Sheet Anchor Evolve, part of M Core, has acquired East Kilbride, a retail and leisure destination in South Lanarkshire. It is M Core’s third flagship Scottish shopping centre investment within three years.
The property extends to more than one million sq. ft. It comprises the Plaza, Princes Mall, Princes Square, Olympia, Southgate and the Plaza Tower, together with more than 1,700 car parking spaces.
East Kilbride is nine miles south of Glasgow. It serves a resident population of more than 78,000 and has a catchment of more than 770,000 people within a 20-minute drive. Above-average retail spending, strong employment levels and excellent transport connections have helped establish it as one of Scotland’s leading retail and leisure destinations.
More than 100 occupiers trade there, across national retail, leisure and food and beverage brands. They include Primark, Matalan, Boots, Sports Direct, JD Sports, Odeon Luxe, PureGym, Home Bargains, Poundland and Nando’s. Annual footfall exceeds 7.5 million visitors.
The centre is directly connected to East Kilbride Bus Station and is within walking distance of East Kilbride railway station. It also has road links to Glasgow and the wider central belt.
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.”
He added: “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.”
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M Core has continued to invest in high-quality retail and mixed-use assets in Scotland. The acquisition reflects the group’s long-term strategy of acquiring well-located destinations with strong fundamentals and clear potential for future investment.
Max Parekura, Senior Asset Manager at Sheet Anchor Evolve, will manage the asset.
