Town centre retail demands have changed in recent years with drastic consequences.
High street landlords have experienced the demise of many retailers and department stores and have had to respond. When BHS went into administration in 2016 Coplan Estates was appointed by a retail investor Vabeld Ltd and worked alongside their agent Wrather Property to repurpose the unit. Although the building is owned freehold by Vabeld, it is an integral part of the St George’s Shopping Centre, owned by Gravesham Council, which brings along its own complexities when drawing in new tenants and carrying out the necessary construction works.
Working with Wrather Property the whole BHS unit has now been completely repurposed. Pure Gym now occupy 15,000 sq/ft arranged over ground and basement. The Department for Work and Pensions (DWP) occupy over 10,000 sq/ft on ground floor and the leisure operator Panic Rooms Escape fit into 13,500 sq/ft on ground and all the upper floors. The final 3,500 sq/ft ground floor main thoroughfare unit has been let to the ‘UK fastest growing restaurant chain” German Doner Kebab (GDK).
The repurposing involved many building technical complexities moving from one BHS occupier to four separate entities and now has a new lease of life.
This was a BHS income producing site that was in urgent need of a solution when it became vacant. Coplan managed the whole process.