Templars Retail Park
Background
First acquired in 2013 with KKR along with two other assets, as part of the Tuscany Portfolio.
Sold fully let with an average weighted lease term of 10.9 years to Pramerica in January 2016.
Subsequently acquired on behalf of CBRE GI in July 2023.
Asset Management Initiatives
Oversaw the redevelopment of the former B&Q unit into a multi-unit retail and leisure scheme, securing lettings to Sainsbury’s, Poundland, Pets at Home, DW Sports, Costa and Pure Gym at rents of up to £32.50 psf, broadening the occupier mix and enhancing footfall.
Maximised value through the sale of a consented residential development site and subsequent asset management initiatives. These included a restructured 10-year Pets at Home lease and new leasing transactions that increased rental tone by circa 50%, with a higher-rent Superdrug letting agreed subject to vacant possession.
What We Did
Refurbishment of a first-generation park to create a prime destination. Followed by active asset management to reconfigure the tenant line up and increase the rental tone.
- Oxford
- Location
- Asset Management
- Deal Type
- 138,500
- sq ft
- KKR & CBRE IM
- Capital Partner
- Current
- Status
Meet the team who worked on the Templars Shopping Park project
Richard is a highly experienced retail specialist with a primary focus on retail parks, leisure assets, and the development of leasing and occupier relationships. With over 10 years of experience at Ellandi, Richard initially served as Head of Occupier Relations before advancing to a Director position. Prior to Ellandi, he spent four years at Landsec, gaining extensive expertise across various regions and legal jurisdictions within the UK and Republic of Ireland.
Throughout his career, Richard has successfully managed up to 2 million square feet of retail space, developing strong relationships with UK occupiers and negotiating portfolio-wide deals. He has also worked closely with investment teams to identify and source new opportunities, contributing to the sale of approximately £700 million of assets in his final 15 months at Landsec. Richard’s deep understanding of the retail sector and his ability to drive strategic growth make him a key asset in managing and expanding retail and leisure properties.