Lionsgate, Corporate Acquisition
- The group owned a portfolio of around 400 mixed commercial property assets including 3 shopping centres.
- Sovereign Land spent the next three years restructuring the portfolio, actively managing each of the properties and investing new capital in improvements, leading to enhanced sale values.
Business Plan & Achievements
The portfolio included: The Chilterns in High Wycombe - an 82,000 sq ft shopping centre anchored by Marks & Spencer, Next, Country Casuals and Wilkinsons. It also included17,000 sq ft of offices let to an Abbey National subsidiary. The scheme was sold in 2001 to Chester Properties for £13m.
Rood Lane, London EC3 - an office scheme that included part of Dresdner Kleinwort Benson's headquarters. Sovereign Land sold the building to Land Securities in 2001.
Boscombe Cliffs - a residential scheme near Bournemouth. Sovereign Land set up a JV with Bellway Homes and obtained planning permission for 84 flats. The site was sold to a national house builder in 2000.