Shaftesbury Plc Commercial Real Estate Case Study - Cushman & Wakefield

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Carnaby Estate

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The Challenge

Since the successful acquisition of the Carnaby Estate by Shaftesbury PLC, Cushman & Wakefield has been an integral part of the transformation from the original mix of poor fashion and cheap souvenir shops to what Carnaby is today: an internationally renowned destination for leading lifestyle and fashion brands.

The Solution

A total of 95% of the retail tenants have been changed on the Estate and since implementing a careful tenant mix policy, rental growth of 10% per annum has been achieved since 2003. Cushman & Wakefield has advised on all aspects of the Estate including retail strategy, development opportunities, streetscape, signage policy, events, PR/ marketing material and management liaison.

The Results

As of June 2012, Cushman & Wakefield has been responsible for nearly 220 retail transactions concluding lettings to retailers for their UK flagship stores including Cheap Monday, Monki, Replay, Puma, Diesel Male and Diesel Female, the majority of which were their first in the UK.

“Cushman & Wakefield has acted for us on Carnaby since 1997, their understanding of our aspirations for the area has helped us to transform the Carnaby village into what it is today.”  Simon Quayle, Director

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