The owners of Glasgow’s Silverburn have agreed new leases as well as upgrading and upscaling existing tenancies amid plans to turn it into the west of Scotland’s "premier retail destination".
Real estate company Eurofund Group, which acquired the shopping centre back in May of 2022, has announced it has agreed a deal with Next to renew and refit the brand’s 45,000 sg ft store.
The refit will also bring a new Bath and Body Works concession to the shopping centre and a new Victoria’s Secret branded store.
Eurofund Group said the renewal, upgrading and upscaling of existing tenancies forms the cornerstone of its strategy to turn Silverburn “into West Scotland’s premier retail destination”.
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Silverburn agrees new leases, as well as upgrading and upscaling existing tenancies—including Next, Victoria’s Secret, Sunglasses Hut, The Real Greek, Hobbs and The Body Shop.
Alongside the latest agreement with Next, new lettings have also been signed with Sunglasses Hut and The Real Greek, while several existing tenants, including Hobbs and The Body Shop, have also agreed to extend their leases and invest in new store designs.
The retail destination is also undergoing renovations and upgrades for current tenants including Clarks, Claires, O2, Office, and Boux Avenue.
Eurofund Group said the renovations will add an aggregate rent of nearly £1 million, and boost the shopping quality, variety and experience at Silverburn.
Alex Coffey, Eurofund Group UK’s Commercial Director, commented: “The ongoing improvements to the centre continue to attract and secure these exciting tenants, further bolstering the premium retail and leisure offering available at the centre. With a continued program of upgrading and upscaling, we look to cement Silverburn’s reputation as an unmissable destination for customers and retailers alike.”
Alberto Esguevillas, CEO UK Retail, added: “Glasgow’s Silverburn already holds a prominent position in the area, and we are delighted to see the centre continuing to perform well. Eurofund Group will deploy its capital, expertise and experience to elevate and reposition the leading destinations it invests in—and Silverburn is a great example of this.”
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