Are you are property company with a raft of secondary shopping centres sitting on your books? Have you been looking to make some easy money? Then WeBuyAnyShoppingCentre.com is what you’ve been looking for.
You can just imagine the TV adverts. We’ve cashed in our gold and our cars, so watch out for the next web-based group prepared to buy anything in the retail sector as the market finally begins to see the benefits of the economic recovery.
Colliers International’s James Findlater has got it right. He comments this morning that now may well be the time for the owners of secondary shopping centres to cash in their chips. And there’s plenty of buyers out there to snap them up.
Let’s face it NewRiverRetail may as well change its name to WeBuyAnyShoppingCentre.com. It’s bought so many in recent months and is leading the way in the UK seccondary market.
Often frowned upon with their dusty old centres, NewRiver may just be the clever ones. A £20m acquisition here. A £40m buy there. It may not grab the headlines but where there’s shoppers there’s cash. As retail rents begin to nudge up, now is the time for those banks and pension funds stuck with small town centre malls to sell and realise a return for their investors.
Groups like NewRiver are waiting in the wings to snap them up. They have the knowhow to realise more value from these little centres, and build some apparently dull, yet financially exciting portfolios.
Yeah, we all love a Bluewater acquisition, as they’re big and shiny, and fun to read about. But we shouldn’t disregard those town centre locations NewRiver has been so clever in acquiring.
Right, I’m off to register WeBuyAnyShoppingCentres.com before someone else does.