Property investor Landsec is poised to acquire a majority stake in one of Scotland’s largest shopping centres, according to industry sources.

Landsec has agreed to buy the stake in Glasgow’s 1m sq ft Silverburn shopping centre from Henderson Park and Eurofund for about £200 million.

The owners had previously sought to sell a 50% passive stake in the scheme for £100m, without asset management, but the process was aborted after failing to attract buyer interest, say Estates Gazette and CoStar.

During a three-year joint venture, the current owners have completed more than 60 leasing deals, welcoming a record 16.5m visitors last year.

Redical it said to have shown interest in Silverburn but did not make an offer, citing limited scope for long-term transformation. The company is now in talks to acquire Birmingham’s Merry Hill shopping centre, which is on the market for £250m and is now close to completion.

Landsec, which owns Buchanan Galleries, acquired Silverburn from partners Hammerson and Canada Pension Plan Investment Board for £140m in December 2021.

A spokesperson from Landsec told Estates Gazette: “In line with our strategy, we’ve been clear that we’re considering various acquisition and disposal opportunities that make financial and strategic sense to the business. 

“Unfortunately we’re not able to comment on individual opportunities or market speculation at this time.”

CoStar reported that the firm was in ‘early talks’ to purchase the shopping centre in November.

Tuesday’s news comes two months after the Braehead shopping centre was sold to high street retaiol chain Frasers Group for a similar sum.