Broad Street Mall
Broad Street Mall was acquired by Fund I in June 2001 and sold in March 2004.
At acquisition, Broad Street Mall was a well-located shopping centre within the main retailing pitch in Reading. However, the property was suffering from a bad image, tired fixtures and fittings, a poor tenant mix and increasing competition from a recently-completed higher quality shopping centre.
During our ownership, Doughty Hanson implemented operational improvements to branding, marketing and property management, and adjusted the tenant mix, resulting in a 50% increase in footfall and a 38% increase in net operating income.