Ellandi has successfully acquired twenty nine Community Shopping Centres in the last four years, either as individual transactions or corporate acquisitions and often as the result of the purchase of a debt instrument and successful restructuring.
Our investment criteria, when assessing a Community Shopping Centre, is that it ideally:
- Is the prime shopping location within its town
- Comprises approximately 30% of the main shopping floor space within the town
- It dominates its 10 minute catchment; and
- Retailers trade from there profitably
If a scheme fulfils these criteria then will already be established, or has potential to be, the main destination for that communities everyday shopping needs.
Our goal is then to once again put our town centres back at the heart of their communities.
Many of these initiatives can be brought together by actively engaging in social media; not only can this conversation lead to increased engagement with our shoppers, but we can offer our occupiers targeted access to our catchments for promotions and marketing.
We have now closed four deals with Ellandi and have been impressed, not only with their cradle to grave approach to acquisitions, but their on-going commitment to achieving the business plans.
Being experienced equity investors, we are delighted to be working with a new generation of operating partners.
Ric Lewis, CEO, Tristan Capital Partners
However there is only so much we can achieve without investment of hard cash.
All of our schemes are bought with plans for significant capital investment; whether it is for refurbishment or by way of incentives to attract new tenants. Given that we believe that it is essential for town centres to provide a proper mixed use amenity for our customers, much of our investment is focused on securing complementary uses such as cinemas, restaurants and hotels.
To achieve the impact we desire takes time, as such we are long term investors, typically up to five years and we actively engage with all local stakeholders, such as the local authority; typically taking a leading role in advocating and promoting our town centres.
Our portfolio has the critical mass to justify recruitment of industry experts into the team and helps foster deep relationships with our core occupiers.