Pradera Lateral appointed as asset manager at four former Intu malls
SGS has appointed Pradera Lateral as asset manager at four former Intu malls, replacing Global Mutual.
The group will take over asset management duties at Lakeside Shopping Centre in Essex, Atria Watford, Victoria Centre in Nottingham, and Braehead Shopping Centre near Glasgow.
Lakeside Shopping Centre is a leading regional scheme, spanning 1.6 million sq ft and comprising over 250 shops and restaurants with an extensive leisure offering. Key tenants include M&S, NEXT, Zara, H&M, Primark and Apple.
The 1.4 million sq ft Atria Watford is located at the heart of the town centre, and comprises retail, café, bar and restaurant units, and a nine screen Cineworld. Key retailers at the scheme include M&S, Zara, H&M, Apple, Next, Primark.
Opening in 1972, the Victoria Centre in Nottingham was opened following the regeneration of a redundant railway station. The asset extends to over 950,000 sq ft and comprises of 120 stores, including anchor tenants John Lewis and House of Fraser. Other key tenants include Next, WHSmith, EE, Republic, Boots and Office. The mixed-use scheme also incorporates 464 flats as well as 36,000 sq ft of offices.
Braehead spans 1.1 million sq ft of retail, leisure and food and beverage space, with 7,900 free car spaces and nearby public transport connections. The scheme offers 120 international and UK brands over two levels, and sees an annual footfall of approximately 16.5 million.
SGS said the decision to appoint Pradera Lateral will help position the company for a new phase of growth. The group has recently hired Philip Wardle, who joins from British Land’s mall leasing team to work closely with Pradera and its new chief executive Claire Barber.
Barry Cox, managing director of Pradera, said: “We would like to thank SGS for the trust they have placed in us, and we look forward to taking this portfolio of prime shopping centres into the next phase of growth. Rob Jewell, MD Asset Management at Pradera Lateral and SGS have ambitious plans for these centres and we look forward to working alongside the newly appointed SGS CEO Claire Barber and her colleagues to deliver this growth.”