Stannifer - Leisure Development - Romford, The Brewery
Date: 10 Jul 2001
The Brewery, Romfords trend-setting 46,450 sq m (500,000 sq ft) leisure and retail centre, has won a coveted award at the 2001 Retail Property Awards, beating off stiff competition from high profile developments at Fort Kinnaird near Edinburgh and New Mersey Retail Park in Liverpool.
The Brewery, which was named a winner at a special property industry ceremony held at the Grosvenor House Hotel in London, challenged the Awards organisers. Fully integrated into Romford town centre, Stannifer and J Sainsbury Developments joint venture did not fit comfortably into either "Out of Town" or "High Street" which were the only two categories open to developments. However, the judges felt that the stunning design could not be overlooked and that the schemes "out of town" style and layout made "Out of Town Retail Development of the Year" the most applicable award.
The prize reflects widespread praise for the scheme. Nick Raynsford MP, Minister for Local Government recently described the development as: "absolutely one of the best schemes I have seen for a long time and entirely in line with the governments policies of urban renaissance and reviving our town centres".
Alan Peach, Stannifer development director, said:
"We are delighted to have won this prestigious award. Its recognition of the many unique elements that have gone into creating what is an outstanding retail and leisure scheme."
Barry Henderson of J Sainsbury Developments commented:
"The award is great news. It is an outstanding endorsement for this unique and much-admired centre."
The Brewery development is now 90% let. Only 4,645 sq m (50,000 sq ft) remains available, most of which is under offer. Recent arrivals include TK Maxx, Dixons, Frankie & Bennys, Nandos, Harry Ramsden and Outback Steakhouse. Institutional lease lengths were agreed on all deals, at rents that reflect the prime location of the scheme. Negotiations are also close to completion with a bowling operator for a 26-lane bowling facility.
The first phase of the Brewery opened in April 2001, while the second and final phase is due for completion by the end of August 2001.
The Brewery has a catchment of 1 million people within a 20-minute drivetime and is easy accessible by both public and private transport. A new bus interchange incorporated into the scheme, which is also adjacent to Romford railway station, is complemented by over 1,700 secure, car parking spaces which connect directly into the retail malls.
Tenants already announced include Sainsburys, Boots, GAP, Thomas Cook, Brantano, JJB Sports, Pizza Express, Starbucks, Powerhouse and McDonalds. The 19,509 sq m (210,000 sq ft) leisure element includes a 16-screen Ster Century cinema and 4,181 sq m (45,000 sq ft) Esporta health and fitness club.
The Brewery is being developed by Romford Developments Limited, a 50/50 joint venture between J Sainsbury Developments Ltd and Stannifer. The scheme has been pre-sold to The Equitable Life Assurance Society Limited at a blended yield of sub 6.5%. The letting agents are Insignia Richard Ellis, Michael Varley Limited and Grant & Partners.
Architect of the Year, Chetwood Associates, is the scheme architect.
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