UPDATED: Orion buys U.K. shopping center for £180m
Orion Capital Partners has purchased East Kilbride Shopping Center in Glasgow, Scotland, from joint venture owners Delancey and Royal Bank of Scotland. The sales price is estimated to be £180 million, or £131 per square foot ($299 million/$217 per square foot).
The 1.38 million-square-foot center was built in 1972 and was renovated in 2003. It is considered one of Scotland’s largest enclosed shopping centers and is the United Kingdom’s 17th largest. East Kilbride Shopping Center is made up of six different malls. It has more than 180 tenants, and major tenants include Debenhams, Mars & Spencer, BHS, Argos and Zara.
The previous owners bought the asset in 2010. It was part of the Blade portfolio purchased from Propinvest Group. A sales price was undisclosed. The po