Bridgewater Shopping Centre in Erskine, near Glasgow, has been sold £21 million, the first time it has changed hands since it was developed in the mid-1980s.
Greenridge Investment Management has acquired the 93,274 sq ft retail park from Broadlands on behalf of the Greenridge Opportunity Fund.
Bridgewater’s four free-standing buildings occupy a 12.4-acre site along with 425 car parking spaces and elevated walkways connecting the centre with Erskine and Inchinnan.
The largest building accounts for more than half of the total space and is occupied by Morrisons, while Aldi operates from the second-largest unit. Greggs, Subway, Domino’s Pizza and Renfrewshire Council are among the centre’s other occupiers.
Real Capital Analytics (RCA) data for the first half of the year showed that retail attracted more investment than any other Scottish commercial property sector, with deals worth £208m – just ahead of offices at £197m.
Alex Walker, partner at Greenridge Investment Management said: “Bridgewater is a well-let, convenience-led centre anchored by two major food stores in Morrisons and Aldi. It serves the day-to-day needs of Erskine and the surrounding communities, and that kind of regular, needs-based trade supports secure income over the long term.
“The acquisition fits Greenridge Opportunity Fund’s strategy of buying well-located assets with sound fundamentals at an attractive entry point.
“We see clear scope to add value through active asset management, and we look forward to working closely with the centre’s occupiers and Renfrewshire Council over the years ahead.”
John Rae, Glasgow head of office at Knight Frank which acted for the buyer, said: “The acquisition of Bridgewater Shopping Centre represents a well-timed opportunity to invest in a resilient asset.
“Erskine and the surrounding towns provide a strong catchment area and stable footfall for the shopping centre, which plays a central role in everyday community life for local people. That is exactly the type of property that continues to perform despite headwinds in the wider economy.
“At the same time, Bridgewater offers solid fundamentals, long-term income potential and clear opportunities for asset management. We expect more deals involving well-located retail properties during the remainder of 2026 and into next year, as the sector continues to offer good value in Scotland.”
CuthbertWhite represented the seller.
Daily Business Bulletin: Subscribe here for our free morning bulletin of breaking news
#Shopping #centre #owner #21m #deal #Daily #Business