XPROP launched to serve the UK’s out-of-town sector

The XPROP team

Real-estate advisory firm, XPROP, has been launched this week by the partners and associates of CWM Out-of-Town. The new venture, XPROP LLP (“XPROP”), is focussed exclusively on the out of town sector and is a natural continuation of the work undertaken by the team at CWM Out-of-Town.

The firm will offer objective and independent advice to owners and operators of out-of-town retail space as well as providing consultancy relating to emerging alternative uses such as logistics, leisure, roadside, self-storage, senior living and residential development.

As a separate entity, CWM Out-of-Town LLP has always been run independently of the CWM retail agency business and the ascension to XPROP marks a natural progression for the team as it seeks to assert independence for clients and provide a partner-led service dedicated exclusively to the out-of-town sector.

The team at XPROP is responsible for asset managing over 140 retail warehouse schemes on behalf of a range of institutional clients in addition to advising on the occupational needs of many established operators in the arena.

Investment Partner at XPROP, Mark Powell commented on the launch: “This is a challenging yet exciting time for out-of-town but we continue to strongly believe in the potential of this versatile asset class and have adapted to the changing needs of clients with a dynamic new multi-skilled consultancy.”

“Our CWM Out-of-Town heritage is something we are all extremely proud of but the time is right for a fresh approach as we’re increasingly required to extend our capabilities beyond pure retail uses and into applicable alternative uses for the evolving out-of-town sector.”

“Shirin Elghanayan, Senior Partner at CWM, added: “We are very sad to see the OOT team separate off after all these years but, as with most businesses, we are all evolving and adapting to a new era. We wish them all well in this new venture having shared many fun times together over the years.”

The team of ten Partners and Associates will provide expert, independent advice for out-of-town landlords and occupiers facing important decisions about their asset management, occupational leases and investments. The team brings an in-depth knowledge and experience across the out-of-town retail market – and is also expanding to increase capability in residential and logistics alongside the other complementary uses.

Agency Partner at XPROP, Mark Thompson said: “The out-of-town sector is experiencing its most rapid rate of change in history – and XPROP is strategically and uniquely positioned to reflect the new market conditions. In addition to providing multi-disciplinary services to both owners and occupiers, our collective experience extends to advising on alternative uses and repurposing options.”