ESTAMA UK appointed as property manager of Motherwell Shopping Centre

Motherwell Shopping Centre

ESTAMA UK has been appointed as the property manager of the 310,000 square foot Motherwell Shopping Centre in Scotland, purchase by Signal Capital in 2021. ESTAMA UK have been appointed to deliver the property management services to the Motherwell Shopping Centre following the success of ESTAMA UK in delivering the property management to 7 other shopping centres owned by Signal Capital.

Firmly focused on serving the local community, Motherwell Shopping Centre enjoyed a tremendous year outperforming its regional competitors in Scotland. The scheme recorded an uplift in footfall of 66% since 2019 (source: Visitor Insights), bucking the downward trend often experienced throughout the UK.

The uplift reflects an increased consumer confidence in the area with an emphasis on shopping local. Located in the heart of Motherwell town centre in North Lanarkshire, the open air scheme is anchored by popular tenants including Primark, B&M, Wilko, and PureGym that serve to meet local needs. With a 600-space car park, there is ample opportunity for visitors to explore the centre and its dynamic array of stores.

The appointment of ESTAMA UK as property managers comes as part of continued partnership between the agency and Signal Capital as part of its UK community shopping centre investment strategy. The strategy has seen ESTAMA UK work closely with Signal on many assets such as its Port Talbot and Taunton shopping centres, where it has yielded great results in its role as both project and asset managers.

Colman McCarthy, Partner, Signal Capital added: “Signal is delighted to announce that ESTAMA UK will now be taking over the property management of Motherwell Shopping Centre. Having worked closely with the team over the last 18 months as part of our UK community shopping centre investment programme, we are familiar with their strategic approach and confident in the expertise they bring to retail property. Applying this across both the asset and property management of Motherwell Shopping Centre will maximise efficiency and deliver even greater success for the scheme.”

George Grimes, Head of Property Management at ESTAMA UK said: “We are excited to be working with Signal and taking on the property management of Motherwell Shopping Centre alongside our current asset management role. The scheme is well-positioned for the local community, and we look forward to building on this through strategic management that supports the investors, tenants, and continues to bring shoppers to the centre.”

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