The Centre and Almondvale West Retail Park
Scoop’s third acquisition demonstrating ability to source high-quality stock away from the full spotlight of the market
Strategically positioned at the heart of Scotland’s affluent Central Belt, Livingston is one of the major retail destinations in Scotland, built in three phases and comprising circa 860,000 sq ft. The Centre dominates the town’s retail offer. In December 2014, HSBC Alternative Investments Limited (HAIL) acquired The Centre and Almondvale West Retail Park with heritable title from Land Securities for a price in excess of £220 million.
Anchor stores include: Marks & Spencer, Next and Primark, with the largest Asda store in Scotland fully integrated into the scheme. Almondvale West Retail Park comprises circa 115,000 sq ft and is anchored by TK Maxx and Matalan. In total the two assets offer in excess of 2,500 parking spaces and occupy circa 47 acres. Scoop sourced the investment opportunity on a quasi-off-market basis and, working alongside HAIL’S global partner, Hines, undertook all commercial due diligence and formulated the asset management business plan for post-acquisition implementation.