When Vale purchased The Cornbow in September 2001, the centre was looking tired and in need of a new lease of life but there was also demand for units from tenants that wasn’t being fully exploited.

Working closely with the letting agents, lease surrenders were negotiated, new units created, and new tenants were brought into the scheme. As well as these activities, the introduction of a planned maintenance regime tackled a backlog of overdue fabric repairs and maintenance, as well as the replacement of M&E equipment. This has benefited the scheme as a whole, which is now trading above its previous levels.

With a new 80,000 sq ft Asda and MSCP now completed, our challenge has been to incorporate the new space into the service charge structure for the centre which will reduce the overall service charge liability for existing tenants.

Vale has subsequently instructed us to manage the Ankerside Shopping Centre in Tamworth and Garden Square Shopping Centre in Letchworth.

For further information contact Roger Fulford.