MOORFIELDS APPOINTED RECEIVERS OVER THE VICTORIA SHOPPING CENTRE, SOUTHEND

Moorfields Advisory have been appointed Receivers over the Victoria Plaza Shopping Centre in Southend-on-Sea.

The shopping centre comprises of 274,061 sq.ft. of Retail units and is prominently located at the North end of the High Street, next to Southend’s main train station.

The centre is let to a range of National tenants including Wilko, Boots, Metro Bank, New look and Next.

The Council are undertaking an extensive re-generation of the area, (known as The Queensway Estate). The scheme, which is part of the Council’s, “2050 vision” is due to commence construction in 2021 with the first homes to be completed in 2023. The re-generation presents huge opportunity for the Shopping Centre with a projected increase in footfall and the associated demand for retail and leisure offerings in the heart of the City Centre.

Arron Kendall, Receiver

“We fully appreciate the impact that the Covid-19 pandemic has had on retailers and landlords and welcome the Government’s announcement that non-essential shops can re-open from 15 June. The Victoria Shopping Centre is a key part of Southend’s High Street offering and we look forward to managing the site and a return to the “new normal”.

We have established a strong reputation within the Retail sector having been appointed over eight shopping centres in recent years”

ENDS

For media enquiries, please contact:

Katie Smith

Tel: +44 (0)20 7186 1144

Email: ksmith@moorfieldscr.com

About Moorfields

Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.

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