Green & Partners, the team who advised Redevco on the purchase of White Lion Walk in Guildford in 2020, has announced that an £8 million refurbishment of the scheme is underway.
White Lion Walk is a prime location which provides a vital pedestrian connection between the High Street and The Friary Centre and shops on North Street.
Together with Green & Partners, Redevco has developed strategy for asset management to allow the scheme to be refurbished and deliver alternative uses.
Work started on site in January 2022. The retail element will be refurbished by upgrading entrances and removing the central atrium lift and escalators to create clear sight lines
During the planning process and despite the impact of the pandemic, Green & Partners successfully renegotiated 14 leases allowing the scheme to move ahead.
Redevco has acquired the former Next store and develop plans for the space to be reconfigured to provide a High Street Fronting opportunity, and a repurposed first floor to provide 16,000 sq ft of offices accessed from directly from North Street.
Adam Bindman, partner at Green & Partners said “We’re delighted to work alongside Redevco, not only with our Investment Team having acquired the asset, but also in preparing the asset for the upcoming repurposing and refurbishment.
“The scheme will offer a mixed-use development in the heart of Guildford connecting the High Street and North Street, and this will be achieved through a proactive Landlord working with an existing asset to enable repositioning.”
Andrew Foulds of Redevco said “Green & Partners have delivered a number of transactions during a difficult period which have enabled us to focus on the delivery of this project. We all look forward to the future of White Lion Walk and restoring the holding to its rightful place in Guildford while offering a complementary offer to neighbouring locations.”