Their need

LM has been a trusted adviser to Metrocentre for over 30 years. Central to our instruction and relationship is maximising rental income and lease longevity by developing and executing effective lease renewal, regear, and rent review strategies. Additionally, we work closely with our Agency Team to provide insights on target rents and lease structures for new lettings.

Our approach and thinking

Our long-standing relationship with the client and the destination, combined with our ability to access and analyse wider market trends and conditions, creates a strong platform of understanding and knowledge. Our approach is to continuously build upon and leverage this to optimise outcomes for both existing and future leases.

Joint results

Over the past 12 months, we have secured rental uplifts of up to 30% across various renewal, regear, and rent review transactions involving unit shops, MSUs, and F&B spaces. We have also played a key role in shaping the post-COVID market tone in the Prime Red Mall, elevating Zone A rents to £250. In addition, we have secured refit commitments from several retailers and F&B operators, encouraging reinvestment in their stores to enhance the overall offer.