We acquired the Bear Lanes Shopping Centre in Newtown below its current market value due to the property being acquired in a portfolio purchase.

Built in 1989, the 40,750 square foot property forms a core part of the town centre and has 20 shop units.

Having completed a lengthy due diligence on the mix of retail in the shopping centre and the surrounding area, we foresaw the potential for a large clothing shop.

Our background and experience in retail investment means we’re able to curate the right mix of shops to encourage footfall.

We approached New Look to provide a vibrant new outlet in the centre, as we felt that the retail offer had become a little tired in Newtown.

With a smart refurbishment of several units, creating a large single unit, we were able to let the new unit to New Look for a 10-year term.

Their anchor presence encouraged other retailers to come on board, which created stable income.  

As well as providing an excellent income stream, New Look’s 10-year covenant also strengthened the overall parade's stability.

The centre was sold on the open market, which would have been financially unviable without our hard work to refurbish and regenerate the asset.

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