On the back of advising on the Arcadia insolvency, GCW is helping Deloitte dispose of the group’s high street assets. The team’s targeted marketing campaign is tapping into local demand to secure the sale of 20 retail properties.
In January GCW began marketing 20 of Arcadia’s freehold assets on behalf of administrator Deloitte. The vacant properties mostly comprise old Dorothy Perkins, Evans, and Burtons units in high streets right across the country. By the end of July, GCW had already secured 14 sales, with the remaining 6 under offer.
With lot sizes ranging from £200,000 to £3m, the assets attracted attention from a range of potential purchasers. GCW used its market knowledge to devise a bespoke marketing strategy for each location. Many of the units required significant investment yet given the lot sizes, offered an opportunity for local retailers or property entrepreneurs to access prominent high street properties.
Be it an individual wanting their first coffee shop, or local developer looking to convert a unit into a block of flats, GCW has demonstrated its ability to exploit pent up demand.
GCW Surveyor, Caryl Howell, said: “The sales, particularly those involving outdated properties in challenging towns, highlight the level of investor appetite for repurposed assets within local markets. It is encouraging that there is still so much interest in acquiring high street assets. These sales are also testament to GCW’s marketing approach and town centre expertise.”