UK REIT Hammerson announced on Monday that Glasgow City Council has granted approval for the extension of the 93,000-m[sup]2[/sup] Silverburn shopping centre in the city.
UK REIT Hammerson announced on Monday that Glasgow City Council has granted approval for the extension of the 93,000-m2 Silverburn shopping centre in the city.
The latest phase of the development will result in an additional 7,728 m2 of high-quality retail plus new leisure space and the upgrade of the promenade leading to Pollok's Civic Realm.
Silverburn is currently Scotland's largest purpose-built shopping centre with over 100 stores and restaurants. The centre is on target to attract 14.5 million shoppers this year, an increase of 5% on 2009, Hammerson said.
The UK REIT jointly owns the asset with Canada Pension Plan Investment Board (CPPIB). The pair acquired Silverburn for £297 mln (then EUR 334 mln) in December last year.
