Interchange Retail Park Pre-Acquisition Assessment
About the brand
Interchange Retail Park is busy retail park, located on the south side of Bedford close to the A453. Occupiers at the 170,000 ft2 site include Toys R Us, Matalan, Boots, Sports Direct, Outfit, Clarks, Pets at Home, Argos Extra, Next, TK Maxx, Costa, McDonald's.
Legal & General Investment Management commissioned Pragma to help inform their purchase decision for Interchange Retail Park.
Provide detailed insight the retail catchment, including comparable locations
Identify future competitive threats and growth opportunities
Assess the sustainable rent for each occupier and identify significant risks
WHAT WE DID
Pragma undertook a detailed site review, supported by desk-based research and information held in our extensive databases
Pragma use drive time software to model the catchment, evaluate population characteristics and expenditure and identify similar retail parks elsewhere in the UK for benchmark comparison
A review of pipeline retail developments was undertaken to identify future threats to trading performance
Pragma analysed the trading performance and rent sustainability of each occupier at the site to evaluate income risk
Pragma recommended a number of tenant, environment and marketing initiatives which would continue to drive value at the site post acquisition
Legal & General completed the acquisition of the site in April 2017 for £91.5m.
Pragma continues to work with Legal & General on a retained basis to provide support for ongoing leasing activity.