Sale plan

Shopping centre owner falls into administration

East Kilbride Shopping Centre
Seeking a buyer: East Kilbride Shopping Centre

East Kilbride shopping centre owner, Sapphire, has fallen into administration and the venue will be offered for sale.

The centre, which has 1.2 million sq ft of retail space, is Scotland’s largest undercover shopping and leisure destination with 150 shops, several restaurants, a cinema and an ice rink.

Blair Nimmo and Alistair McAlinden of Interpath Advisory were appointed joint administrators on Wednesday at the Court of Session in Edinburgh. 

The centre will remain open and all day-to-day operations will continue unaffected by the administration process under the control of Reith Lambert which remains property manager. Scoop AM has been appointed asset manager.

Working with key stakeholders and advisers the administrators will take steps to enhance the Centre and consider the appropriate time to bring to the market.

The announcement comes just a day after the Chancellor announced new measures to ease the cost burdens of retailers.

Mr Nimmo, chief executive of Interpath, said: “While the challenges facing the UK retail sector are well known, the East Kilbride Shopping Centre has remained a popular shopping and leisure destination, and continues to attract well-known names including the likes of Matalan which opened its new store earlier this month.”

Mr McAlinden added: “As we enter the important festive trading period, our priority is to consider the most appropriate strategy to preserve value in this important retail destination.” 

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