CHASE & PARTNERS - Retail & Leisure Property Specialists

Chase & Partners were first instructed in 1997 by John Laing Developments Limited to advise them on the potential for the redevelopment of Enfield town centre and to promote their interest in an open competition. After successfully securing the appointment, Chase & Partners advised on tenant demand, space requirements and layouts, lettings, site acquisition, Compulsory Purchase and Compensation, forward sale of the investment.

During the course of the development the representatives of Chase & Partners attended liaison meetings with the Local Authority, the public including and local businesses. We also gave evidence at the public inquiry on the Compulsory Purchase Order, and during the development phases constantly reviewed valuation issues and acted as the focal point of the professional team.

Of particular note, the client changed identity on three occasions. John Laing sold out to Kier who in turn disposed of their interest to ING, yet Chase & Partners retained their position as consultants throughout the design and development of the project through to completion including the sale of the investment.

The scheme on completion comprises some 160,000 sq ft (14,864 sq m) of new space in 22 stores alongside a new 530 space multi storey car park and a civic facility for the London Borough of Enfield.

New retailers to Enfield include H&M Hennes, TKMaxx, La Senza, Oasis, Clarks and Jane Norman , the scheme has also provided relocation opportunities for Top Shop, New Look, Dorothy Perkins, Superdrug, Next and River Island.

The key criteria in developing the scheme was to ensure that the development integrated with the existing retail facilities and added to the overall strength of Enfield as a shopping centre, clawing back the 70% expenditure leakage suffered prior to the scheme’s completion. In addition, the development enabled Pearsons, a successful department store, to extend its existing footplate and modernise the rest of its store. The result is to provide a first class shopping facility which has added value to Enfield’s overall retail offer, but without damaging the fabric or creating long term voids in the existing and older Palace Gardens shopping centre adjoining.

By careful management of the tenant mix and relocations, coupled with attracting new retailers to the town, expenditure retention within Enfield’s central area has been doubled, thereby benefiting both the new scheme and the existing facilities.

Chase & Partners were also able to generate a strong working relationship between the Local Authority and the developer, a position which intensified in its importance given the changes in the identity of the developer. This approach by Chase & Partners was crucial to secure a successful completion of the development and retain a good quality team effort from all the stakeholders in the project.