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Third-party asset management

Third-party asset management

We opened our third-party asset management platform to third parties in 2018, to capitalise on the growing trend of retail real estate acquisitions by both Local Authorities, in order to generate additional revenue and better serve their communities, and specialist real estate developers, to realise ambitious town centre regeneration projects. 

These acquirers understandably lack the personnel, expertise and relationships to successfully manage these assets on their own, and are seeking a professional and experienced asset management platform such as NewRiver to help them realise their objectives.

 

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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Key contact
 

Stuart Mitchell

Stuart Mitchell
Director
+44 (0) 20 3328 5800

smitchell@nrr.co.uk