U.K. REIT acquires Edinburgh shopping center
Capital & Regional, a U.K.-focused REIT with a portfolio of in-town community shopping centers, has entered into an agreement to acquire The Gyle Shopping Centre in Edinburgh for £40 million (€46 million/$51 million).
The seller is Gyle Shopping Centre Trustee Ltd.
The acquisition is in line with the group’s ambition of seeking selective opportunities to grow the company and further utilize its leading management expertise in delivering its tried and tested community center strategy.
The Gyle is a 415,000-square-foot well-established and designed community shopping center on a 50-acre site in Edinburgh. It has 88 retail units and is anchored by a Marks & Spencer store and Morrisons supermarket. The center is located six miles west of Edinburgh city center in a mixed-use area. The center directly serves two large affl