Competitive socialising operator Bunkers has taken a 11,281 sq ft unit on a 15-year lease at The Brewery in Romford.
The letting takes the scheme close to 100% occupancy, with the final vacant unit currently under offer. The Brewery was acquired by Schroders Capital UK Real Estate Fund (SCREF) and Zurich Investment Foundation Immobilien Europa Direkt in 2022.
Rob Cosslett, fund manager at Schroders Capital, said: “Since the acquisition of The Brewery in 2022, our dedicated Schroders Capital retail team have used its expertise to add significant value to the site. We have done this through securing a series of high-profile lettings with several well-performing retail, leisure, and F&B operators, as well as enhancing the visitor experience for customers, through public realm improvements.
“Our team have also improved the sustainability credentials of The Brewery through ongoing social value initiatives, the installation of new solar panels across several roofs due to complete in early 2024, and completion of a programme to upgrade to LED lighting throughout the common parts of the scheme.
“The arrival of Bunkers is another significant milestone for The Brewery and will act as another key footfall driver for the site. The letting is testament to our team’s partnership approach with tenants that gives us a strategic insight into how best to mould our assets to provide occupiers with what they need to ensure strong trading performances. With affordable rents and near full occupancy, The Brewery is an example of how our retail warehouse assets continue to create long term sustainable income growth and strong returns for our investors.”
