New real estate advisory company to focus on out of town market
A new real-estate advisory firm, XPROP, with offices in Leeds and London has been launched this week.
It has been established by the partners and associates of CWM Out-of-Town and will focus exclusively on the out of town sector. Its Leeds office is at Fountain House, South Parade.
The company’s ten-strong team of partners and associates will offer advice to owners and operators of out-of-town retail space as well as providing consultancy relating to emerging alternative uses such as logistics, leisure, roadside, self-storage, senior living and residential development.
The team at XPROP is responsible for asset managing over 140 retail warehouse schemes on behalf of a range of institutional clients, in addition to advising on the occupational needs of many established operators in the arena.
Investment Partner at XPROP, Mark Powell, said: “This is a challenging yet exciting time for out-of-town but we continue to strongly believe in the potential of this versatile asset class and have adapted to the changing needs of clients with a dynamic new multi-skilled consultancy.
“Our CWM Out-of-Town heritage is something we are all extremely proud of but the time is right for a fresh approach as we’re increasingly required to extend our capabilities beyond pure retail uses and into applicable alternative uses for the evolving out-of-town sector.”
“Shirin Elghanayan, Senior Partner at CWM, added: “We are very sad to see the OOT team separate off after all these years but, as with most businesses, we are all evolving and adapting to a new era.
“We wish them all well in this new venture having shared many fun times together over the years.”
Agency Partner at XPROP, Mark Thompson, said: “The out-of-town sector is experiencing its most rapid rate of change in history – and XPROP is strategically and uniquely positioned to reflect the new market conditions.
“In addition to providing multi-disciplinary services to both owners and occupiers, our collective experience extends to advising on alternative uses and repurposing options.”