The Retail & Leisure Specialist

With close links to landlords, developers and occupiers, Harvey Spack Field occupies a unique position in its understanding of the market and ability to respond effectively to its clients’ needs.

Proven track record

We ensure a minimum of associate director level experience with all individuals having proven track records. This expertise helps us provide innovative and consistent performance when providing analysis on specific assets or larger portfolios, as well as advising on strategic expansion or disposals

Investment

Harvey Spack Field is a market leader in the out of town retail investment market focusing on both food and non-food investment acquisitions, sales and development fundings.

Working closely with our asset management team, we provide investment advice for sales and acquisitions of solus retail and shopping warehouses, retail parks and foodstores. Clients include property companies British Land, Land Securities, LondonMetric, Newmark, and William Pears as well as all of the principal UK Institutions including Aberdeen, BlackRock, Henderson, Scottish Widows, Standard Life and Threadneedle. We are a market leader in respect of development fundings and clients include Cranford, Scarborough Group and Citycourt Developments.

Retail & Leisure Park Asset Management

Harvey Spack Field has a team of eight dedicated fully qualified asset managers who act for both landlords and occupiers across the UK in respect of both agency and professional services.

Landlord Activity

The main objective of landlord asset management activity is to investigate and implement an asset management strategy that will enhance tenant mix and improve asset performance through rental growth or yield compression.  The close relationships with retailers allows Harvey Spack Field to provide a clear, concise and informed asset management platform for a variety of assets including regional shopping parks, eg Castlepoint, right the way across the spectrum to more local and convenient retail schemes of one or two units, eg Wickes Norwich.

Harvey Spack Field current advise on circa 120 assets ranging from the traditional retail warehouse scheme through to Shopping Parks and Leisure Schemes.

Investment value of the landlord instructions equates to in excess of £3bn and in space terms circa 8,000,000 sq ft.

Key criteria for Asset Management advice includes detailed analysis strategy regarding tenant mix, redevelopment and physical enhancement.

Occupier Activity

Both on a retained and non-retained basis HSF provide strategic portfolio advice together with a plan of implementation to include all agency disciplines and professional advice incorporating acquisitions, disposals, lease renewals, re-gears and rent reviews.

Harvey Spack Field are currently retained by Wilkos, Office Outlet, FABB Sofas and Tapi Carpets. In addition HSF has established relationships on a non-retained basis with Next, Arcadia, Wickes, Waitrose and in respect of leisure The Gym Group.

Development

Harvey Spack Field is the leading development agent in the market.  Our extensive expertise in identifying development sites for retail park development is un-paralleled. Harvey Spack Field has advised on 4.3 million sq ft (400,000 sq m) of retail warehouse development over the last 10 years across all sub-sectors: open A1 shopping parks and bulky goods parks, foodstores and edge of centre schemes, including Fosse Park, Leicester; Castlepoint, Bournemouth; Brent Cross Shopping Park and Fort Kinnaird, Edinburgh.

Harvey Spack Field provides landowners, developers and investors with a full range of development services including site identification and acquisition, whilst also providing design and development consultancy from conception through to completion of the development.

 Our developer clients include Cranford, Bridehall, Citygrove, County Developments and Citycourt amongst others.

Lease Advisory and Valuation

Harvey Spack Field act for a wide range of institutional funds, property companies, occupiers and private individuals and provide specialist advice on the following:

  • Rent Reviews
  • Lease Expiries and Renewals
  • Dispute resolution – preparation of Expert Witness Reports for Arbitrators and Independent Expert Determinations
  • Lease restructuring – re-gears, surrenders and break clause negotiations
  • Lease analysis and due diligence
  • Lease renewals – including court procedures, Section 34 valuations and alternative dispute resolution through ‘PACT’
  • Rental valuation advice and budgeting
  • RICS accredited Arbitrator and Independent Expert available for private appointments or via the DRS (Dispute Resolution Service) of the RICS
  • Full range of valuation services including development appraisals and other ‘Red Book’ valuations

Harvey Spack Field lease advisory team includes three fully qualified and experienced surveyors offering high quality technical advice combined with specialist market knowledge resulting from over twenty-five years of experience and direct involvement in the retail warehouse sector.

Corporate

Harvey Spack Field’s experience of working with substantial PLC retailers allows us to provide strategic portfolio advice for both landlords and occupiers as required in consideration of corporate purchases.

Portfolio Review

As a consequence of the rapidly changing retail environment retailers are consistently changing their formats and spatial requirements, as a consequence portfolio reviews have become omnipotent to retailers who are seeking to thrive in a competitive market. HSF currently undertake portfolio reviews on behalf of all our retained clients Tapi Carpets, FABB Sofas and Wilko providing up to date market analysis and recommendations for existing properties in respect of surrenders, re-gears and new and competing opportunities.

In addition Harvey Spack Field have provided advice to a number of Private Equity Houses and Hedge Funds including Bridgepoint, Op Capita, Cerberus, Hilco and Harris Partnership in respect of a variety of corporate purchases including Hobbycraft, Game, Focus, MFI, Textile World and Allied Carpets.

Harvey Spack Field continue to work closely with administrators and LPA receivers in respect of crystallising portfolio values, with recent instructions including working for and on behalf of Deloitte and Ernst & Young in providing portfolio analysis on confidential retail matters.

View all of our retained occupational clients