Hurstwood Holdings has been revealed as the privately owned property company that acquired the 95,000 sq ft Loreburne Shopping Centre in Scottish town of Dumfries.
This is the first shopping centre that the Manchester-based property investment and development company has ever acquired.
The centre comprises 42 units over two floors and is home to a number of retailers including as JD Sports, Superdrug, Poundland, The Works and Holland & Barrett as well as local retailers including Whitecross Dental Care and a new Polish speciality store. It also has an 80-space town centre car park.
“This is a real coup for the company,” said Stephen Ashworth, chairman and CEO of Hurstwood Holdings. “It has been a long term ambition of ours to own a shopping centre and we felt the time and opportunity was right to realise that ambition.
“This is the only shopping centre in the town and has been very popular with both the local community and people from neighbouring towns and we believe is vital to the future economic success of the area.”
Ashworth added that Hurstwood have also recruited the existing centre manager, Jim Ireland for his ‘extensive experience’ and has plans to reach out to the community with its new ideas to take the centre forward to a fresh and successful future.