08449 02 03 04gva.co.uk

GVA Retail

gva.co.uk/retail

GVA has over 100 retail specialists spread across 12 UK offices covering:

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.

Did you know?

• 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

• Advising on over 15 million sq ft of mixed use development

• Incorporating over 30 potential major food stores

• Acquiring over 50 drive-thru sites

Retail agency and development

LushRetained on a sole agency basis to acquire prime high street and shopping centre premises across the UK.

Virgin Media GVA acts as lead adviser on national acquisitions and portfolio strategy.

Staples 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.

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

Costa CoffeeAdvising Costa Coffee on the acquisition of sites for their new drive-thru format. 32 sites currently in negotiations.

G-Star RawAcquired 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.

Bedford Riverside 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

Build-A-Bear WorkshopRetained on a national basis to inform portfolio strategy and acquire prime high street and shopping centre premises across the UK.

Carluccio’sGVA advises on acquisitions in the north of England.

TUI Travel PlcInstructed to provide portfolio strategy advice and undertake numerous disposals across the UK.

PowerleagueRetained on a national basis to acquire sites between 2-5 acres across the UK for leading 5-a-side soccer centres.

EATInstructed to acquire prime high street and shopping centre premises across the UK with a focus on Greater London.

Mint VelvetAcquiring stores nationally in affluent market towns, London villages and key regional centres.

• Acting for over 100 retailers across the UK

• Seeking in excess of 1,500 locations

Patisserie ValerieProviding agency advice on acquisitions across England and Wales.

TrespassAcquiring stores nationally across high streets and within shopping centres and retail park locations.

Retail agency and development

Addlestone, SurreyGVA assisted Bouygues Development UK to secure the development and is now pre-leasing and advising on scheme design.

St Nic’s Arcades, LancasterGVA 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, BirminghamGVA 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.

Advising on over 30 major food store deals acting on behalf of local authorities, landowners, operators, property companies, banks, developers and investors.

Civic Quarter Site, TelfordGVA was appointed to advise on the sale of this major mixed-use development including retail, leisure, offices and residential.

Princes Walk, Catterick Garrison 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.

Hallsville Quarter, Canning Town 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.

• 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.

Retail investment

White Rose Way, DoncasterRetail 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 LondonLeisure 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, EdinburghPrime 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.

50-54 High Street, Guildford Prime shop acquisition on behalf of Standard Life for £9.86 million to show a NIY of 4.74%. Let to Monsoon/Accessorize.

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.

Retail planning

Bicester Village Retail Outlet Centre, OxfordshireGVA 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.

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.

185-221 Buchanan Street, GlasgowPlanning 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, LondonWe 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.

ASDA, Swinton, Greater ManchesterOn 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.

Bury Town Centre, BuryPlanning consultant to Thornfield Properties PLC on 430,000 sq ft mixed use (retail led) town centre extension.

Dobbies Garden Centres LtdPlanning permissions secured across the UK for 17 new stores, totalling circa 915,000 sq ft for Dobbies Garden Centres Ltd.

   

• 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.

Shopping centre management

Merseyway Shopping Centre, StockportClient: LPA Receiver

Arcadia Centre, Ealing Client: BE Arcadia BV (Benson Elliot)

Cherry Tree Shopping Centre, WirralClient: LPA Receiver

Festival Park Shopping Centre, Ebbw ValeClient: Chester Properties Third Investment Partnership

Fishergate Shopping Centre, Preston Client: BE Preston BV (Benson Elliot)

Arena Shopping Park, CoventryClient: Pavillion Property Trustees Ltd

Kensington Arcade, LondonClient: Comfortable Estates Ltd (Meadow Partners)

Cibi Walk Shopping Centre, AbergavennyClient: Cibi Investments Ltd

Priory Walk, ColchesterClient: Eagle Colchester Ltd (Valad)

The Brunel Centre, Milton KeynesClient: TOPP Bletchley Ltd

Sicilian Avenue, LondonClient: Holborn Links Ltd

Broadstairs Retail Park, Broadstairs Client: Pavillion Property Trustees Ltd

• GVA acts as LPA Receiver on seven shopping centres and asset manages six of them.

