MMX Retail were appointed by Hammerson on The Oracle in Reading in January 2022, as sole advisors on both the retail and F&B aspects of the centre. The Oracle already has a well-established tenant line up both inside the centre and out on the Riverside, which is the main restaurant and leisure offer in the town. MMX are currently tasked with negotiations not just on the retail and F&B units, but also on the large space/anchor stores, with the aim to improve tenant mix and rental tone.
The Oracle remains a live instruction but within the first six months of instruction five new retailers have been secured as under offer, and discussions are ongoing for larger space within the centre. There have also been a number of renewals that have been agreed. The client is looking at diversification of the asset to include residential, co-working space and further leisure.
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