Wednesday, 27 May 2015
M&G Real Estate makes Scottish shopping center acquisition (UK)
M&G Real Estate has acquired Ayr Central from Ayr Shopping Centre Ltd, a joint venture between Sovereign Land and funds managed by Ares Management, L.P. The transaction was made on behalf of the M&G Property Portfolio, managed by Fiona Rowley and Justin Upton.
The 16,550 m² shopping center opened in 2006 in Ayr town center and is the area’s dominant retail scheme, anchored by Debenhams and Primark.
Other tenants include Top Shop, Top Man, Next, H&M, River Island, JD Sports, Clarks, HMV, Costa, and 99p Stores. The ‘big box’ format center also includes a 450-space car park.
Fiona Rowley, comments: “We are delighted to have secured this centre. Ayr Central has undergone a number of enhancements over the past four years by the sellers and presents really well. It has now become the prime focus for retailing in Ayr town centre.”
Source: Redwood Consulting