Bridgewater Shopping Centre in Erskine has been sold for the first time since it was developed in the mid-1980s.<\/p>\n
Greenridge Investment Management has acquired the retail park from Broadlands for around \u00a321m, on behalf of the Greenridge Opportunity Fund.<\/p>\n
Independent commercial property consultancy Knight Frank acted for the buyer, while CuthbertWhite represented the seller.<\/p>\n
Alex Walker, partner at Greenridge Investment Management, said: “Bridgewater is a well-let, convenience-led centre anchored by two major food stores in Morrisons and Aldi. It serves the day-to-day needs of Erskine and the surrounding communities, and that kind of regular, needs-based trade supports secure income over the long term.”<\/p>\n
Located near Glasgow, Bridgewater Shopping Centre provides 93,274 sq ft of retail accommodation across four free-standing buildings on a 12.4-acre site.<\/p>\n
The largest building accounts for more than half of the total space and is occupied by Morrisons, while Aldi operates from the second-largest unit.<\/p>\n
Greggs, Subway, Domino’s Pizza and Renfrewshire Council are among the centre’s other occupiers.<\/p>\n
Walker added: “The acquisition fits Greenridge Opportunity Fund’s strategy of buying well-located assets with sound fundamentals at an attractive entry point. We see clear scope to add value through active asset management, and we look forward to working closely with the centre’s occupiers and Renfrewshire Council over the years ahead.”<\/p>\n
John Rae, head of office at Knight Frank Glasgow, said: “The acquisition of Bridgewater Shopping Centre represents a well-timed opportunity to invest in a resilient asset. Erskine and the surrounding towns provide a strong catchment area and stable footfall for the shopping centre, which plays a central role in everyday community life for local people. That is exactly the type of property that continues to perform despite headwinds in the wider economy.”<\/p>\n
Real Capital Analytics data for the first half of the year showed that retail attracted more investment than any other Scottish commercial property sector, with deals worth \u00a3208m \u2013 just ahead of offices at \u00a3197m.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bridgewater in Erskine changes hands in \u00a321m deal<\/p>\n","protected":false},"author":26,"featured_media":8197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362,2,1,9,47995],"coauthors":[160],"class_list":["post-8195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-deals","category-latest-news","category-property","category-retail","tag-featured-story","tag-greater-glasgow"],"yoast_head":"\n