The company which purchased Braintree's Freeport shopping village has installed new management.
Hermes, the pension fund manager, is the new owner of a host of Freeport centres including Freeport Braintree.
In keeping with several other of its purchases around the UK, Hermes have installed Realm to operate the site.
Realm specialise in managing factory outlet centres and will be responsible for everything from security to liaising with store owners themselves. Realm currently manage ten outlet centres across the country.
In February Freeport Braintree was sold off as part of a multi-million pound deal.
Hermes acquired four Freeport shopping centres, including Freeport Braintree, for a combined £126m. £78m will be received on completion plus a further £48m to come later.
From the sale a £25 million investment will be made in Freeport's latest venture which is a designer outlet resort in Lisbon, Portugal.
Published Wednesday April 7, 2004
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