Orion European Real Estate Fund IV has bought Kingsgate Shopping Park in East Kilbride from Aviva Life & Pensions UK.
It paid more than £90m for the 266,000 sq ft Scottish retail and leisure park, which has a footfall of around 7.2m visitors each year.
Current net operating income is about £6.6m a year, and is 100% let to 12 tenants including Sainsbury’s, M&S, Homebase, Next and Nike.
Orion was advised by Paradigm, Aviva by Wilkinson Williams.
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