Asset Sale Completes Repositioning Journey
So the time has come to bid a fond farewell to Castle Quarter after asset managing the scheme for 13 years following the recent sale to Maritime Capital. It is one of the more unique assets we have been involved with – having been built into a hill next to a medieval castle and required some creative thinking to respond to the changes in the retail market over that time.
We navigated these changes by devising and delivering a strategy that has transformed the centre from a retail focused scheme to the number one family retail, leisure and lifestyle scheme in the city; the floor space is now evenly split between retail and leisure / F&B.
A big thank you to Munroe K, the centre team, Jamieson Mills, Roche and MS for their hard work in helping us to deliver (amongst other things):-
- Refurbished malls, entrances and rebranded the centre
- Leasing of 100,000 sq ft to leisure occupiers (including UK’s first Boom Battle Bar and Putt Putt Social)
- Regeared leases with key tenants including Boots, TK Maxx and Vue (which included a recliner refit)
- Installation of PV panels – providing 5% of the centre’s energy
- Numerous Awards including a prestigious Green Apple (Gold) Award for ESG work
Norwich Castle, next to Castle Quarter, has recently reopened after a £27.5M refurbishment and begins the next chapter in its story; Castle Quarter also starts its next chapter…
