The three Rs of Urban Regeneration
David Lewis sets out his thoughts and optimism on the future of town centres in an interview by GCW featured in their Spring newsletter.
Click the link below to read the full GCW article.
RivingtonHark completes the purchase of The Liberty Centre, Romford
RivingtonHark are pleased to announce the completion of the purchase of 790,000 sq ft Liberty Centre in Romford on behalf of funds they strategically manage. The 13-acre freehold asset dominates the prime town centre and is close to the new Elizabeth Line Station.
Working with stakeholders, including the London Borough of Havering, there is significant potential to improve and rejuvenate the town centre, with the scheme attracting over 17 million people annually. This will involve better connectivity to the residential areas, improvement in public areas and opportunity for well-planned expansion of the existing town centre mixed-use offering.
The acquisition highlights RivingtonHark’s focus on urban assets where the underlying fundamentals are sound but where there is an opportunity to improve and enhance across a range of metrics. Critically allowing investors access to assets where environmental and social sustainability credentials can be constantly improved, and additional uses can be brought in that benefit the broader community.
RivingtonHark were supported by DLA, Time Retail Partners and Montagu Evans who will take on the property management. RivingtonHark have been appointed as asset manager. CBRE and Shoosmiths represented the vendors.
Escape Hunt plots new adventure at Norwich's Castle Quarter
Destination’s leisure offer further enhanced by arrival of escape room operator
Escape Hunt Norwich in Castle Quarter is the latest site for the global escape room operator as it brings even more adrenaline pumping, five-star rated escape rooms to East Anglia. Having opened its first Norwich venue in 2020, Escape Hunt has already secured its position as the number one activity on TripAdvisor. With brand new escape room adventures on the way, players are invited to step into new worlds packed with excitement. Whether it’s outdoor city-wide adventures, epic escape rooms or virtual reality games, players have to work together to find clues, solve puzzles and complete ground-breaking missions before time runs out.
Escape Hunt has taken units 6 & 7 Timberhill Terrace – totalling 4,930 sq ft – on a new ten-year lease.
The arrival of Escape Hunt further enhances the leisure offer at Castle Quarter, which has grown to become central Norwich’s leading lifestyle and social destination. It joins other occupiers such as Boom Battle Bar – part of the same company as Escape Hunt – Superbowl, Putt Putt Noodle, Spy Missions, Puregym and Vue. Imminent further openings include Hotpod Yoga and Castle Social, a new 20,000 sq ft ‘market hall’ style street food and entertainment concept occupying Castle Quarter’s entire top floor.
Mark Harvey, Executive Director and Head of Asset Management at RivingtonHark, said: “Escape Hunt is a fantastic addition to Castle Quarter, further enhancing the leisure offer with its hugely popular immersive experiences. With a first-rate selection of competitive socialising options and further openings on the horizon, such as the Castle Social market hall, Castle Quarter is Norwich’s leading social and lifestyle destination.”
Escape Hunt CEO Richard Harpham commented: “We’re thrilled to be opening a new venue with brand new adventures in Castle Quarter, in Norwich. The shopping centre is growing their incredible mix of leisure experiences, and with our sister brand BOOM BATTLE BAR as neighbours, Escape Hunt is in great company.”
RivingtonHark was advised by Jamieson Mills and Roche Chartered Surveyors, Escape Hunt Group was represented by Western Ridge.
Mark Williams receives Real Estate Visionary of the year award 2022 at the UKREiiF conference in Leeds
Mark Williams, Executive Director and co-founder of RivingtonHark has been awarded “Real Estate Visionary” of the year, at the inaugural UKREiiF conference in Leeds. The award recognizes Mark’s work as past Chair of the Government Retail Property Task Force, previous presidency of Revo and the successful joint leadership of RivingtonHark.
RivingtonHark is at the forefront of the regeneration and rejuvenation of Towns and Cities across the UK, making them better places for all people who use them. Working on behalf of both the public and private sectors it is delivering the much-needed change resulting from the structural shift in retail and the post pandemic recovery; Including the recent completion of the groundbreaking Copr Bay in Swansea, Chester Northgate which is due to open later this year and commencing works on the transformation of Newcastle City Centre.
RivingtonHark is also the most active specialist investment and asset management platforms acquiring shopping centres in the UK. Working with global funds the business is acquiring core retail and leisure assets where we can bring our expertise to enhance investment returns, long term vibrancy and sustainability.
Due to successful leadership RivingtonHark has doubled its corporate activities in the last year and is anticipating further growth as the requirement for expertise and guardianship of town centre real estate grows. The RivingtonHark team are both passionate and highly experienced at delivering successful and sustainable places and are privileged to work with some phenomenal investment partners, clients, and stakeholders
Mark’s award recognises this progress, vison, and success.
