KLM Retail, a leading independent retail and leisure agency, has launched an Out of Town Retail and Leisure division, strengthening its retail offering.
The new team will be led by Will Andrews, Jonny Perkins and Mark Smith, three industry professionals with proven track records in the Out of Town Retail & Leisure sector. The team will enhance KLM Retail’s already strong offering and its ability to deliver transactions on assets such as retail parks, food stores and leisure venues across the UK.
Commenting on the launch, Mark Bennett, Partner at KLM Retail said: “This is an exciting time of growth for KLM Retail. Will, Mark and Jonny are industry experts and their addition significantly strengthens our offering by combining our existing expertise with their experience and contacts. Together we are now able to offer our clients a comprehensive 360-degree view of the retail sector unrivalled in the market.”
Will Andrews said, “We are delighted to be setting up our team with KLM Retail – it is a business we have long admired for its niche focus, strong personnel and dedication to client care. We are confident that our offering will provide our clients with the very best retail & leisure solutions in the marketplace.”
With over fifty years’ experience between them, the team worked together at JLL for over six years and before that at King Sturge. They have advised on the acquisition, disposal, forward funding and sale and leaseback of over £3 billion of assets over the last three years.
Will Andrews led the Out of Town Retail and Leisure Team at JLL for ten years. Before that Will was an equity partner at King Sturge.
Jonny Perkins has over 15 years’ experience as a specialist investment agent within the Out of Town Retail sector and led the retail warehouse investment team at JLL prior to joining KLM Retail.
Mark Smith previously headed up the Restaurant & Leisure Group at JLL. Focusing predominantly on investment, his work in the past three years has included over £400m of sale and leasebacks for occupier clients such as Odeon and Wyevale.
Key transactions that the team have advised on include:
• The purchase of London Olympia and its operational business in April 2017 for £295m, on behalf of a consortium of investors.
• The sale of the Brockton Capital Retail Park portfolio to Tristan Capital in March 2017 for over £249m.
• The sale of Purley Way Retail Park for IM Properties, the keenest yielding retail park of 2016 at £45m and a net initial yield of 4.59%.
• The Prumaker retail park and food store swap transaction between M&G Real Estate and BP Investment Management totalling over £200m.
• Sale in January 2017 of The Printworks leisure scheme in Manchester for over £109m for Land Securities.
• The acquisition of the Parc Trostre Shopping Park in Wales for £160m for M&G.
• The sale of The Cornerhouse in Nottingham for £65m for Land Securities in December 2016.
• The purchase and subsequent sale for over £67m of Templars Shopping Park in Oxford for KKR.
• The sale for Aviva of the Omni Centre in Edinburgh in December 2016 for over £74m.