Redevco has bought Princes Square shopping centre in Glasgow.

The purchase is one of the few deals in the shopping centre investment market to have exchanged since the credit crunch that began in July.

Princes Square
As tipped by Property Week (19-10-07) Redevco has bought Glasgow’s Princes Square shopping centre and the Guildhall office building from The Princes Square Consortium, a Hermes and Invista Real Estate joint venture, for £107m.

Simon Smith, Managing Director of Redevco UK said 'the acquisition of Princes Square fits Redevco UK’s strategy of diversifying its retail holdings to include shopping centres.'

100,000 sq ft
Princes Square is a 100,000 sq ft five level shopping centre with retailers including Reiss, Oasis, Links of London, Ted Baker and Whistles and a 125,000 sq ft of office at Guildhall block.

King Sturge represented Redevco, whilst DTZ in London acted for Hermes and Invista.