New Frontier was established with the aim of acquiring and developing retail property assets in the UK. It has so far acquired shopping centres in Burton upon Trent, Middlesbrough and Blackpool, with Waypoint advising on and structuring the corporate acquisitions.
In 2016, New Frontier extended its strategy to include retail and logistics property across Europe with a focus on locally dominant, income-producing schemes. It aims to grow its portfolio to £1bn within the next three to five years.
shoppers visit the Blackpool, Burton and Middlesbrough centres every year
Coopers Square is a modern, fully covered shopping centre in the Staffordshire town of Burton upon Trent. Totalling 396,000 sq ft, it has more than 70 shops, cafés and restaurants and is anchored by Marks & Spencer, Primark, Next and New Look. Some 84% of the income is secured against national retailers.
The Cleveland Centre is situated in Middlesbrough, the most dominant retail location in Teesside. It has four anchors - Boots, Topshop, New Look and H&M - and an additional 55 units on the ground floor. Totalling 393,000 sq ft, the centre also has a 550-space car park on the roof, and a new 140-bed Holiday Inn Express recently opened adjacent to the property.
Houndshill is the only fully covered shopping centre in Blackpool, a popular seaside town in Lancashire that attracts some 13 million visitors a year. Located in the shadow of the Blackpool Tower, the 302,000 sq ft centre underwent a £40m extension and refurbishment in 2008. It has 65 retail units and 750 parking spaces, with Debenhams the main anchor and other major retailers including New Look, River Island, Next and H&M.
Mike is joint MD of Waypoint. He was managing director of Chesterton International’s property finance arm, De Groot Collis Financial Services, before joining HBV Real Estate Capital. He became joint managing director in 1999, with a loan book under management of over £8 billion. In 2001, he moved to Quintain Estates and Development, holding the role of chief executive from March 2002. Later that year, he moved to Castlemore Securities, where he was a director until 2005, when he became joint CEO of Local Shopping REIT.