June 30th, 2020
Eddisons were appointed by London-based asset managers Waypoint to manage Houndshill Shopping Centre, Blackpool, on behalf of their South African client New Frontier Properties. New Frontier are listed on the South African and Mauritian stock exchanges.
The Houndshill Shopping centre in Blackpool is over 300,00 sq ft and benefits from an annual footfall of 10 million people. The shopping centre is a covered centre with anchor tenants such as Debenhams, Superdrug, Disney and Costa. However, there are external units within the ownership which have proved challenging to let.
Eddisons began work to actively market and promote these external units to local retailers and uses on short term Licences. The results were encouraging over a number of months and saw occupancy rates improve over time.
Our work has helped develop Houndhill’s retail mix and has been instrumental in a successful void rates mitigation scheme, which has had a positive effect on the centre’s net operating income.