The Vancouver Quarter

Over 300,000ft2 of mixed use retail and leisure
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Project Details

Client: Private

Date: November, 2003

Status: SOLD

Peterloo Estates acquired King's Lynn's Vancouver Centre from London based investment fund Threadneedle; going on to secure an enhanced planning consent which increased the retail offering to circa 300,000ft2.
Rebranded as the Vancouver Quarter, the development includes a £6m award winning multi-storey carpark. Peterloo Estates sold the project to Yorkshire based Caddick Construction who went on to complete the development.

1. Background

Situated on the Norfolk coast, redevelopment proposals for the Vancouver Quarter struggled to attract a significant anchor tenant on the analysis that a large proportion of any radial catchment area was in the sea.

2. Approach

Peterloo Estates development solution was to step away from the anchor tenant approach, opting for an increased number of smaller unit sizes attracting retailers such as New Look, T.K.Maxx and Argos.

3. Result

Peterloo's initial appraisals for the development were based on a capital value expectation of £76m on completion. It was later sold in 2006 to a private purchaser for £90m, representing a 4.7% yield.
Mixed use space
Food & Drink Outlets
Award Winning Car Park

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