LaSalle acquires Mercat Shopping Centre from KPMG
LaSalle Investment Management has acquired Mercat Shopping Centre in Kirkcaldy and three retail units on the town’s High Street on behalf of a client from joint administrators, Blair Nimmo and Gary Fraser of KPMG.
Mercat Shopping Centre is a 200,000 square foot covered multi-let shopping centre comprising of 62 retail units. The centre is currently home to 49 retailers, including Marks & Spencer, BHS, Home Bargains, Argos, Poundland and Peacocks.
The scheme is located in the heart of Kirkcaldy’s town centre and a short walk from the bus station.
LaSalle believes there is an excellent opportunity to attract additional retailers to the existing tenant line-up.
Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, says: “We are pleased to have traded the Mercat Shopping Centre during our time as administrators and believe this sale is a positive development for Kirkcaldy as it will allow the Centre to continue trading.”
Andrew Bull, fund manager at LaSalle, says: “We are delighted with this acquisition on behalf of our client. Mercat Shopping Centre is located in a strong town with good retailer demand. We are looking forward to attracting more retailers and working with our existing ones for the benefit of both shoppers and tenants in the town.”
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