Orion Capital Partners has exchanged contracts to buy East Kilbride shopping centre near Glasgow.
The firm has bought the 1.4m sq ft mall for circa £180m from the Royal Bank of Scotland and Delancey.
The shopping centre was bought by Glen Maud’s Propinvest for £407m in 2007. Three years later, Jamie Ritblat’s Delancey took on the asset management of 13 properties owned by Propinvest – including East Kilbride – and secured by a £900m Royal Bank of Scotland loan.
Orion has been active in the UK shopping centre investment market this year, and recently acquired Trinity Walk in Wakefield for more than £150m and a 50% stake in Telford shopping centre for £200m.
Savills acted for Delancey and RBS; DTZ advised Orion.
