Silverburn buying centre sells for £140m in personal fairness deal

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Silverburn buying centre has been offered to a London primarily based personal fairness agency Henderson Park for £140m.

This deal has been undertaken alongside Eurofund, which is able to act as Henderson Park’s working accomplice.

Silverburn, primarily based in Pollok, Glasgow, was initially purchased by retail property big Hammerson for round £300m in 2009.

The 100,000 sq m buying centre initially opened in 2007 and at present consists of 125 grocery, retail and leisure models, together with Subsequent, Marks & Spencer and TK Maxx.

The mall sits on a 67-acre freehold web site, which additionally contains 4500 automobile parking areas and the most important Tesco in Scotland.

Bosses famous that the centre is at present 78% bodily occupied and hire assortment from the remaining tenants has stood at 92% for the previous quarter.

It’s new homeowners plan to draw new a brand new viewers that focuses on leisure, meals and beverage and experiential retail.

Henderson Park mentioned: “Silverburn is a high 20 UK buying centre positioned in Pollok, a rich suburb of the UK’s fifth largest metropolis, Glasgow.

“As town’s latest and highest high quality buying centre, Silverburn has a large and prosperous catchment space of circa 1.9 million individuals, 80% of that are inside a 21-minute drive.

“The centre additionally advantages from sturdy transport hyperlinks, with a serious bus terminal positioned on web site, and has traditionally generated constantly excessive footfall of 15 million.”

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