In conjunction with Britannic Assurance (now Ignis Real Estate), Shearer Property Group purchased the listed Arding and Hobbs store at Clapham Junction in South London from Allders plc. The 240,000 sq ft store was remodelled to provide a refurbished store for Allders of 140,000 sq ft (now occupied by Debenhams) and four new shop units totalling 35,000 sq ft. All four units were pre-let to J Sainsbury.
Practical completion occurred in April 2004.
Planning consent for a separate residential site to the rear of the store was secured for 8 townhouses and 6 apartments. This is was developed in partnership with Persimmon Homes.
Capital Value c. £55M.