Merrick Engaged in East London Mixed Use Market
Merrick Real Estate has been engaged by shareholders of a major mixed use portfolio in East London to evaluate and deliver its full financial potential.
The portfolio totals some 100,000 sf of space consisting of rented residential units, office accommodation and street-level retail and restaurants. It is centered around Shoreditch which is one of London’s most vibrant and fashionable locations, which is populated primarily by professionals primarily working in the TMT sector, and the financial services industry given its proximity to the City. Investment in London’s technology sector was $2.28 billion in 2015 – over 200 firms are located here including the Google Campus in Bonhill Street, and Amazon’s new HQ in Principal Place which will house 5000 staff.
Merrick is mapping out and analysing each component of the portfolio to identify and achieve its full value which including asset management initiatives to drive residential rental growth, creation of new commercial and residential space, re-structuring of retail leases and income, and optimisation of the financing and ownership structure.
Mark Norris, Managing Director of Merrick said “ We are delighted to be engaged on this major initiative across each of its dimensions, in such a fantastic part of London with strong demand in every real estate sub-sector. We look forward to achieving the best result for shareholders”.