Site last updated Jul 20, 2010
blue box
Mid–Kent Shopping Centre, Allington, Kent
 
This is a neighbourhood shopping centre comprising a 25,000 sq ft Waitrose supermarket and 20 retail units, 12 residential units and substantial surface car parking. The income on acquisition in 2007 amounted to 511,000 per annum.
Objective

CBGA in conjunction with the client devised a two phased improvement strategy.

The first phase was the part–refurbishment of the Centre, The second phase would involve, working together with Waitrose to increase their sales area, develop 5 new retail units on the excess car–parking areas and generally improve tenant mix within the Centre.

Current Situation

The first phase refurbishment has been completed, which involved: major refurbishment to the pedestrian areas within the centre and some reconfiguration of the supermarkets access, these works have resulted in improved footfall through the centre.

The next phase is in the design stage and we are currently in discussions with a national tenant who wishes to take a pre–let of all the new retails units. It is anticipated that work will commence in Autumn 2009.

The annual rental has already increased to 564,932 per annum and could increase to in excess of 900,000 per annum.

 
 
 
 
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