Dobbies Garden
Centres Ltd
Planning permissions secured across
the UK for 17 new stores, totalling circa
915,000 sq ft for Dobbies Garden
Centres Ltd.
ASDA, Swinton, Greater
Manchester
On behalf of a major Building Society
client and ASDA Stores Ltd, our services
have included LPA receivers (valuation),
shopping centre management, building
management consultancy, investment
and planning consultancy during the
partial redevelopment of the existing
shopping centre to create 70,000 sq ft
anchor food store.
Shopping centre management
• We manage
21 centres across
the UK
• Totalling over
3 million sq ft
• Including 600
tenants
• Paying an annual
rent of £47 million
and services
charges of over
£11 million
We provide full property
management services
including on-site staff,
accounts, marketing /
commercialisation
and review and
implementation of best
practice, including
sustainability and
community based
initiatives.
Merseyway Shopping Centre,
Stockport
Fishergate Shopping Centre,
Preston
Client: LPA Receiver
Client: BE Preston BV (Benson Elliot)
Arcadia Centre, Ealing
Cherry Tree Shopping Centre,
Wirral
Client: BE Arcadia BV (Benson Elliot)
Client: LPA Receiver
Arena Shopping Park, Coventry
Client: Pavillion Property Trustees Ltd
Festival Park Shopping Centre,
Ebbw Vale
Client: Chester Properties Third
Investment Partnership
Kensington Arcade, London
Sicilian Avenue, London
Broadstairs Retail Park, Broadstairs
Client: Comfortable Estates Ltd
(Meadow Partners)
Client: Holborn Links Ltd
Client: Pavillion Property Trustees Ltd
Cibi Walk Shopping Centre,
Abergavenny
Priory Walk, Colchester
The Brunel Centre,
Milton Keynes
Client: Cibi Investments Ltd
Client: Eagle Colchester Ltd (Valad)
Client: TOPP Bletchley Ltd
Restructuring and corporate recovery
• GVA acts as
LPA Receiver on
seven shopping
centres and asset
manages six
of them.
Merseyway Shopping Centre,
Stockport
Cherry Tree Shopping Centre,
Darwin, Pride Hill and Riverside
Shopping Centres, Shrewsbury
Wallasey
Cannock Shopping Centre,
Cannock
Swinton Shopping Centre, Swinton
Derrys Cross, Plymouth
Retail valuation
• We value all types
of retail property
including shopping
malls, high street
retail, department
stores, out of town
warehouses and
supermarkets.
•Full UK coverage,
located across 12
offices, providing
clients with access
to both local and
national market
knowledge.
Westfield White City, London
Longmarket, Canterbury
St David’s, Cardiff
Value: circa £2 billion
Value: circa £14 million
Value: circa £500 million
Ravenside Retail Park,
Birmingham
House of Fraser, Glasgow
B&Q, Bolton
Value: circa £45 million
Value: circa £22 million
Value: circa £25 million
Retail leisure
• We advise on over
£3 billion of leisure
property in the UK
annually.
Hobbledown adventure
park (Kidspace), Horton
Park, Epsom
Kidspace recently acquired a third site,
an outdoor adventure park play centre
for children, including a mini farm.
We were appointed to provide planning
and valuation advice.
Hop & Spice, Balham
We were appointed by the owners of
Hop & Spice to dispose of leasehold
interest of a prominent restaurant on
Bedford Hill in Balham.
Discreet marketing of the site was
undertaken and approaches made to
a select number of restaurant operators
looking for suitable sites in Balham.
A deal was brokered with Franco Manca,
the expanding pizza chain, to take
assignment of the existing lease at a
substantial premium.
Punch, Enterprise and
Brains – pub portfolios
On behalf of Punch, Enterprise and
Brains, we are instructed to undertake
portfolio valuations on several
thousand pubs.
Brighton Pier
Chelsfield Lakes Golf
Course, Kent
We successfully disposed of an 18-hole
golf course with retail and conferencing
facilities for £4.2 million on behalf of
Crown Golf.
