Sprucefield Centre
Background
Quadrant was appointed by the Marks & Spencer Pension Fund to provide asset and development management services for The Sprucefield Centre, Lisburn, one of Northern Ireland’s most prominent retail destinations. The scheme is anchored by a 165,000 sq ft Marks & Spencer store, the largest M&S in Ireland, and forms part of the wider Sprucefield retail district at the junction of the M1 and A1 motorways, serving the Belfast and wider Northern Ireland catchment.
Our remit combined day-to-day asset management with the development of a longer-term repositioning strategy designed to protect income, enhance occupier appeal and unlock future value. Working closely with Marks & Spencer, we developed a comprehensive masterplan centred on rightsizing excess accommodation, improving tenant mix, strengthening the retail offer and creating opportunities for redevelopment and expansion.
Asset Management Initiatives
- Preparation of planning strategies, engagement with consultants and local stakeholders
- Relocation of Next Home from adjacent park to create a full line Next store.
- Negotiations with prospective occupiers.
- Renewal of existing leases with Boots & Pets at Home to improve WAULT.
What We Did
The project demonstrates Quadrant’s ability to combine asset management, development management and strategic masterplanning to reposition major retail assets while safeguarding institutional income and creating a platform for future growth. Management of a retailer owned asset required mediation between occupier and owner within an overall scheme strategy.
- Lisburn, Northern Ireland
- Location
- 165,000
- sq ft
- M&S
- Capital Partner
- Past
- Status
Meet the team who worked on the Sprucefield project.
John specialises in the retail sector. At Quadrant, his principal focus is to lead asset management, leasing and occupier relationships as well as retail and leisure investment underwriting, acquisitions and disposals. John was previously Head of Retail Warehouse Asset Management at British Land PLC and was responsible for managing the company’s large portfolio of retail parks and shopping parks.