New instructions for specialist asset manager
Retail property asset manager Realm has secure two new high profile instructions from existing clients TH Real Estate and Quintain.
TH Real Estate has instructed Realm to provide combined asset and property management services on Milsom Place in Bath city centre. Following recent lettings to The Botanist and Spin Village, Realm has been brought in to initiate and deliver a new vision to reposition the scheme as Bath’s premiere dining and lifestyle destination.
At Wembley Park, Quintain’s massive 85-acre residential-led regeneration, Realm is already the asset and property manager on London Designer Outlet, London’s leading outlet scheme. Across the Wembley Park estate, Quintain is developing a further 40 retail and F&B units and Realm’s management remit has been extended to cover this as they are built and let over the course of the next 18 months. This will bring Realm’s Wembley management portfolio to 400,000 sq ft.
These two new instructions will be added to Realm’s existing £500m portfolio of seven centres, covering 2 million sq ft with 500 tenancies and with gross billings of £60m.
Realm’s managing director, Colin Brooks said: “Both TH Real Estate and Quintain recognised the need to bring in a holistic asset manager to commercially drive sustained footfall and occupier sales. It’s no secret that the retail market is changing and, as an industry, we need to be more flexible with the way we work – we cannot just rely on the way it’s always been done anymore. We believe the lessons we have learnt from our other centres can easily be applied to these two projects, and we are delighted to have extended our existing client relationships with these two major real estate players.”
