Council buys in Bootle

Published:  03 May, 2017

Sefton Borough Council has completed its purchase of the Strand shopping centre, Bootle

Ellandi and Avenue Capital have sold the 400,000-sq ft centre to the local authority for a reported £32.5m. The pair bought the centre three years ago and during their period of ownership, TJ Hughes was secured as a new anchor tenant, vacancy rates have been reduced from nearly 30 per ent to less than 10 per cent and footfall has increased by 14 per cent year on year.

Ellandi will continue in its role as asset manager working with Sefton to deliver its strategy. Sefton’s investment in the largest shopping centre in its borough marks an ambitious new era for the council and spearheads their ambitious plans for the regeneration of the area; securing jobs, growth and attracting additional private sector investment in the borough.

Ellandi property director Mark Robinson said: “Ellandi is very proud of what we have achieved over the last couple of years, however the work of transforming Bootle town centre has just begun. We look forward to working with Sefton Council to deliver even more exciting change over the next few years.”

“The fact we have secured more than 50 new lettings or lease renewals over the last couple of years, just goes to show the loyal shopping catchment that The Strand has and the potential of this asset at the heart of a great community.”

Avenue/Ellandi were advised by Savills and Sefton BC by Lambert Smith Hampton.

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