Broadwalk Shopping Centre
MAXIMISING RETURNS FOR SOUTH BRISTOL’S LARGEST SHOPPING CENTRE
Moorfields implement strategy to transform shopping centre and create 420 new homes
Background:
Moorfields Advisory were appointed over this Broadwalk shopping centre in December 2016. The shopping centre comprises of 218,488sqft predominately retail and leisure space and was producing a gross income of c£1.3m and current market value of c£8.5m.
Action:
Moorfields initially implemented an asset management strategy whilst they reviewed options. In July 2018 Moorfields implemented a strategy which involved seeking planning permission to demolish the 1970’s multi-storey car park and part of the shopping centre which was deemed no longer fit for purpose to re-vamp the shopping centre, create 420 new apartments and car park for both residents and shoppers.
Result:
Moorfields achieved full planning permission to revamp, build 420 apartments, car parking facility and an additional 11,500 sqft of retail space.
Estimated value has now increased from £8.5m to £18.5m a £10m increase and also improved tenant ability on existing retail and commercial space.
