GALBRAITH has advised Beltrace (Antonine) Limited, a joint venture between Belgate Estates and Tracey Investments Limited, on the purchase of Antonine Shopping Centre in Cumbernauld.
Antonine Shopping Centre was built in 2007 and is a modern enclosed shopping mall. The centre provides the principal retail offer in Cumbernauld, comprising over 200,000 sq ft of retail and leisure space with nearly 1,100 car spaces. Trading is predominantly at ground floor with a range of high quality tenants. The primary tenants include Next, TK Maxx and TJ Hughes, offices, a school/college, a health centre, as well as new retail, town centre homes, amenity and civic spaces.
Scott Howie, director of Beltrace (Antonine) Limited said:
“We are delighted to have acquired this excellent regional shopping centre which will be at the heart of North Lanarkshire Council’s plans for revitalising Cumbernauld town centre. We have a long-term vision for Antonine which we believe will provide vibrancy to the town and we look forward to working with local stakeholders to ensure the town’s continued success.”
Jamie Thain, Investment Partner at Galbraith commented:
“We are very happy to have secured this asset for our client and look forward to seeing how Antonine Shopping Centre forms part of Cumbernauld town centre’s ambitious transformation over the coming years”.
Galbraith advised Beltrace (Antonine) Limited on the acquisition with legal due diligence provided by Burness Paull LLP. Green & Partners and Shepherd & Wedderburn acted for the vendor.