Food for thought as Glasgow's St Enoch changes hands

摘要

The sale of the 850,000 sq ft St Enoch shopping centre in Glasgow was fiercely competitive and, as Propertyweek.com revealed last week, Blackstone and Sovereign Land have placed the mall under offer for £10m above the £180m asking price. The opportunity for extensive asset management is likely to have prompted such strong competition from the likes of Oaktree, Infrared and Capital & Regional. Consolidating smaller units to attract larger retailers is likely to be part of the new owners' plans. I vanhoe Cambridge bought the centre in a 50:50 joint venture with US REIT Mills Corporation in 2005 for $524.2m - equivalent to £346m at the time.