RMCB 049 – ASSET MANAGEMENT OF THE DARWIN SHOPPING CENTRE, SHREWSBURY

Description

The Council is seeking an experienced asset management agent with flair, resources, and an understanding of retailer’s requirements and issues who will be innovative in providing a realistic and achievable 5 year Business Plan to help grow The Darwin Shopping Centre to maintain and improve the shopping experience, attracting new retailers, shoppers and ultimately increase the income generated from this key asset. Lot 1: The Council is seeking an experienced asset management agent with flair, resources, and an understanding of retailer’s requirements and issues who will be innovative in providing a realistic and achievable 5 year Business Plan to help grow The Darwin Shopping Centre to maintain and improve the shopping experience, attracting new retailers, shoppers and ultimately increase the income generated from this key asset. Whilst the Council will retain the rent collection and service charge management of the centre, the successful agents will be responsible for the development and implementation of the Business Plan. This is to provide a clear strategy for the ongoing and future management of the Darwin and will seek to increase the value for money provided to the tenants, and in turn the contribution to the Shropshire economy by developing the range of retailers and goods available, which will attract more shoppers to the town. Marketing and lettings strategy will be key to this plan along with clear financial reporting. To deliver the right tenant mix and sustainable financial returns for the Council you will be required to provide advice on and undertake lease renewals, rent reviews and lease regearing and look for extra opportunities to increase revenue and lower costs across the centre. It is a requirement that at the end of each and every quarter during the full 3 year term of this agreement, and any agreed extension, that the appointed agent will provide a report on progress, risks, strengths, weaknesses and opportunities for the following 3, 6 and 12 month periods, including valuation updates. The appointment will be for 3 years, with an option to extend for a further two year period. Tenderers are required to identify all costs before submitting their tender, additional costs will not be accepted at a later date.