Fleet Walk F&B – Torquay
The ESTAMA team undertook a reconfiguration exercise combined with strategic leasing to increase NOI and achieve a strong exit for the scheme. Central to this was the relocation of the F&B offering to the harbour-adjacent end of the scheme. The F&B clustering enabled ESTAMA to attract better brands including Starbucks and Greggs thus increasing the quality of offer to customers. The team also re-geared the lease for existing tenant JD Wetherspoons as part of the strategy.
Through the 1954 act, ESTAMA gained vacant possession of the Lower Winter Garden space, which originally housed smaller market tenants. This space was reconfigured to create a single unit, which was let to bar, restaurant and party venue Revolutions. Combined with JD Wetherspoons, this provided the wet-led trade as well as the main casual dining area of the town. The enhanced F&B offer also attracted several new national retail brands to the scheme including Deichmann and Yours.
The approach saw the successful disposal of the scheme to Torbay Council.
increase in contracted NOI
increase in WAULT
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