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East Kilbride Shopping Centre has been acquired out of administration for a reported \u00a320m by property investment, management and development company MCore, owner of Princes Square, Glasgow and The Centre, Livingston.<\/p>\n
Alistair McAlinden and James Dewar of Interpath were appointed as joint administrators to previous owner of East Kilbride Shopping Centre Sapphire 16 SARL in November 2022. <\/p>\n
The centre site includes 150 shops, restaurants, offices, cinema, hotel, pub, night club, children\u2019s nursery, library, ice-rink, bingo hall and gym. The administrators\u2019 appointment also included Centre West, which was a distinct part of the Centre.<\/p>\n
Following their appointment, the joint administrators continued to operate the Centre and engaged Scoop Asset Management, together with a design team of architects and surveyors, to create a development masterplan that set out the strategic future for the Centre. <\/p>\n
As part of this plan, Centre West was transferred in December 2025 to South Lanarkshire Council, which will oversee the redevelopment of that part of the site.<\/p>\n
Mr McAlinden said: \u201cThe transaction also demonstrates that there remains a strong market for retail real estate assets, where fundamental demand is sound, and redevelopment opportunities exist.\u201d<\/p>\n
Reith Lambert\u00a0provided property management services to the joint administrators, while\u00a0Savills\u00a0was engaged to provide letting and agency advice.<\/p>\n
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