MMX's involvement in the Grosvenor Centre started in 2012 with an appointment to provide rent review and lease renewal advice. This was followed in 2014 by the involvement of the Agency and Asset Management team after the closure of House of Fraser - then the main anchor - which we soon replaced with more suitable anchors in the guise of Next and Primark.
During our involvement, The Grosvenor Centre has been realigned to be more relevant for its catchment in terms of new retailer openings such as Primark, Next, Superdry and River Island. Significantly, the Agency and Professional teams have also worked hand-in-hand to ensure synergy with regard to any new lettings and the value implications these could have on any upcoming rent reviews and lease renewals. The introduction of both the Leather Museum in 2016 (part of Northampton’s shoe making heritage) and Screen Northants was an early step towards repurposing and helped to diversify the visitor make-up away from purely shoppers. However, what has been more defining for the Grosvenor Centre, is our involvement with the likes of ‘Grosvenor Gatherings’ - an initiative to re-establish local connections, be they business, operators or consumers to ensure the centre remains super-relevant for its catchment. During the recent past, helped by the proactive attitude of Northampton Council in driving the regeneration of the town - including plans for the £8m transformation of the UK’s largest and oldest Market Square - we have attracted offers from two co-working operators for 50,000 sq ft of offices and three competitive socialising venues for 30,000 sq ft of space.
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