THE BRIEF
Client and Location: Stoughton Grange Rural Centre, located in Leicester.
Sector: Offices, Retail, Leisure, Land.
Services Provided: Property & Asset Management, Professional Services, Agency and Development: Asset Management, Property Management, Leasing & Tenancy (L&T), Lettings.
Challenge: In 2016, Stoughton Grange, a boutique retail, leisure, and business space within a 15th-century estate, faced the challenge of underutilisation and limited tenant occupancy. With only four of the 20 units let, the Centre required a strategic rejuvenation to enhance its value and functionality.
Client Testimonial
“Matt and the team at Innes England have been instrumental in getting this deal over the line, going above and beyond to deliver, so a huge thanks goes to them. There were some complex negotiations which Matt and the wider team of consultants guided us through, and we are thrilled with the result.
“This would not have been possible without the hard work, dedication and endeavour that they have put into this site since 2016 and this is a real success story. We wish the new owners, with Innes England acting for them, the best of luck for the future.”
Rob Bignold, Head of Special Assets at the Co-operative Group
The Solution
The Property & Asset Management team took a proactive approach to transform Stoughton Grange. This involved:
- Tenant mix improvement: Curating a diverse and quality tenant mix to elevate the centre’s profile.
- Infrastructure upgrades: Implementing significant site improvements for the benefit of current and prospective tenants.
- Strategic marketing and lettings: Employing effective marketing strategies to attract and secure tenants.
- Comprehensive management: Overseeing every aspect of property management, from tenant relations to maintenance, ensuring a vibrant and functional space.
The Results
- Tripled rent roll: The rent roll of Stoughton Grange more than tripled, reflecting the successful enhancement of the centre’s value.
- Full tenancy: Achieved full occupancy with a mix of high-quality tenants, revitalising the centre’s business environment.
- Sale and continued management: Successfully brokered a multi-million-pound sale of the site on behalf of The Co-operative Group. The new owners, impressed with the growth and potential of the site, retained Innes England for ongoing management.
- Future developments: Plans for further development, including a farm shop and distillery, indicate a bright future for Stoughton Grange.
Conclusion
Stoughton Grange Rural Centre’s transformation under Innes England’s management showcased our expertise in revitalising properties by enhancing their value, functionality, and appeal to tenants and investors. The centre is a demonstration of our ability to manage and reposition assets effectively, ensuring both clients’ and tenants’ success and satisfaction.