Indirock has landed!
Brand new bouldering centre, Indirock, opened its doors in March and brings a new lease of life to the Victoria Centre
RivingtonHark are delighted to announce that bouldering wall business Indirock has officially opened in Southend. The bouldering wall – which is housed in a 7,500 square foot former retail unit on the first floor- represents an exciting shift in the use of retail space within the Victoria Centre.
Starting as the dream of husband and wife Emily Vermont and Gordon Conroy in 2019, Indirock was supported on its journey by Southend-on-sea and RivingtonHark in transforming a long-term empty unit within the Victoria Centre and turning it into an exciting new space.
Indoor climbing wall Indirock seeks to give locals and visitors the opportunity to bring some adventure to their every day, by taking part in one of the UK’s fastest growing pastimes. Bouldering is the simplest form of rock climbing, no need for ropes or harnesses. Just a pair of shoes, some chalk and you’re ready to go. Which means it has something for everyone: from experienced climbers to complete beginners. Currently welcoming adults and children aged 6+, and with classes starting for younger children in April.
Emily Vermont, Founder and CEO of Indirock, says: “We are beyond excited and relieved to finally have opened our doors to the public after three years of tireless work. We felt strongly that we didn’t want to be one of the voices complaining about our high street – instead we wanted to be part of a new chapter. With the council buying the Victoria Centre at the end of 2020, and Southend’s new status as a City, the opportunity is even greater for Indirock to contribute to the area which we love and call home.”
A passion for climbing, as well as a social conscience, inspired the business to be built on 3 fundamental aims:
● Creating the most accessible bouldering wall in Southend
● Being part of the revival of the town centre
● Supporting vulnerable young people from the local area into work
Indirock’s mission aligns with many of Southend Borough Council’s 2050 Plan ambitions: to connect and involve the community; encourage locals to be active and ultimately create a sense of pride and joy in Southend.
Mark Harvey, Executive Director and Head of Asset Management at RivingtonHark says: “This letting is an important first step in our journey to revitalise the centre and, in particular, our aim of bringing in more leisure and community based facilities. It has been great to deal with the Co-founders of the business who are passionate about the project and the positive impact this initiative will bring to the local community. We share their vision and think that Indirock is the perfect catalyst for our wider plans for the asset and we are thrilled to have them open within the centre and ready to go for Easter”.
Castle Quarter welcomes new street food concept
Market Asset Management to curate new ‘Castle Social’ street food and entertainment offer in Norwich
As part of the continued work in repositioning the asset as a mixed-use destination, RivingtonHark are pleased to announce that Norwich’s Castle Quarter is to be the new home for an innovative new street food market following the letting of its entire food court to specialist operator Market Asset Management (MAM).
MAM will transform the space into ‘Castle Social’, a new dining and entertainment concept incorporating five new street food kitchens, a live performance space and a programme of regular events. MAM has signed a ten-year lease on the 18,500 sq ft area.
Occupying the top floor of the centre with great views of the city’s medieval Castle, and capitalising on the outside space provided by the external garden terrace, Castle Social will bring in local, independent operators to create an iconic venue and destination in its own right. As a leading market and food hall operator MAM manages successful schemes across the UK, such as the independent food hall Sheffield Plate and Doncaster’s award-winning markets.
With leisure operators such as Vue, Boom Battle Bar, Putt Putt Noodle mini golf, PureGym, Superbowl and Spy Missions open and trading – alongside a consolidation and re-anchoring of the retail offer – Castle Quarter is Norwich’s go-to location for socialising as well as shopping.
Mark Harvey, executive director and head of asset management at RivingtonHark, said: “Offering a range of local independent street food operators, alongside a bar and entertainment, Castle Social will create a destination that people will actively choose to visit and support the other fantastic activities we have in the centre. Catering for everything from a morning coffee to post-cinema cocktails, it will bring new people to the centre and is emblematic of the wider transformation taking place at Castle Quarter. We can’t wait to welcome Market Asset Management to Norwich and help its curation of a truly unique space for the city.”
Hayden Ferriby, commercial director at Market Asset Management, added: “We are so excited about opening our latest venue in such a special location. We always aim to bring something that goes beyond just food and drink, and Castle Quarter provides a fantastic opportunity to welcome the local community to something truly unique. People want more than just shops or food on their own, they want a unique destination that gives them an experience to remember, and that is our aim with Castle Social.”
RivingtonHark was advised by Jamieson Mills and Roche Chartered Surveyors, while Market Asset Management was unrepresented.
