‘Time for change’
I-AM were appointed as asset managers on behalf of CBRE Global Investors in January 2013 and under the stewardship of asset manager, Bev Parker, are responsible for the delivery of the asset management business plan for the scheme.
During this time the centre’s occupancy levels have been maintained by implementing an active leasing strategy programme. Commercialisation has been brought ‘in house’, which resulted in an uplift in income of 46%. New initiatives include utilising the underused car park at certain times of the week for a range of activities including Young Drivers and a regular car boot sale.
I-AM’s remit was extended in 2014 to include development advice to CBREGI in respect of the opportunity to extend the centre in accordance with the Local Authority’s Core Strategy document.
Proposals to develop the adjoining site and in turn seek to protect the centre and wider town centre from the out of town threat are being led by I-AM, as development manager. A planning application for a major extension was submitted in October 2013 and permission granted in January 2014. Although these plans now need to be adjusted to reflect the ongoing impact of the Council’s willingness to grant out of town consents, it is hoped that works will start on site in 2015.
I-AM has overseen a refurbishment programme of the multi-storey car park, and will similarly oversee the ongoing refurbishment programme to improve the centre as the extension works are carried out.
For more details on our development plans and programme please call Bev Parker on +44 (0)20 7493 8828 or click here (PDF) to download the ClockTowers brochure.