FSP, the UK’s leading retail consultancy, has signed a new framework agreement with leading global real estate fund manager, M&G Real Estate, to provide regular bespoke retail research, to help shape the organisation’s in-town and out-of-town asset management initiatives. The new brief builds on the relationship between FSP and M&G Real Estate’s team of leading international asset managers.
FSP has seen an increase in the requirement for analysis and research as supply for retail property continues to outstrip demand. Asset managers are actively seeking to define clear strategies to realise the future potential of assets right across their portfolios. The move sees M&G Real Estate take an holistic approach to increasing asset value by engaging with targeted research and consultancy.
This year, FSP has been commissioned by M&G Real Estate to provide regular research on in-town and out-of-town assets, with bespoke projects including The Grafton, Cambridge, Cwmbran Shopping and Culver Square, Colchester. FSP has also provided pre-acquisition services for its out-of-town team.
FSP has worked on a number of M&G Real Estate assets over the previous five years, including Manchester Arndale where FSP has provided valuable information on shopping trends, helping to achieve year-on-year rises in footfall and an increased shopper population. FSP also assisted M&G Real Estate last year with pre-acquisition studies on the Gracechurch Centre, Sutton Coldfield and Guildford’s Friary Centre, working on strengthening its tenant mix assessment and development.
John Duxbury, Head of Retail at M&G Real Estate, comments: “With £8bn invested in the retail sector, driving investment performance from our shopping centres and retail parks is a key objective for our asset managers. We are delighted to have formalised the framework agreement making it just that bit easier to work more closely with FSP, combining our market expertise and knowledge to create active asset strategies, improving occupier mix, driving footfall and sales in a way that benefits our occupiers, retailers and investors.”
Jo Hewson, MD at FSP adds: “We know our clients want best value when it comes to supporting their retail strategies. Our intention is to provide that bedrock of information to support leasing initiatives, and the key facts retailers require in order to lease new space. We are delighted to be working with M&G Real Estate as the market bounces back.”
Source: FSP
