Clients of Invista Real Estate Investment Management (Invista) have acquired the Wellgate shopping centre in Dundee, Scotland for just over £31 mln (EUR 35 mln) in a deal said to be the largest Scottish investment transaction this year.
Clients of Invista Real Estate Investment Management (Invista) have acquired the Wellgate shopping centre in Dundee, Scotland for just over £31 mln (EUR 35 mln) in a deal said to be the largest Scottish investment transaction this year.
Scottish commercial property specialists, FG Burnett, advised Invista on the acquisition, with Cushman & Wakefield and Smith Cole Wright acting for seller Prupim.
'The city of Dundee is undergoing a major transformation with large scale investment taking place,' commented Invista's director and head of retail, Richard O'Boyle. 'This is an excellent time to gain a foothold in Dundee and we look forward to strengthening the Wellgate's position as a favourite shopping destination and to attracting new quality tenants.'
Clients of Invista also own Westhill shopping centre in Aberdeen, which is anchored by Marks & Spencer. Westhill was purchased last August in a £9 mln deal.
