Acquired: 1998
Status: Realised
The Hildreds Shopping Centre, Skegness was the principal shopping centre of Skegness. Constructed in 1988, it comprised a supermarket and 25 retail units with a 350 space car park. The scheme was acquired in 1998. The centre's rental levels were low and significant scope existed for improving income through rent reviews, surrender and new lettings to retailers. Following successful implementation of a rent review programme the centre was sold to an institutional investor in 1999, generating a return on capital of 107% over a nineteen month investment period.
