KOMM is a 16,000 sqm shopping centre, main tenants include Gerry Webber, H&M, Muller, Bijou Brigitte, Deichmann.
Portus Retail were appointed by the owner of KOMM, AIMCo, to establish a new management team and create a business plan to stabilise and reposition the asset.
The owner wanted their existing debt to be restructured and historic disputes settled. As Asset Manager we oversaw our business plan and, working with the lenders, established a plan to sell the asset based upon a forward-looking business strategy.
A business plan to reposition the asset around convenience and young fashion was established and the centre refurbishment completed. The previous management team were replaced and working with Apleona as a local Property Manager and Prime as leasing agent, leases were regeared and tenants replaced including H&M, new yorker, tally weill, only and thalia. Oversaw the settling of historic disputes and arrears, restructured the debt with lenders and agreed a sale of the centre which successfully completed in July 2020 during the Covid-19 pandemic.
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