REDEVCO United Kingdom is based in London’s West End. The Managing Director is Simon Smith. A team of 13 real estate professionals co-ordinates the UK activities of the company. These activities focus on three key areas: Investment, Development and Management.
Strategy
Following the closure of C&A in the UK and the re-letting of over 450,000 sq m of retail space in 2000/2001, the portfolio has been substantially restructured. Over €1 billion of property has been bought and sold and around 50,000 sq m of retail and office buildings have been redeveloped or refurbished. The focus thus far has been on high street shops and offices in Central London and the ‘Big 6‘ and out-performance has been delivered through intensive asset and lease management, profit on sales and development.
Track record
With a strong track record of excellent stock selection, Redevco UK has demonstrated an ability to identify opportunities where value and performance are created by skilful asset management rather than relying on the market. This entrepreneurial approach, and a commitment to take the long term view, means Redevco is well placed to capitalise on the challenging times ahead.
Future developments
In the short to medium term Redevco UK will continue to grow the portfolio, with a focus on identifying investment opportunities in the retail and office sectors - in particular this will include sourcing retail and mixed-use properties on the high streets of the UK’s major towns and cities, together with offices in the six major cities. In both cases Redevco will seek deals that offer genuine potential to add value, either through lease engineering or refurbishment/redevelopment. Entrepreneurial purchases in the other retail sub-sectors will be considered, e.g. shopping centre and retail warehouse acquisitions. Additionally, project development will continue to be an important part of Redevco UK’s strategy, building on the success of the numerous retail-led mixed use schemes completed to date.
Our retail portfolio accounts for 80% of our assets and offices for the remaining 20%.