Stake in Glasgow’s Silverburn handed £85m price tag
A 50% stake in Silverburn shopping centre in Glasgow is coming to market with a price tag of £85m.
Cushman & Wakefield has been appointed to find a suitable purchaser, CoStar News has reported.
The asset – which opened in 2007 – comprises 125 units let to retailers including M&S, Next, H&M, TK Maxx, as well as Zara and H Beauty, which occupy the former Debenhams department store.
Silverburn also houses a leisure complex – completed in 2015 – which features a 14-screen Cineworld and 11 restaurant units, let to the likes of Pizza Express, Five Guys, and TGI Fridays.
The shopping centre sits on a 67-acre freehold site, which houses 4,500 car parking spaces and Scotland’s largest Tesco supermarket, held on a long leasehold interest.
Silverburn was acquired by Henderson Park and Eurofund Group from a joint venture between Hammerson and Canada Pension Plan Investment Board for £140m in 2022, with Henderson Park as the majority investor.
Hammerson and Canada Pension Plan Investment Board had previously acquired the scheme from Retail Property Holdings for £297.5m.
Recent signings at Silverburn include Pull&Bear and Bershka, both part of Zara’s parent group Inditex, as well as Stradivarius, which will open its first store in Glasgow.