Fit Space Gyms
We are instructed by Fit Space Gyms to
acquire various sites up to 20,000 sq ft
across the UK.
Retail building and project management
•P
re-acquisition
surveys
• Planned
maintenance
programmes
• Due diligence
on over 50 retail
warehouse assets
across UK and
Europe
• Over 200,000 sq ft
of retail warehouse
accommodation
refurbished /
constructed over
the last 12 months
Westfield London,
Stratford City
Westfield London,
White City
Wellington Retail Park,
Waterlooville
Pre-acquisition technical due diligence
on behalf of Henderson Global Investors.
Project management on behalf of
Westfield Shopping Towns and Commerz
Real AG for the creation of this flagship
shopping centre, providing over 270
retail units.
Due diligence on 30,000 sq ft
acquisition followed by project
management of major refurbishment
scheme on behalf of Henderson Retail
Warehouse Fund.
TUI UK Retail Limited
Ongoing instruction to provide
consultancy advice following the
merger of First Choice and TUI UK
including building surveys, defects
diagnosis, project management,
contract administration, party wall
and dilapidations.
503 Newport Road,
Cardiff
Kingsway Retail Park,
Derby
The Junction Portfolio,
various sites
On behalf of Threadneedle Property Unit
Trust, we were involved in the project
management of the sub-division and
refurbishment of a retail warehouse to
form three new units and facilitate the
downsizing of two existing retailers. Works
carried out with tenants in occupation.
Project management of the
construction of a new retail terrace to
provide accommodation for three food
retailers on behalf of Henderson Retail
Warehouse Fund.
Due diligence for the purchase of this
prestigious retail warehousing portfolio
comprising four sites and circa 1.1 million
sq ft on behalf of Hammerson.
Retail rating
•12% average RV reduction
per successful appeal
•Regional office presence
provides detailed knowledge
of local rating issues
•Advising clients across a
range of properties including
one-off specialist stores to
large national portfolios
Carluccio’s
Staples
GVA is supporting Carluccio’s through a rapid expansion
of the portfolio. Strategic advice has mitigated business
rates on new acquisitions across the UK and Republic of
Ireland. The long established relationship demonstrates
the strength and depth of our rating offer in the
restaurant sector.
We manage the entire business rate cycle for Staples’
portfolio of over 150 retail warehouses and distribution
centres. GVA completes rates payments, funding
requests, rating appeals, forensic audit and have
achieved substantial rate savings.
Primark
River Island
We have been retained since 2000 revaluation
providing specialist rating advice concerning large
shop assessments for the Midlands, Wales, South West
and South areas. We have achieved total savings of
£12.6 million.
We provide rating advice across a portfolio of high
street and out-of-town stores. Our rating expertise
extends beyond England and Wales, as GVA’s locally
based rating specialists advise River Island in Scotland
and the Republic of Ireland.
•Expertise in recovering
funds through forensic audit
•Cost savings identified via full
rates validation and payment
service
Retail lease consultancy
• We advise on
numerous retail
portfolios, providing
specialist lease
advice for over 300
locations
• Our experienced
team delivers
real savings,
boosts returns and
improves profitability
of client assets.
• For over 25 years, the
lease consultancy
team has had long
standing relationships
with high profile retail
clients; such as Boots,
RBS, Clarks, Ignis Asset
Management and
M&G Real Estate,
Superdrug and TUI
The Mall at Cribbs Causeway,
Bristol
TUI UK Ltd
Boots
We are responsible for all landlord
and tenant work for approximately
one third of the UK portfolio including
lease regears.
We are currently retained by Boots for all
landlord and tenant work for their stores
across the South West. We have worked
with Boots since 2003 and are retained
for a further three years.
The Royal Bank of Scotland
Ignis Asset Management Ltd
We are retained across the whole
UK and Ireland portfolio for all landlord
and tenant work.
We are retained on The Parade, Swindon
and Sovereign Centre, Weston-super-Mare
shopping centres for all landlord and
tenant services on behalf of Ignis Asset
Management Ltd.
Links of London
Waterstones
Mint Velvet
Lease Consultancy to act on Links of
London’s portfolio of stores facing rent
reviews and lease renewals in 2014.
