Benson Elliot picks GVA
Published: 29 November, 2013
GVA secures Benson Elliot shopping centre management mandate
GVA has been appointed to manage a selection of shopping centres in Ealing (London), Yeovil (Somerset) and Preston (Lancashire), each run by the Benson Elliot Real Estate Partners III (BEREP III) fund, managed by Benson Elliot Capital Management.
The 645,000-sq ft portfolio, which also includes a parade of high street shops in Ealing, generates £7.3m in annual rental income.
The assets comprise the Arcadia portfolio in Ealing, London W5 totalling 130,000 sq ft of mixed-use units with anchor stores including TK Maxx and McDonald’s; Quedam Shopping Centre in Yeovil, Somerset, comprising 175,000 sq ft spread over 49 retail and mixed-use units including anchor stores Boots, Iceland and BhS, and; Fishergate in Preston, Lancashire, extending to 340,000 sq ft, with 40 units including Primark and Debenhams.
The property management consultancy team at GVA is providing a full suite of management services to the shopping centres, in support of Benson Elliot’s pro-active business plans for the schemes.
GVA director Janet Franklin said: “Our multidisciplinary proposition will also offer our client a one-stop-shop with wider expertise when and if required.”