This project was worked on by the following people, working in partnership from across our business…
- Adrian Peachey Partner, Development & Valuation Consultancy, Investment, Regeneration
- Dominic Ball Associate, Commercial Agency and Advisory
- John Prestwich Partner, Property Management
- Dan Peake Partner, Commercial Agency and Advisory
- Alan Harris Head of Town Centre Sector Partner, Development & Valuation Consultancy
We advised Herefordshire County Council on the purchase of a 150,000 sq ft shopping centre on a 4 acre site in the heart of the historic Hereford city centre from Apollo Real Estate for £4 million (£26 per sqft).
The property sits in a strategic location in the heart of the historic city centre comprising the largest and most critical site for Herefordshire’s re-positioning plans. The business plan for the shopping centre is to re-develop the majority of the scheme and create a mix of residential, health, educational, retail and food and beverage uses.
In particular it enables Herefordshire to deliver a clean Freehold site, removing the prohibitive leasehold interest and work with the new University of Hereford and Ludlow.
Maylords is a compromised physical and legal asset which is not additive to Herefords historic centre. These plans will attract renewed footfall, vibrancy and energy to the town and its community would benefit from a refocus of uses in addition to retail.