Glasgow shopping centre Princes Square sold to M Core for undisclosed fee

Popular Glasgow shopping centre Princes Square has been sold.

Situated on Buchanan Street, Princes Square has been acquired by property and investment collective M Core for an undisclosed fee.

The centre, which first opened in 1988, features iconic brands such as Kate Spade, Kurt Geiger, Space NK and an Everyman Cinema.

The Square also boasts Zizzi, Il Pavone and Cranachan restaurants as well as Tinderbox and Cafe Bom Bon units.

Princes Square, previously owned by Redevco, underwent a £7.5m refurbishment in 2020 with some of the original architecture of the centre built in 1841.

Commercial property LCP, part of M Core, have been appointed to manage the shopping centre

James Buchanan, LCP Group’s managing director, said: “With our proven track record in focused investment and intensive asset management, we are poised to capitalise on market opportunities, enhance value, and provide excellent offerings for our tenants.”

The centre is popular with shoppers on Glasgow's Buchanan Street. Photo: SNS Group. — The centre is popular with shoppers on Glasgow’s Buchanan Street. Photo: SNS Group. SNS Group

Roddy Proudfoot, head of LCP’s Scotland office, added: “We are already engaged in discussions with high profile potential retail and restaurant occupiers, including new entrants to the Glasgow market, and look forward to making announcements in the coming weeks.”

M Core said: “Princes Square, occupying a prime position on Buchanan Street, is a landmark within Glasgow’s vibrant city centre, which is widely acknowledged as the UK’s best retail centre outside of London.

“This strategic acquisition aligns with M Core’s proactive approach to securing key properties in shopping parades, shopping centres and retail parks nationwide.”

The Royal Incorporation of Architects in Scotland named the centre as the country’s best building of the last century in 2016.

Princes Square have been contacted for comment.