IM PROPERTIES AWARDS RETAIL PARK MANAGEMENT CONTRACT TO CAPITAL PROPERTIES26 January 2015 / by Capital Properties (author) / Manchester
IM Properties has appointed Capital Properties to undertake the property management of its newly-acquired retail park, Rom Valley Way, in Romford, Essex.
Adjacent to Queen’s Hospital and a significant new residential development near the town’s centre, the four acre Rom Park features four purpose-built retail warehouses totalling 68,000 sq. ft. Current tenants include Mothercare, Carpetright, Pets At Home, B&M Retail Ltd and Pizza Hut.
Mark Burgess, Managing Director at Capital Properties, comments: “We have a great relationship with IM Properties and are delighted to be growing our retail portfolio with them. Rom Valley Way is a well-known park that benefits from a very good location with big-name tenants, who we look forward to working with, especially as we look at creative ways to meet their business needs.”
IM Properties completed the acquisition of the park for £20.5 million in December 2014.
John Hammond, Investment Director at IM Properties, adds: “Rom Valley is an exciting new venture for us with a lot of potential and we look forward to seeing the innovative approach of Capital Properties being put into practice at the retail park, making the most of the asset and helping build our relationship with occupiers.”
Capital Properties already provides its innovative placemaking services for the IM Properties-owned Mell Square Shopping Centre in Solihull, which offers 750,000 sq. ft. of retail space and i currently occupied by a range of high street brands. The property animation side of the business, Capital Life, has undertaken this work through a series of events at the shopping centre, such as Solihull Garden Festival and Mell Scare, a Halloween based pop-up cinema and festival.
Capital Properties currently manages over nine million sq. ft. worth of commercial space across the UK, including high-profile assets in London, Aberdeen, Edinburgh, Birmingham and Manchester. Its rapid growth has also seen the appointment of former England cricket captain Michael Vaughan as Leadership & Development Director, as well as the extension of the Manchester-based team with the opening of new offices in London and Birmingham.
Cushman and Wakefield acted on behalf of IM Properties for the acquisition, with JLL acting on behalf of the vendor.
For more information about Capital Properties, visit www.capitalpropertiesltd.com or call 0161 827 1700.
For more information on IM Properties, visit www.improperties.co.uk.