Clayton Square, Liverpool

Clayton Square

Hark sourced the opportunity off market from Land Securities, and acquired Clayton Square on behalf of IRCP, where Hark acted as Asset Managers.

Clayton Square was a "failed" 2 level 170,000 sq ft shopping centre; with 22% void and immanent lease expiries on the majority of income. Hark transformed the asset by removing a mall; creating 3 "high street" frontages; a new flagship for Boots; Easy Gym and Wildwood, as well as halving the service charge and reducing the common parts to only 4% of the total area.

The asset was sold to funds managed by Rockspring in under 3 years from purchase. No debt was used, and total capex was less than £4m net. The scheme won BSCS Gold Award in 2015