The British Land Company PLC has completed the disposal of Auldhouse Retail Park, Glasgow for £39.8 million to AXA REIM UK Limited. Located in the Pollockshaws district of Glasgow five miles south of the city center and close to Junction 1 and 2 of the M77, the scheme comprises 118,000 sq ft (10,962 sq m) of retail accommodation with an open A1 non-food (partially restricted) planning consent.
The tenant line-up includes a number of national retail brands including Homebase, Carpetright, MFI, Powerhouse, Harry Corry, Linda Reid and Comet. Planning consent has also been obtained to increase the park by a further 20,000 sq ft (1,858 sq m).
Commenting on the transaction, Darren Richards of British Land said:
The disposal of this park follows a recent strategic review of our retail park portfolio and we are delighted that the transaction has now completed with AXA.
Montagu Evans acted on behalf of British Land and Donaldsons acted on behalf of AXA REIM UK Ltd.
Source: British Land