Lease Consultancy are now advising
Waterstones on a number of lease
renewal and rent reviews for their 275
store portfolio.
Lease Consultancy are now working
closely with retail agency and advising
this acquisitive retailer on its national
portfolio of stores.
On behalf of M&G Real Estate, Intu
Properties and JT Baylis, we are responsible
for all lease renewals and rent reviews for
this landmark scheme.
New clients in 2014
Folli Follie
GVA appointed to advise on rent reviews
and lease renewals for the Folli Follie
portfolio during 2014.
Retail automotive and roadside
• S pecialist
adviser to the
automotive,
petroleum and
roadside retail
sectors
• The longeststanding
consultants in
this niche area
of commercial
property
• Clients include
prestige car
manufacturers/
dealers, fuel and
convenience
retailers and
motorway service
area (MSA)
operators
Welcome Break
portfolio
Advised the purchaser Extra / M3
Capital Partners on the acquisition of a
portfolio of nine Welcome Break MSAs,
situated on major routes across the UK,
with a combined rent roll in the order of
£23 million per annum. The largest MSA
transaction of the last decade.
McLaren – Flagship UK
Store, Knightsbridge,
London
Carried out property search and
acquisition for Jardine Motors to secure
a high profile West End facility for the
supercar brand, for its flagship store
(one of only three in the UK). Identified
and subsequently negotiated lease
terms within the prestigious One Hyde
Park scheme.
Petrol Express portfolio
Conducted pre-acquisition due
diligence for Murco / Scottish Capital
Group of 63 sites across the UK, which
included confidential investigations,
site surveys and provision of sectorspecific advice, enabling a successful
acquisition of the sites and subsequent
grant of new leases to Murco, creating
a valuable investment portfolio.
Our clients:
Retail contacts
Jason Sibthorpe
Senior Director
Agency and Development
+44 (0) 20 7911 2740
[email protected]
Tim Yabsley
Associate
Property Management Consultancy
+ 44 (0) 20 7911 2395
[email protected]
Gavin Brent
Director
Hotels and Leisure
+ 44 (0) 20 7911 2228
[email protected]
Simon Benison
Director
Corporate Services
+44 (0) 113 280 8093
[email protected]
Jonathan Cornwell
Director
Investment
+ 44 (0) 20 7911 2369
[email protected]
Andrew Hart
Director
Valuation
+ 44 (0) 20 7911 2833
[email protected]
Jo-Anne Jones
Director
International Business
and Operations
+44 (0) 20 7911 2528
[email protected]
Paul Hewitt
Director
Building Consultancy and
Project Management
+ 44 (0) 20 7911 2331
[email protected]
Dan Francis
Head of Research
Research and Sustainability
+44 (0) 20 7911 2363
[email protected]
Jerry Burton
Senior Director
Lease Consultancy
+ 44 (0) 117 988 5252
[email protected]
Matthew Morris
Director
Planning
+44 (0) 117 988 5334
[email protected]
Ros Goode
Senior Director
Restructuring and Recovery
+44 (0) 20 7911 2840
[email protected]
William Blockley
Associate
Business Rates
+ 44 (0) 20 7911 2343
[email protected]
Paul Taylor
Senior Director
Automotive and Roadside
+44 (0) 121 609 8455
[email protected]
Sam Vyas
Associate
Industrial and Distribution
+ 44 (0) 20 7911 2267
[email protected]
Alastair Mant
Head of Sustainability
Sustainability
+44 (0) 20 7911 2940
[email protected]
Birmingham
Bristol
Cardiff
Dublin
Edinburgh
Glasgow
Leeds
Liverpool
London
Manchester
Newcastle
Published by GVA
65 Gresham Street, London EC2V 7NQ
©2015 Copyright GVA
GVA is a Bilfinger Real Estate company.
GVA is the trading name of GVA Grimley
Limited and is a principal shareholder of
GVA Worldwide, an independent partnership
of property advisers operating globally.
gvaworldwide.com
08449 02 03 04
gva.co.uk/retail
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