KLM Retail are delighted to have advised Rockspring Property Investment Managers, on behalf of its UK Value 2 Fund, in securing two new lettings at Clayton Square in Liverpool.
A 3,500 sq ft unit at 18-22 Church Street has been leased to McDonald’s and a 13,000 sq ft unit fronting Great Charlotte Street has been leased to Bon Pan Asian restaurant.
The signings follow recent new entrants including Glamour Forever and Bodycare. The asset is now 98% occupied, with strong expressions of interest on the two remaining units.
Located in Central Liverpool, between Liverpool Lime Street and Liverpool Central stations, Clayton Square shopping centre is situated close to Church Street and Liverpool One Shopping Centre and opposite St Johns Shopping Centre. The retail scheme comprises 141,000 sq ft, including 17 shops, which are predominantly outward facing but include one covered mall, a restaurant and a gym.
Kim Sardar, European Director at Rockspring said: “When we acquired Clayton Square we identified a number of opportunities to drive income. In just over a year of ownership, we have substantially implemented our business plan well ahead of projected timelines and secured a number of lettings which have significantly improved the income profile of the centre, and diversified the tenant mix driving footfall and increasing the vitality of the scheme.”
Rockspring UK Value 2 is the second fund in a sequential, UK-only closed-ended real estate strategy with a core plus risk profile. The Fund held its final close in February 2015, securing a total of £342m of equity from 11 investors for the Fund, which will have a duration of seven years.
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