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.