RivingtonHark appointed as Strategic Asset Advisor, Development & Leasing Manager at Enfield
Following a rigorous procurement exercise RivingtonHark has been appointed as Strategic Asset Advisor, Development Manager and Leasing Advisors for Palace Gardens and Palace Exchange shopping centres in Enfield
The schemes have 63 units totalling 380,000 sqft, are anchored by M&S and Waitrose with two multi storey car parks totalling 1,513 parking spaces. Together, they form the prime shopping pitch for the town and wider borough of Enfield.
The investor acquired Palace Exchange Shopping Centre, Enfield in 2017 and in 2018, subsequently acquired the adjacent Palace Gardens Shopping Centre.
RivingtonHark’s specialist shopping centre team will be supporting the owner’s asset management team whilst our development and regeneration team work with all stakeholders to devise a deliverable mixed use business plan that seeks to transform the area, improve the asset and un lock the inherent potential of the site.
The appointment followed a truly collaborative effort across the expertise within the company and demonstrated the broad skill sets within RivingtonHark and our experience of working successfully with Local Authorities.
David Lewis, Executive Director and Strategic Lead across the project commented ‘ This instruction is a fantastic opportunity to bring all RivingtonHark’s experience to an important London Borough with lots of potential in much need of improvement. We look forward to working with the owner’s asset management team to fulfil the potential that Palace Gardens and Palace Exchange shopping centres clearly have’.
RivingtonHark secures Amy Blackwell from London & Continental Railways (LCR)
RivingtonHark has appointed Amy Blackwell to lead their ESG programme and as a Director of Asset Management
She will play a key role in the enhancement of both private and public sector assets, drawing on her extensive retail and placemaking experience to ensure continual futureproofing of assets and creating material environmental and social value.
On the asset management side, Amy will be heavily involved in executing the strategy with Redical Holdings, including the running of Victoria Leeds that has been recently acquired.
Amy was a Director of London and Continental Railways Ltd (LCR) where she led the asset management team. Her roles included creating best value at least cost for all built assets, chaired various Governance panels, and developed their sustainability initiatives. She also ran the historic repurposing of the former international Eurostar terminal at London Waterloo Station into a new retail and leisure destination.
Amy brings experience from her time in Fund Management at Lothbury Investment Management, where she was primarily responsible for the strategic asset management of high street and out of town retail properties. Prior to this, at Intu Properties PLC she enhanced the tenant mix and undertook repurposing initiatives at shopping centres in Uxbridge and Milton Keynes.
Mark Harvey, Executive Director at RivingtonHark says “we are delighted Amy has joined, both to lead and expand the important work we have been doing on ESG across our portfolio but also in our partnership work with Redical Holdings including the recently acquired Victoria Leeds project. Her placemaking skills are also going to complement the work we do across the portfolio.”
Amy Blackwell, Director of Asset Management, added: “I am passionate about creating sustainable communities and environments and look forward to working with the experienced team at RivingtonHark and their clients to deliver these.”
Wow Wow Wow
Test events go down a storm at the Arena
Test Events are bringing fantastic feedback: The Copr Bay Arena opened it’s doors on Friday and Saturday to the public who were invited to help test the venue ahead of formal opening later in March. Those arriving were able to experience, for the first time, the new bridge crossing Oystermouth Road and then the pure ‘magic’ of the LED light display which cloaks the building. Inside the WOW factor continued within the foyer, a triple height space which is defined by the glittering, gold, feature ceiling and sweeping spiral stair which connects the different levels.
Local bands took to the stage and brought a taste of what is to come for Swansea, as an enthusiastic audience were treated to the amazing sound system and could stand in awe of the full splendour that is the 3,500 capacity auditorium. An amazing team effort from all concerned to get to this pivotal moment !
RivingtonHark are proud to be the Development Managers for this truly transformational regeneration project. City & County of Swansea are developing Copr Bay and it is part-funded by the £1.3bn Swansea Bay City Deal. The new bridge over Oystermouth Road is part-funded by the Welsh Government through the Active Travel initiative.
New Lettings Announced at Copr Bay
With final preparations now underway by RivingtonHark and City & County of Swansea Council to launch the first phase of Swansea’s £135m Copr Bay scheme, we are thrilled to announce a trio of new, locally-led businesses will take up space at the new district.
KokoDoo Korean Fried Chicken,
Frozziyo – a frozen yoghurt concept and
Imperial Candy – worldwide sweet treats
Each has signed leases for Cupid Way, a new commercial and F&B hub that connects the city centre to the new Swansea Arena and 1.1-acre coastal park.
The lettings, which were secured and progressed by Copr Bay development manager RivingtonHark, come amid final preparations for the launch of the multi-million pound scheme in the coming weeks, with the new 3,500-capacity arena set to start hosting test events later this month.