Cranbrook Urban Expansion

Forming part of the Cranbrook urban expansion, the scheme is part of a brand new community in Devon. The property will comprise seven retail units, anchored by a large Morrisons Supermarket. The centre is supported by a range of facilities including a primary and secondary schooling, doctors surgery and library, and Younghayes Community Club. The combination provides a high quality community hub for Cranbrook and a healthy property investment for our clients.

The scheme has been acquired by a partnership of asset management clients on a forward funding agreement. Day and Bell will manage the centre, including the commercial service charge and rent administration, with continuing lease advisory and asset management advice.

The purchase was an off-market acquisition from leading neighbourhood retail developers. As experts n this field, Day and Bell has a strong track record of co-ordinating between the stake holders to deliver investment and asset management opportunities.

The Cranbrook development is expected to complete in March 2024. There are further similar Neighbourhood Centres that are in the pipeline in near future.