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In-Town: Bligh's Meadow – Sevenoaks

Bligh’s Meadow – Sevenoaks

Client: Ironbridge Estates

Instruction: Asset Management

Following the successful opening of Bligh’s Meadow in 2000, we were retained by the landlord to advise on asset management strategy.

We considered a number of initiatives and identified areas of the scheme that were suitable for further development. In advising on extensions we considered tenant demand, design of new units, value and had special regard to tenant mix. Any additional development had to add to the overall attraction of Bligh’s Meadow, which won considerable local support when it opened, complementing the existing retail offer in the historic market town, especially the established retail pitch in the High Street.

A second phase of development saw extensions to the southern end of the car park and attracted further new retailers to the town including McDonalds, Laura Ashley, Robert Dyas and Café Rouge.

We identified the availability of an adjacent parade of shops fronting High Street, where tenants included Dorothy Perkins and First Choice. We advised on the purchase of this investment, which given its High Street frontage was seen as a strategic acquisition for future potential redevelopment and a natural extension to Bligh’s Meadow.

Rent reviews were negotiated on behalf of the landlord with rental uplifts being secured throughout the scheme. Surrenders and re-lettings were pursued to improve the retail offer and tenant-mix and new retailers including Marks & Spencer, Body Shop and Phase 8 were all attracted to the scheme.