A BUYER is to be sought for the country's largest indoor shopping centre after its owner fell into administration. 

The East Kilbride centre will remain open and all day-to-day operations will continue unaffected by the administration process under the control of Reith Lambert.

Scoop AM has been appointed as asset manager with Reith Lambert continuing to act in its capacity as property manager of the centre, which has more than 150 shops, several restaurants, a cinema and an ice rink.

The administrators "will take steps to enhance the centre and consider the appropriate time to bring to the market".

Blair Nimmo and Alistair McAlinden of Interpath Advisory were appointed joint administrators of Sapphire 15 sarl and Sapphire 16 sarl, known together as Sapphire, at the Court of Session in Edinburgh.


Husband and wife team sells firm in multi-million pound deal

STRATEGIC Asset Managers, the Glasgow-based financial advice firm owned by husband and wife Derek and Fiona Stewart, has been sold to acquisitive international wealth management group Kingswood for up to £5.1 million in cash.

HeraldScotland: Strategic Asset Managers (SAM) has three advisers and a total of eight employees, managing in excess of 400 clients and with more than £200m of assets under administration. Strategic Asset Managers (SAM) has three advisers and a total of eight employees, managing in excess of 400 clients and with more than £200m of assets under administration. (Image: Newsquest)

The money is payable over two years, £3.1m on completion and the balance on a deferred basis subject to achievement of performance targets.


Scottish firm hails ‘enormous’ potential of tidal energy after £1.5m deal

EDINBURGH-based QED Naval has moved a step closer to bringing its patented support platform for tidal energy turbines to market.

HeraldScotland: It comes amid hopes that tidal energy can play a key role in contributing significantly to the UK’s energy needs as increased focus is placed on domestic sources, amid the fall-out from Russia’s war on Ukraine.It comes amid hopes that tidal energy can play a key role in contributing significantly to the UK’s energy needs as increased focus is placed on domestic sources, amid the fall-out from Russia’s war on Ukraine. (Image: QED)

The company has secured £1.5 million of investment which will be used to complete the deployment of its Subhub tidal platform at its Yarmouth Tidal Test Centre, where it aims to demonstrate how the technology can benefit the sector and build towards commercial sales.


​Scottish contractor wins record £30m worth of orders in a month

CLARK Contracts has secured over £30 million of new orders in what it says was a record month.

HeraldScotland: Gordon Cunningham, of Clark Contracts, said: 'It is fantastic to secure these new contracts, with both new and existing customers, which has given us a strong start to our financial year.'Gordon Cunningham, of Clark Contracts, said: 'It is fantastic to secure these new contracts, with both new and existing customers, which has given us a strong start to our financial year.' (Image: Clark)

The Paisley-based contractor said new orders include the £8m design and build of a new industrial unit in Belgrave Logistics Park in Bellshill for Knight Property Group.


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