A SHOPPING centre in West Lothian that is home to a host of big-name retailers is up for sale with a price tag of nearly £20 million.
Almondvale West Retail Park, which has tenants including Next, TK Maxx, Smyths Toys, Decathlon and Harry Corry, has been brought to the market at a guide price in excess of £19.125m.
The retail park, which spans 102,168 square feet, is located next to the Livingston Designer Outlet. It is based 15 miles west of Edinburgh, and 31 miles from Glasgow.
The property has been bought to market by Savills, which is acting on behalf of an institutional investor. Savills notes that retail parks have performed more resiliently throughout the pandemic than other parts of the retail market.
Nick Penny, head of Savills Scotland and investment director, said: “Almondvale West presents an extremely attractive opportunity to acquire a well let, strongly performing retail park in a strategic location that secures its ongoing success serving the wide local catchment.”
Jaime Dunster, UK investment director at Savills, added: “Retail Parks emerged as the most resilient in the retail sector throughout the Covid-19 pandemic thanks to the less severe decline in footfall and sales and have consequently become one of the most sought after asset classes in 2022.”
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