Private asset management firm, Signal Capital, supported by retail property investment specialist, Edinburgh House, has completed on the acquisition of Motherwell Shopping Centre, North Lanarkshire, Scotland.
With over 350,000sq ft of retail units including anchor tenants Primark, Boots and B&M, Motherwell will continue to be managed by retail property and asset management specialist, ESTAMA UK to focus on the development and growth of the scheme.
Colman McCarthy, partner at Signal Capital commented: “Signal is very pleased to get this first acquisition in our UK community shopping centre investment programme completed. We have been researching this sub-sector of the UK retail market for over two years, focussing on demographic factors that influence long term values and we are confident that with this and identified follow on investments we will be able to deliver attractive long-term income returns for our investment partners.”
David Roberts, CEO at Edinburgh House Estates and ESTAMA UK said: “We are delighted to be part of this venture with Signal Capital, it has been a long road to get here but we are very happy with the resulting acquisition and the confirmation that our asset management arm, ESTAMA UK, will retain its current position and continue its excellent management of the Motherwell scheme.”