Extra MSA Group 

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Evergreen Extra wanted to maximise their return and to create a service area which would set a new standard.

Evergreen Extra operate the new Beaconsfield Motorway Service Area (MSA): which is one of the largest in the UK. They wanted to maximise their return and to create a service area which would set a new standard.

To achieve these goals, they required specialist chartered surveyors with considerable experience and contacts in the food & beverage, travel and at-hand retail markets. It is in this arena that Grice Collins Long has built its outstanding reputation and so were the ideal choice.

Grice Collins Long (GCL) recommended having well-known, branded operators on the motorway blue signs this would attract the maximum number of customers.  However, high-profile retailers would need persuading to take space in a site so close to London and to other existing MSAs. GCL were instrumental in creating a water-tight case for prospective tenants: they reinforced this with robust and creditable turnover forecasts, based on their extensive sector knowledge.

Initially, Grice Collins Long approached well-established tenants, and were able to swiftly secure McDonalds; KFC; LP4 and Shell PFS.

To complete the MSA’s line-up a prestigious coffee bar would be needed.  Grice Collins Long carefully prepared an enticing offer, which included a unique mezzanine area, which promotes impromptu meetings, further maximising takings for the new tenant, Starbucks.

Grice Collins Long also advised Evergreen Extra against taking tenants who were unlikely to be successful at the MSA. This was critical as every tenant was signed onto a turnover rent agreement (this means successful retailers create extra revenue for their landlord). These turnover rents have many benefits, they:

• negate the need for rent reviews
• minimise vacancy rates
• give a good base rent, annually incremented
• landlord benefits successful site marketing

Summary

Beaconsfield MSA is generally accepted as one of the best in the UK. GCL has successfully worked - in conjunction with their client - to ensure a retail line up that is the envy of many other food and travel sites.