Project details Owner Asset Manager
Acquisition Retail & Leisure
Square meter 80,000
Key occupants C&A, Esprit, Deichmann, Intersport, Bijou Brigitte, Hollister, New Yorker, Primark
Portus

The Project

At the time of purchase, Waterfront was a “tainted” centre with over 35% vacancy, buying a 50% interest in a JV as the “operating partner”. A business plan was created to establish Waterfront as a known shopping centre brand and destination for retail and leisure to increase revenue, visitor numbers and NOI and delivering capital growth upon selling.

Portus
Portus

The results

After establishing a new operations and marketing team to implement the business plan vision; centre vacancy was reduced to less than 5% and net income grown by 100%. Sold to ECE in 2015 realising a 1.8x equity multiple.

5%

vacancy

6Mn+

visitors

Interested in working with us?

Portus Retail is the partner of choice for owners and investors seeking a fresh perspective on their property challenge.