Blow for Silverburn as high-profile retailers open in rival shopping centre

SILVERBURN shopping centre has suffered a "lost opportunity" as two high-profile retailers have opted to open stores in rival Braehead instead.

Renfrew-based Braehead, owned by Capital Shopping Centres (CSC), has landed Apple - which is known for opening large "concept stores" - as well as the Southern California-inspired fashion retailer Hollister.

The choice of location is a blow for Silverburn owner Hammerson, which bought the mall from administrators for 297 million in a bidding war last year. A spokeswoman for Silverburn said: "We were in discussions with Apple and Hollister but we didn't have the space that suited their requirements. We are almost completely let and couldn't accommodate them."

She said the mall had tried to persuade existing tenants to move to accommodate the retailers but a deal could not be struck in time. She added the mall had achieved planning consent last month to add a further 100,000 sq ft of space to meet demand from retailers with large requirements.

One retail property insider said it would be a "disappointment" for Silverburn but a "feather in the cap" for Braehead. He said: "These iconic retailers attract extra numbers of people. It will markedly affect their footfall and will bring in a certain profile of shopper, which means a bigger spend per visit.

"Braehead's landlords are bound to be delighted, while Silverburn's landlords are bound to be disappointed. It is a real lost opportunity.

"You can't just pick another Apple or another Hollister off the tree of retailers. They are very rare and unique, and difficult to replace."

He added: "Braehead has established itself as a fantastic location. It doesn't have any trouble letting space but it helps it to remain secured as a shopping destination."

A spokesman for Braehead refused to comment.

Silverburn, which is currently 98 per cent let, was put into administration after the sharp fall in property values reduced the mall's market worth to less than the debt borrowed against it. Its former owner, Retail Property Holdings, had only completed the one million sq ft mall on in 2007.

When it acquired the mall on the M77 in December 2009, Hammerson beat a string of rival buyers, including property giants British Land and London & Stamford.