Restructuring and corporate recovery

Merseyway Shopping Centre, Stockport

Cannock Shopping Centre, Cannock

Cherry Tree Shopping Centre, Wallasey

Darwin, Pride Hill and Riverside Shopping Centres, Shrewsbury

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, LondonValue: circa £2 billion

St David’s, CardiffValue: circa £500 million

Ravenside Retail Park, Birmingham Value: circa £25 million

House of Fraser, GlasgowValue: circa £45 million

B&Q, BoltonValue: circa £22 million

Longmarket, CanterburyValue: circa £14 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, BalhamWe 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 portfoliosOn behalf of Punch, Enterprise and Brains, we are instructed to undertake portfolio valuations on several thousand pubs.

 

 

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 GymsWe are instructed by Fit Space Gyms to acquire various sites up to 20,000 sq ft across the UK.

   

Brighton Pier

Retail building and project management

• Pre-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 CityPre-acquisition technical due diligence on behalf of Henderson Global Investors.

Westfield London, White City 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.

   Wellington Retail Park, WaterloovilleDue 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 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.

Kingsway Retail Park, DerbyProject management of the construction of a new retail terrace to provide accommodation for three food retailers on behalf of Henderson Retail Warehouse Fund.

The Junction Portfolio, various sites 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.

Primark 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.

River Island 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.

Staples 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.

Carluccio’sGVA 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.

• 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

• Expertise in recovering funds through forensic audit

• Cost savings identified via full rates validation and payment service

Retail rating

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

New clients in 2014

 

The Mall at Cribbs Causeway, BristolOn 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.

The Royal Bank of ScotlandWe are retained across the whole UK and Ireland portfolio for all landlord and tenant work.

Links of LondonLease Consultancy to act on Links of London’s portfolio of stores facing rent reviews and lease renewals in 2014.

Folli FollieGVA appointed to advise on rent reviews and lease renewals for the Folli Follie portfolio during 2014.

WaterstonesLease Consultancy are now advising Waterstones on a number of lease renewal and rent reviews for their 275 store portfolio.

Ignis Asset Management LtdWe 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.

Mint VelvetLease Consultancy are now working closely with retail agency and advising this acquisitive retailer on its national portfolio of stores.

TUI UK LtdWe are responsible for all landlord and tenant work for approximately one third of the UK portfolio including lease regears.

BootsWe 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.

Retail automotive and roadside

• Specialist adviser to the automotive, petroleum and roadside retail sectors

• The longest-standing 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 portfolioAdvised 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, LondonCarried 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 sector-specific advice, enabling a successful acquisition of the sites and subsequent grant of new leases to Murco, creating a valuable investment portfolio.

Our clients:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail contactsJason SibthorpeSenior Director Agency and Development+44 (0) 20 7911 2740jason.sibthorpe@gva.co.uk

Simon BenisonDirectorCorporate Services+44 (0) 113 280 8093simon.benison@gva.co.uk

Jo-Anne Jones Associate International Business and Operations +44 (0) 20 7911 2528 jo-anne.jones@gva.co.uk

Jerry BurtonSenior DirectorLease Consultancy+ 44 (0) 117 988 5252jerry.burton@gva.co.uk

Janet FranklinDirectorShopping Centre Management+ 44 (0) 20 7911 2917janet.franklin@gva.co.uk

Michael ComleyDirectorInvestment+ 44 (0) 20 7911 2452michael.comley@gva.co.uk

Paul HewittDirectorBuilding Consultancy and

Project Management + 44 (0) 20 7911 2331paul.hewitt@gva.co.uk

Matthew MorrisDirectorPlanning+44 (0) 117 988 5334matthew.morris@gva.co.uk

Gavin BrentDirectorHotels and Leisure+ 44 (0) 20 7911 2228gavin.brent@gva.co.uk

Andrew HartDirectorValuation+ 44 (0) 20 7911 2833andrew.hart@gva.co.uk

Hannah BainesSenior ResearcherResearch+44 (0) 20 7911 2184hannah.baines@gva.co.uk

Ros GoodeSenior DirectorRestructuring and Recovery+44 (0) 20 7911 2840ros.goode@gva.co.uk

William Blockley Principal SurveyorBusiness Rates+ 44 (0) 20 7911 2343 william.blockley@gva.co.uk

Tom Poynton Associate Automotive and Roadside +44 (0) 121 609 8523 tom.poynton@gva.co.uk

Sam VyasAssociateIndustrial and Distribution+ 44 (0) 20 7911 2267sam.vyas@gva.co.uk

Alastair MantDirectorSustainability+44 (0) 20 7911 2940alastair.mant@gva.co.uk

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