Letting Agents Appointed To Boost Dundee Shopping Centre
Tuesday, 08 March 2011
Land Securities has announced that Cushman & Wakefield will drive forward its retail agenda for Overgate shopping centre, Dundee.
The firm has been appointed as sole letting agent for the 420,000sq ft shopping centre, which Land Securities recently bought from the Lend Lease Overgate Partnership for £141million.
Land Securities is delighted with the addition to its Scottish retail portfolio and believes there is great scope to further enhance the centre's tenant mix.
Katherine Armstead, portfolio manager for Scotland, Land Securities, said: "We see enormous potential in Overgate which attracts more than 14million shoppers a year and already is the dominant retail offer in Dundee. We are delighted to be working with Cushman & Wakefield to further improve this great shopping centre and, in turn, add greater value to our portfolio."
Cushman & Wakefield has plenty of experience with Land Securities' shopping centres - it currently acts as the retail agent for The Centre in Livingston, and the Bon Accord & St Nicholas shopping centres in Aberdeen.
Stuart Moncur, Partner in C&W's UK Retail team said: "We are delighted that Land Securities has appointed us to work in partnership with them on Overgate Shopping Centre. We see a wealth of opportunities in Overgate and see significant scope to enhance the tenant mix and drive forward the performance of the asset - indeed we already have a range of initiatives underway to bring this vision to fruition."
Notes to editors:
Land Securities is one of the UK's leading real estate investment trusts with a Scottish portfolio comprising four retail parks and five shopping centres including:
- The Centre and extensive retail warehousing developments in Livingston
- Livingston Designer Outlet (joint venture with Morley)
- Bon Accord & St Nicholas Centres in Aberdeen (joint venture with British Land)
- Buchanan Galleries in Glasgow (joint venture with Henderson Global Investors)
- Overgate shopping centre, Dundee
- Kingsway West retail park in Dundee
In March 2004, Land Securities entered into a 50/50 joint venture with British Land to create the Scottish Retail Property Limited Partnership which now includes its joint Aberdeen holdings.