Pradera Lateral has been appointed as the new asset manager for four major shopping centres, previously managed by Global Mutual, as SGS aims to usher in a new era of growth for these high-profile retail destinations.
The centres now under Pradera Lateral’s management include the Lakeside Shopping Centre in Essex, Atria Watford, Victoria Centre in Nottingham, and Braehead Shopping Centre near Glasgow – all iconic shopping hubs in their respective regions.
Lakeside Shopping Centre, a premier regional retail destination, spans 1.6 million sq ft and boasts over 250 shops and restaurants, along with a vibrant leisure offering. Major tenants include M&S, NEXT, Zara, H&M, Primark, and Apple.
Atria Watford, situated in the heart of the town, covers 1.4 million sq ft and offers a variety of retail outlets, cafés, bars, restaurants, and a nine-screen Cineworld cinema. Its key tenants include M&S, Zara, H&M, Apple, Next, and Primark.
Nottingham’s Victoria Centre, opened in 1972 after a regeneration project that transformed a former railway station, extends over 950,000 sq ft. This mixed-use development features 120 stores, including anchor tenants John Lewis and House of Fraser, along with residential flats and office space. Other notable retailers include Next, WHSmith, Boots, and EE.
Braehead Shopping Centre, just outside Glasgow, spans 1.1 million sq ft and offers retail, leisure, and food spaces, alongside 7,900 free parking spaces and convenient public transport links. The centre welcomes 16.5 million visitors annually and is home to 120 UK and international brands.
SGS believes that Pradera Lateral’s appointment will drive the growth of these shopping centres, particularly with the recent addition of Philip Wardle, who joined from British Land’s mall leasing team. Wardle will collaborate closely with Pradera Lateral and its new CEO, Claire Barber, to lead the next phase of development.
Barry Cox, Managing Director of Pradera, expressed excitement for the future, saying: “We are grateful to SGS for placing their trust in us, and we’re eager to take this portfolio of prime shopping centres into a new chapter of growth. With ambitious plans in place, we look forward to working closely with Claire Barber and her team to realise the full potential of these centres.”
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