We Turn Failure on its Head
Posted by CBRE In_vestment on 1st Dec 2015
Some of the retail and leisure property sector's top guns in turnaround and active asset management have carved out impressive niches, writes Sean Kelly. While they may all have different approaches, they all believe there's still plenty more opportunity.
Now I've done it! Not two minutes into the conversation with Mark Robinson, Investment Director of Ellandi LLP and the approach his company adopts, and I'm 'quids out' - to the benefit of the company's post-work drinks fund.
"Drinking fine!" the bearded Robinson calls out as he sits in the boardroom of the company's offices in central London, a Hermes bag's throw from Fortnum & Mason.
Robinson is 'fining' me (although by the end of the interview he gracefully doesn't collect) - all because I uttered the words "secondary property". It's a phrase most definitely frowned upon at Ellandi, a company founded in 2008 that has carved out a statement making property sector niche through some interesting acquisitions and some very active asset management.
The property Ellandi targets may be seen by others as (dare I repeat?) "secondary" or perhaps, less than prime, but that's not the way that the plain-speaking Robinson or his colleagues view it - preferring to call their portfolio of 19 centres (including the Strand Shopping Centre in Bootle, Merseyside and the Newlands Shopping Centre in Kettering) it has acquired as "community" or "neighbourhood shopping destinations".
Read Sean's full article by following the link below.