NewRiver appoints Lunson Mitchenall on Broadway, Bexleyheath

May 21, 2018

Leading retail and leisure specialist investor NewRiver REIT (NewRiver) has appointed Lunson Mitchenall, the UK’s leading independent retail and leisure agency, to advise on the Broadway Shopping Centre and Retail Park in Bexleyheath.

Lunson Mitchenall’s Shopping Centre Leasing and Catering teams have been appointed to provide NewRiver with tailored advice for the shopping centre and retail park elements. The teams will look to identify new opportunities to help continue to improve the retail-mix, provide long-term leasing solutions and deliver both rental and capital growth. NewRiver has appointed Lunson Mitchenall to act jointly with Jackson Criss.

Located in the centre of Bexleyheath, the Shopping Centre and Retail Park spans 524,100 sq ft, and represents over 60% of the town’s retail space. Boasting an annual footfall of 9 million people, the scheme provides the principle retail destination for a South East London borough earmarked for significant growth. Current retailers include an impressive array of brands including M&S, H&M, River Island, JD Sports and Boots.

As part of the future improvements for the shopping centre, NewRiver will be introducing a 12,500 sqft gym to be operated by The Gym, modernising the car parks to make them more user friendly, refurbishing the physical retail environment and enhancing the customer experience through upgraded customer toilets and childcare. This is in addition to the significant improvements Bexleyheath has seen in recent years.

 

Stuart Mitchell, Director at NewRiver said: “Bexleyheath represents our largest single asset and since our acquisition in 2016 we have been extremely active. We have carried out a number of leasing activities to take the centre to 100% occupancy, introducing a handful of new retailers such as Morley’s, Metro Bank, Flutterbyes and Smiggle as well as completing 15 lease renewals. This shows retailers not only want to come into the centre but also want to remain for the long term.

“We are excited to welcome Lunson Mitchenall to the team. As market leaders they will complement the leasing advisory team and no doubt will bring fresh ideas and new approaches.”

Neil Hockin, Head of Shopping Centre Leasing at Lunson Mitchenall said: “We are delighted to have been instructed by NewRiver on The Broadway. The centre has benefited from NewRiver’s active asset management with a number of enhancements including a new anchor retailer since the Company acquired it in April 2016 and we look forward to helping them build on these successes.

“Lunson Mitchenall work on a number of high profile shopping centre within the M25 and this critical mass gives the team a unique insight into retailer demand across some of the UK’s most prosperous catchments.”

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We are excited to welcome Lunson Mitchenall to the team. As market leaders they will complement the leasing advisory team and no doubt will bring fresh ideas and new approaches
Stuart Mitchell, Director at NewRiver

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