Smith Price have been appointed as letting agents for three shopping centres, comprising some 500,000 sq ft of retail space in total. Two of the schemes, owned by Protego Real Estate, are located in Ipswich and Kettering whilst the third, situated in Frome, is owned by Maybrook Properties. In addition to agency matters, the firm will act on behalf of both landlords in professional matters including rent reviews and lease renewals.

 

The Buttermarket Shopping Centre, which opened in 1992, is one of the main schemes in Ipswich (pictured) and comprises some 235,000 sq ft of retail space and 31 retail units. The Newlands Shopping Centre in Kettering, which was developed in the mid 1970s, comprises some 200,000 sq ft of accommodation and 53 retail units. Both schemes are anchored by TJ Hughes and TK Maxx and form an integral part of each respective town centre’s retail offer.

 

The Westway Shopping Centre in Frome, belonging to Maybrook Properties, comprises some 70,000 sq ft of retail space and is anchored by Somerfield and Argos. It is the prime shopping destination within the town.

 

John Mortimer, Head of Agency at Smith Price, said: “As a niche retail practice, we recognise that the shopping centres sector is becoming increasingly difficult. Landlords now face greater exposure to voids and empty rate liabilities as retailers continue to endure tough trading conditions. We are therefore pleased to lend our expertise, knowledge of the market and ‘hands-on’ and proactive approach to assist Protego and Maybrook in maintaining the performance of their respective assets while at the same time minimising potential costs.”

For further information on Kettering and Ipswich please contact:

 

John Mortimer