SSCP provides high level strategic and commercial advice to owners and managers of shopping centres who can make use of our team's unique experience and knowledge.
The advice may include assistance in reviewing and auditing, among other things, business plans, marketing plans, management organization and/or the commercial environment.
44,000 square metre regionally dominant shopping centre
In December 2017 BlackRock Europe Property Fund IV, managed by BlackRock Real Assets, announced its acquistion of the 44,000 square metre regionally dominating shopping centre Næstved Storcenter located 1½ hours drive south of Copenhagen in Denmark.
The investment was initiated by SSCP acting as the initial bidder in a structured sales process. Concurrent with the negotiations with the seller, SSCP identified BlackRock as the right profile investor, prepared a business plan, including a description of the centre’s development potential, and secured BlackRock’s interest in the centre. SSCP also advised BlackRock on overall commercial strategy and leasing strategy. Blackrock will handle asset management.
The purchase price was close to DKK 1 billion and the business plan reflects a value-add perspective with superior returns.
The business plan developed by SSCP include:
• Implementation of an allocation strategy enhancing improved customer flow
• Optimising and strengthening the non-hypermarket part of the centre by changing the tenant mix
• Branding the centre as a regional “one-stop-shopping”-concept
• Identified potential for rent increases
• Introducing a new active organisational setup for the operation of the shopping centre
• Large upside through an extension of the centre that will significantly strengthen the centre’s profile
and position by bringing in large and strong retail concepts