The Forge is a purpose-built community shopping centre totalling over 500,000 sq ft including cinema, shops, market hall, Asda and 1,800 surface car parking spaces.

Working in a JV with Ares, we acquired the asset off market, repurposed it and sold to a UK Fund exceeding target returns.

Aim:

To create value by careful investment and re-anchoring of the asset.

Achievement:

• Creation of 50,000 sq ft extension let to Primark and Dunnes
• Development of the master plan for wider regeneration
• Upgraded some of the malls

Resulting in sale to Grosvenor Shopping Centre Fund for £120m. Achieved 2 x Equity multiple and 30%+ IRR.