The Centre and Almondvale West Retail Park
This high-quality asset was the third acquisition for Scoop and demonstrates Scoop's ability to source high-quality stock away from the full spotlight of the market.
In December 2014 Scoop acquired the heritable interest in The Centre and Almondvale West Retail Park for HSBC Alternative Investments Limited (HAIL) from Land Securities for a price in excess of £220 million. Livingston is one of the major retail destinations in Scotland, strategically positioned at the heart of Scotland’s affluent Central Belt.
Built in three phases and comprising circa 860,000 sq ft. The Centre dominates the town’s retail offer. Anchor stores included 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 was 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.