Sefton Borough Council has completed its purchase of The Strand Shopping Centre, Bootle
Posted by Ellandi on 2nd May 2017
The town centre scheme was previously owned by American investor Avenue Capital and Ellandi, the UK’s leading Community Shopping Centre investor. During their period of ownership, TJ Hughes were secured as a new anchor tenant, vacancy rates have been reduced from nearly 30% to less than 10% and footfall has increased by 14% year on year.
Sefton’s investment in the largest shopping centre in its borough marks an ambitious new era for the council and spearheads their ambitious plans for the regeneration of the area; securing jobs, growth and attracting additional private sector investment in the borough.
Ellandi, who have asset managed the shopping centre for the last 2 years will continue in this role, working with Sefton to deliver their strategy.
Mark Robinson, Ellandi’s Property Director commented “Ellandi is very proud of what we have achieved over the last couple of years, however, the work of transforming Bootle town centre has just begun. We look forward to working with Sefton Council to deliver even more exciting change over the next few years.”
“The fact we have secured more than 50 new lettings or lease renewals over the last couple of years, just goes to show the loyal shopping catchment that The Strand has and the potential of this asset at the heart of a great community.”
Avenue/Ellandi were advised by Savills and Osborne Clarke. Sefton BC were advised by Lambert Smith Hampton and Addleshaw Goddard.