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Third-party asset management

Third-party asset management

Our market-leading platform comprises a highly experienced team of asset managers working alongside finance, development and marketing professionals, and has a track record of delivering growing returns. In addition to servicing our owned assets, this platform manages assets held by our joint ventures and supports third-party owners, which realise the benefits that the scale, relationships and governance credentials of a major asset manager can provide.

Over the past year we have been actively marketing our platform to third-party owners of retail assets, particularly Local Authorities, which have become increasingly acquisitive of these assets, as they seek to take control of their town centres and better serve their communities.

 

Our current mandates

 
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Whitefriars Shopping Centre, Canterbury

Owner: Canterbury City Council

In September 2018, we were appointed by Canterbury City Council to manage Whitefriars Shopping Centre in the heart of Canterbury. The 474,000 sq ft centre is the dominant regional shopping destination for East Kent and is anchored by Fenwicks, Marks & Spencer, Next and Primark. The shopping centre has been fully owned by the council since February 2018.
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High street units, Market Harborough

Owner: limited company owned by Market Harborough District Council

In March 2019, we sold two high street units, comprising stores let to Tesco and B&M, to a limited company owned by Market Harborough District Council. At the same time, we signed an agreement to manage the assets. The assets were acquired as part of the Council's strategic acquisition programme, in line with the Harborough Local Plan and the 'Invest in Harborough' initiatives. 
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Nicholsons Shopping Centre

Nicholsons Centre, Maidenhead

Owner: Areli Real Estate

In May 2019, we signed an Asset Management Agreement with Areli Real Estate, an urban regeneration specialist, to manage Nicholsons Shopping Centre, Maidenhead. The 190,000 sq ft centre is situated in the heart of Maidenhead, with a convenience and value-led retailer line-up including Tesco, Iceland, Superdrug, The Works and Starbucks, and a 734 space multi-storey car park, which is the main parking provision for the town. 
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Morrisons-Kirkby

Kirkby Town Centre, Merseyside

Owner: Knowsley Council

In November 2019 we signed an agreement with Knowsley Council to become strategic asset manager of Kirkby Town Centre, Merseyside, providing strategic asset management and business planning advice to the council, and ongoing asset management services. There is also the potential for us to provide development monitoring services when the council begins construction of a 45,000 sq ft Morrisons superstore at the site.



 
   

Key contact
 

Stuart Mitchell

Stuart Mitchell
Director
+44 (0) 20 3328 5800

smitchell@nrr.co.uk