7:30 a.m. April 12, 2022
With a history of acquiring and managing retail and leisure venues, Schroders Capital is bullish on its new purchase of Romford, The Brewery.
It was recently announced that Schroders Capital UK Real Estate Fund and Zurich Investment Foundation Immobilien Europa Direkt, which is managed by Schroders Capital, have joined forces to buy the Waterloo Road site for £162 million.
Now Tom Woolven, investment manager for Schroders Capital UK Real Estate Fund, has spoken about what the company hopes to achieve with The Brewery.
The initial interest, he says, was because the site continued to attract a high volume of customers despite the impacts of Covid, thanks to its range of retailers, leisure venues and restaurants.
This has made it an attractive prospect for the Schroders team, who Mr Woolven says will be able to “combine strong existing relationships with occupiers across the sector with a collaborative and focus-oriented mindset.” the operations”.
An example of this, he said, includes a new Schroders center being developed in Bracknell in partnership with Legal & General.
Working with the local council and the community, he said the development had created around 3,500 new jobs in the town.
Asked specifically about concerns relating to the conversion of the site into apartments and other homes, Mr Woolven said: ‘Our business plan is to run and improve the brewery in its existing form and we will work closely with the local government planning teams to help improve the site and this area of Romford.
In the short term, he said the plan is to ensure The Brewery “remains an attractive destination for renters and buyers”.
Changes already planned include installing better signage, improving roofs, adding more electric vehicle charging stations and solar panels, and introducing better contactless parking payments.
The Brewery’s location in the strategic development area of Romford means it will be seen as an area “to cater for increasing population”, Mr Woolven said, particularly with the arrival of Crossrail.
However, he adds that the strengths of the system in its current use will be taken into account in any future development.
“Any redevelopment of the site would be done in phases, to ensure much-needed residential space is added, which would also allow us to retain the mix of retail and leisure occupants that make The Brewery such an attractive destination. .”