Services

Investment

We are a market leader in the UK out of town retail investment market having advised on over £4.5bn of transactions in the last 10 years.

Our client base extends across a broad range of UK based Institutions, REITs, High Net Worths, Property Companies and Developers as well as Non-UK based equity. Specialising in the acquisition, sale and development funding of food and non food out of town retail assets, we work closely with our agency and professional teams, to deliver consistent, informed, commercial, dynamic and value add advice.

Ranging from solus DIY, discount and foodstore assets, to multi let retail park portfolios, the team brings a wealth of sector knowledge and experience, together with deep market relationships to ensure smooth transaction management and best results.

Investment

Retail Park & Leisure Asset Management

We have a dedicated team of chartered surveyors who act for both landlords and occupiers across the UK.

Landlord Activity

We establish and implement strategies that improve asset performance through rental growth or yield compression. Our close relationships with retailers allows us to provide Landlords with a clear, concise and informed asset management platform for a variety of assets from regional shopping parks to smaller convenience led retail parks and first generation solus DIY.

We advise on over 150 assets (circa 15 million square feet) for a variety of Landlords including UK Institutions, US and European Private Equity, REITS, private landlords, family estates and Local Authorities.

Occupier Activity

Both on a retained and non-retained basis, we provide strategic portfolio advice together with a plan of implementation for acquisitions and disposals.

We are currently retained by Wilkos, Homebase, Tapi Carpets, Nando’s, Starbucks, Specsavers and Domino’s. We also advise a number of occupiers on a non-retained basis including Waitrose, The Gym and Pure Gym.

Retail Park & Leisure Asset Management

Development

Our extensive expertise in identifying development sites for mixed use retail park development is unparalleled. We have advised on over 5 million sq (464,515 sq m) of retail warehouse development over the last 20 years across all sub-sectors: open A1 shopping parks, bulky goods parks, foodstores and edge of centre schemes, including Fosse Park, Leicester; Castlepoint, Bournemouth; Brent Cross Shopping Park, London; Fort Kinnaird, Edinburgh, and currently The Springs, Leeds, comprising 350,000 sq ft of retail and leisure.

We provide landowners, developers and investors with a full range of development services including site identification and acquisition, whilst also providing design and development consultancy from conception through to completion of the development.

Developer clients include:

  • Scarborough Developments
  • L&G
  • City Court Developments
  • Severn Capital
  • Bride Hall
  • Galliard Homes
  • Pears Group
  • Cedar Investments
  • Cranford
Development

Lease Advisory & Valuation

We are retained on behalf of a wide range of institutional funds, property companies, occupiers and private individuals on both ‘out of town’ and large ‘in town’ retail space, providing specialist advice on the following:

  • Lease Renewals – including Court determinations, ‘Section 34’ valuations and alternative dispute resolution through ‘PACT’
  • Rent Reviews
  • Dispute resolution – preparation of Expert Witness Reports for Arbitrations and Independent Expert Determinations
  • Lease restructuring – re-gears, surrenders and break clause negotiations
  • Rental valuation advice and budgeting
  • RICS accredited Arbitrator and Independent Expert available for private appointments or via the DRS (Dispute Resolution Service) of the RICS
  • Full range of valuation services including development appraisals and other ‘Red Book’ valuations

The Harvey Spack Field lease advisory team includes two fully qualified Partner level surveyors with a combined market exposure of over 50 years offering high quality technical advice along with specialist knowledge and direct involvement in the out of town retail sector.

Lease Advisory & Valuation

Corporate

Our vast experience of working with retailers allows us to provide strategic portfolio advice in consideration of corporate purchases.

As a consequence of the rapidly changing retail environment, retailers are consistently changing their formats and spatial requirements and portfolio reviews have become essential to retailers seeking to thrive in a competitive market. We undertake such work for all our retained clients, providing up-to-date market analysis and recommendations for existing properties in respect of surrenders, re-gears and new and competing opportunities.

We have provided advice to a number of Private Equity Houses and Hedge Funds including Bridgepoint, Op Capita, Cerberus, Hilco and Harris Partnership relating to a variety of corporate purchases including Hobbycraft, Game and more recently Homebase.

We have worked closely with administrators and LPA receivers in respect of portfolio analysis and restructuring. Recent instructions include working on behalf of Deloitte and Ernst & Young.