Appointed by LB Hounslow​

Newsteer are retained by the LB Hounslow to advise them on their long leasehold interest in the Treaty Centre shopping centres within Hounslow. The property is let to a theatre, Job Centre and a flexible workspace provider and the Council were approached by an investor seeking to bring about the comprehensive redevelopment of the centre through the acquisition of the Council’s interest.

• Newsteer advised the Council on the value of their interest including any marriage value for development and negotiating with the investor’s advisors to try and reach agreement whilst a planning application was progressed. Our advice involved detailed analysis of the local office, workspace and retail markets and understanding the attractiveness of the shopping centre.
• We also provided specialist commercial property advice and strategic advice as to how the investment assets might be improved and what alternative uses, and on what terms, might be pursued for the Council’s spaces to achieve the Council’s objectives.
• Current proposals seek to deliver a comprehensive regeneration in partnership delivering 1,200 homes, 40,000 sq.ft. employment space and 118,000 retail space.