RivingtonHark were appointed as strategic asset advisors and operating partner by Redical Holdings to identify, acquire and help grow the number of shopping centre assets under management. The first acquisition for the Fund was Clayton Square in September 2021 which provided a 170,000 sq ft scheme at the heart of the city and strategically close to Liverpool’s two railway stations, main bus station and central multi storey car parks.  RivingtonHark know the asset well, having originally transformed it on behalf of previous owners in 2014-15 from a failed 2 level shopping centre into the prime mixed use asset it now is.

At purchase the asset was well let and provided a mix of retail, leisure and F&B occupiers as well as benefitting from a new Flannels flagship department store (120,000 sq.ft) opposite.

Key occupiers of Clayton Square include Boots (with its largest single trading level store in the UK), B&M, Tesco Express, Vision Express, Lane 7, McDonalds, The Gym and EE.

Our work has achieved the following:

• Within 12 months of purchase we achieved 100% occupancy through reconfiguring vacant space to create a unit for Flip Out to further enhance the leisure offer.
• Regeared Boots’ lease
• Regeared the lease with Vision Express which delivered a store refit (the first in Europe reflecting their new store design)

We continue to Asset Manage Clayton Square and deliver financial returns ahead of the Business Plan.