Sheet Anchor Evolve, part of M Core, has acquired the 1m sq ft+ East Kilbride retail and leisure destination in South Lanarkshire, Scotland, for an undisclosed price.
The acquisition comprises the Plaza, Princes Mall, Princes Square, Olympia, Southgate and the Plaza Tower, in addition to more than 1,700 car parking spaces.
Located nine miles south of Glasgow, East Kilbride is home to more than 100 occupiers, including Primark, Matalan, Boots, Sports Direct, JD Sports, Odeon Luxe, PureGym, Home Bargains, Poundland and Nando’s.
Sebastian Macdonald-Hall, chief investment officer (Europe) at M Core, said: “East Kilbride is a significant acquisition for M Core and further strengthens our presence in Scotland. It is a substantial, well-established destination with a strong catchment, good connectivity and strong underlying fundamentals. We are very considered about where we invest and East Kilbride has the scale and characteristics we look for. We see clear opportunities to build on what is already there and strengthen the destination over time.”
FMX, Montagu Evans and Morton Fraser McRoberts advised on the acquisition.
