Vale-Retail Porfolio


Shopping Centres Vale Retail acts as Asset Manager for four shopping centres in the UK. UK The Cornbow Shopping Centre, Halesowen Dominating the retail core in Halesowen the Cornbow Shopping Centre is wholly owned by Vale and was purchased in 2001. 2008 saw the completion and opening of the new Asda store or 78,000 sq.ft. over two floors being part of a £30m 20 month regeneration of Halesowen town centre, including a new 600 space multi-storey car park and new state of the art bus station bring up to 58 buses per hour into the town centre. Under Vale’s stewardship over the last 5 years retail rents have grown from £43 per sq.ft. to £67 per sq.ft as of January 2009. New retailers that have come into the Cornbow include Peacocks, Bon Marche, Argos, New Look, Game Station and Clintons with coffee stops including Druckers and Coffee 2. Vale Retail was delighted to win the ‘BCSC Gold Awards Commendation’, presented on 2 December 2009. Vale directors, Adrian Oliver and Chris Willans, are shown receiving the award from BCSC president, Jeremy Collins and chairman of the awards jury, Neil Varnham with the evening’s host, Andrew Marr. Adrian Oliver said, “a tremendous amount of work and thought went in to the Cornbow, Halesowen – in the planning, preparation and execution stages. We are delighted to have been honoured by the BCSC with this award, which follows the Cornbow’s last award for the refurbishment from the BCSC in 1990/91.” Ankerside Shopping Centre, Tamworth Purchased in 2005. The shopping centre is some 210,000 sq.ft. The principal anchor stores being Dunnes, Boots, HMV, Iceland and Dorothy Perkins. Attached to the scheme is a 650 space car park previously under the management of the local authority. Vale Retail has taken over the car park and spent circa £1.5 million on a complete refurbishment and has let the car park to APCOA on institutional terms. Garden Square Shopping Centre, Letchworth Purchased in February 2007. This is a single level scheme in the centre of one of the UK 's first garden cities. Anchor tenants are Marks & Spencer, Iceland, Boots, Peacocks and other tenants include Bodyshop, New Look, Superdrug and Currys. The scheme is 130,000 sq.ft. and Vale Retail is presently working on opportunities for redevelopment / refurbishment of various areas of the scheme including the Market Hall and consented development opportunities for retail and residential at the front of the scheme at Ley's Avenue. Whitgift Shopping Centre, Croydon Asset Managed upon behalf of the Whitgift Trust this is one of the most important shopping centres in the South East of England, it totals just over 1,000,000 sq.ft. of accommodation with principle tenants including Marks & Spencer's, Top Shop, River Island, Boots and Clas Olson. The shopping centre benefits from an average weekly footfall of circa 500,000 people and plans are being considered for a major redevelopment with space to be created for new anchor stores, fashion and A3 units. Germany City Centre Scheme, Herne Managed upon behalf of a Luxembourg sarl the scheme was first purchased in June 2006. A major redesign of the scheme is underway, Chapman Taylor have designed new finishes, internal and external and the first of a number of pre-lets, New Yorker have been signed and are now trading. Discussions are presently underway with MOL for a 2,000 sq m unit and contracts are about to be signed with Baby Waltz for a 2,500 sq m unit, the refurbishment of the scheme is due for completion mid 2010.

Shopping Centres

Vale Retail acts as Asset Manager for four shopping centres in the UK.

UK

The Cornbow Shopping Centre, Halesowen

Dominating the retail core in Halesowen the Cornbow Shopping Centre is wholly owned by Vale and was purchased in 2001. 2008 saw the completion and opening of the new Asda store or 78,000 sq.ft. over two floors being part of a £30m 20 month regeneration of Halesowen town centre, including a new 600 space multi-storey car park and new state of the art bus station bring up to 58 buses per hour into the town centre.

Under Vale’s stewardship over the last 5 years retail rents have grown from £43 per sq.ft. to £67 per sq.ft as of January 2009. New retailers that have come into the Cornbow include Peacocks, Bon Marche, Argos, New Look, Game Station and Clintons with coffee stops including Druckers
and Coffee 2.

Vale Retail was delighted to win the ‘BCSC Gold Awards Commendation’,
presented on 2 December 2009.

Vale directors, Adrian Oliver and Chris Willans, are shown receiving the award from BCSC president, Jeremy Collins and chairman of the awards jury, Neil Varnham with the evening’s host, Andrew Marr.

Adrian Oliver said, “a tremendous amount of work and thought went in to the Cornbow, Halesowen – in the planning, preparation and execution stages. We are delighted to have been honoured by the BCSC with this award, which follows the Cornbow’s last award for the refurbishment from the BCSC in 1990/91.”

Ankerside Shopping Centre, Tamworth

Purchased in 2005. The shopping centre is some 210,000 sq.ft. The principal anchor stores being Dunnes, Boots, HMV, Iceland and Dorothy Perkins.

Attached to the scheme is a 650 space car park previously under the management of the local authority.

Vale Retail has taken over the car park and spent circa £1.5 million on a complete refurbishment and has let the car park to APCOA on institutional terms.

Garden Square Shopping Centre, Letchworth

Purchased in February 2007. This is a single level scheme in the centre of one of the UK 's first
garden cities.

Anchor tenants are Marks & Spencer, Iceland, Boots, Peacocks and other tenants include Bodyshop, New Look, Superdrug and Currys.

The scheme is 130,000 sq.ft. and Vale Retail is presently working on opportunities for redevelopment / refurbishment of various areas of the scheme including the Market Hall and consented development opportunities for retail and residential at the front of the scheme at Ley's Avenue.

Whitgift Shopping Centre, Croydon

Asset Managed upon behalf of the Whitgift Trust this is one of the most important shopping centres in the South East of England, it totals just over 1,000,000 sq.ft. of accommodation with principle tenants including Marks & Spencer's, Top Shop, River Island, Boots and Clas Olson.

The shopping centre benefits from an average weekly footfall of circa 500,000 people and plans are being considered for a major redevelopment with space to be created for new anchor stores, fashion and A3 units.

Germany

City Centre Scheme, Herne

Managed upon behalf of a Luxembourg sarl the scheme was first purchased in June 2006.

A major redesign of the scheme is underway, Chapman Taylor have designed new finishes, internal and external and the first of a number of pre-lets, New Yorker have been signed and are now trading.

Discussions are presently underway with MOL for a 2,000 sq m unit and contracts are about to be signed with Baby Waltz for a 2,500 sq m unit, the refurbishment of the scheme is due for completion mid 2010.