Focus Estate Fund has completed the purchase of its second shopping centre in the UK. This strategic investment underscores the fund's commitment to broadening its global portfolio, following its initial venture in Wrexham, Wales, with the retail park Island Green.
The Kingdom Centre boasts a total Gross Internal Floor Area (GIA) of c. 40,000m2 of retail space planned across a mall. The tenants include Royal Bank of Scotland, Home Bargains, Boots, WH Smith, Greggs, Superdrug, Iceland, Costa, and Poundland, the centre stands as a cornerstone of retail activity in Glenrothes and the surrounding region.
Maxim Shkolnik, General Partner of Focus Estate Fund, commented: “We are thrilled to welcome the Kingdom Shopping Centre into the Focus Estate Fund family. Recognizing the significant potential of the Kingdom Shopping Centre, we envision its growth in alignment with the city's development. As Glenrothes thrives, we are dedicated to enhancing the shopping centre in collaboration with local authorities, creating a vibrant hub for residents, visitors, and tenants alike. Our mission is to continuously improve and innovate, establishing it as the premier destination for shopping, leisure, and community engagement. In line with our commitment to sustainability, the integration of the Kingdom Shopping Centre into our portfolio marks the beginning of a transformative journey. We are committed to transitioning all our shopping centres to solar-powered facilities, demonstrating our unwavering dedication to promoting a greener and more sustainable future.”
Gordon Mole, Head of Business & Employability, Fife Council, noted “Fife Council welcomes confirmation of the purchase of the Kingdom Shopping Centre by Focus Estate Fund, and will work closely with the Fund and its agents to ensure that the centre aligns with investments made in the town centre and at Riverside Park, creating a destination for residents and visitors, and supporting the drive for continued regeneration and addressing Fife’s climate emergency.”
The vendor was advised by Knight Frank. The acquisition was supported by Joshua Vernon, Cushman & Wakefield, on behalf of Focus Estate Fund.
Image provided by Focus Estate Fund.
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