Increasing Net Operating Income via Property ManagementLeigh Burnett
Eddisons were appointed by Waypoint who are Asset Managers based in London managing Houndshill Shopping Centre Blackpool on behalf of their South African client New Frontier Properties who are listed on the South African and Mauritian stock exchange.
The Houndshill Shopping centre in Blackpool is 302,377 sq ft and benefits from an annual footfall of 10 million. The shopping centre is a covered centre with anchor tenants such as Debenhams, Superdrug, Disney and Costa. However, there are external units within the ownership on Victoria Street which have proved challenging to let.
Property Management Services. Eddisons have been involved with promoting these external units to local retailers and uses on short term Licences.
This has provided an interesting retail mix and has been instrumental in a successful void rates mitigation scheme which has had a positive effect on the Net Operating Income for the Centre.