Workington, Washington Square

As new asset managers, Sovereign Centros are initially focusing on stabilisation of occupancy whilst considering ways to increase footfall and revenues by diversification into mixed use and commercial space.
  • 250,000 sq ft town centre shopping centre providing 62 retail units and a 427-space car park
  • Anchor tenants include Next and Home Bargains
  • Annual footfall of 4 million

Business Plan & Achievements

Recently appointed to replace previous asset manager with simultaneous transfer to preferred property management team.

Initial asset management focus on income and occupancy stabilisation.

Emphasis on improved retailer and customer engagement through enhanced dialogue, marketing and website overhaul.

Repurposing solutions being examined for former Debenhams department store.

Collaborative relationship established with Allerdale Borough Council who are a key stakeholder as freeholder, car park long leaseholder and being responsible for adopted mall areas.

Aesthetic improvements being worked up to enhance the shopping environment.

Focus on diversification of use, reducing exposure to retail through the incorporation of leisure, office and residential.