Shawlands Arcade to be redeveloped following sale
February 25 2016
The joint partners have pledged to remodel and redevelop the ageing complex in a bid to enhance its attractiveness to tenants and shoppers in the face of fierce competition from out of town retail parks such as Silverburn.
Bailie Philip Braat, chair of the Strathclyde Pension Fund commented: “For our members, it is a solid investment and the whole development is underpinned by leases to big high street names. However, we plan to add real value to that investment in a way that will benefit not only the fund, but also the local community in Shawlands and across the Southside.”
In addition to 28 retail and leisure units the complex includes a multi-storey car park and 11,500sq/ft office block. An indicative appraisal of the site by Cooper Cromar however indicates it could be suitable for a mixed use development of 500,000sq/ft of retail and leisure alongside 200 apartments together with retention of parts of the existing centre.
Shawlands Arcade was built in the late 1960’s and was last refurbished in 1995/6.
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