Tahir Ali of property development and asset management group Evergold has acquired Hamilton’s Regent Shopping Centre which will be repositioned to suit current market needs.
Several parties expressed their interest to acquire the property through the sales process. Terms of Evergold’s purchase have not been disclosed.
The mall’s location and scale means that it makes up a significant proportion of the town centre core.
It has been identified as a key site in South Lanarkshire Council’s masterplan vision for the regeneration of Hamilton town centre, with a focus on living, leisure, healthcare, workspace and a significantly reduced retail element.
The reconfiguring or redevelopment of Regent Shopping Centre would by far be the largest and most important repositioning project identified in the council’s master plan.
Mr Ali said: “We have already held a series of detailed discussions with South Lanarkshire Council and are looking forward to working closely with them, together with the current tenants, local community and key stakeholders, over the coming years to ensure the most productive use is continued to be achieved for this six-acre gateway site.
“The centre’s previous owners have been judicious investors for Hamilton and continue to be through their ownership of the Palace Grounds Retail Park in the town centre.
“Our plans for the centre are aligned closely with the council’s aim to have a diverse and sustainable mixed use town centre that not only serves its immediate catchment but also becomes a vibrant hub for the wider region.
“Over the coming months and years, we will explore the many ways that can be achieved.”
Shepherd Chartered Surveyors is dealing with letting enquiries.
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