Clyde Shopping Centre stake sold in £70m deal

PROPERTY group Helical Bar has sold its stake in a Scottish shopping centre for £70 million.

London-based Edinburgh House Estates and Cerberus have bought the holding in Clyde Shopping Centre at Clydebank. Helical acquired the interest in the centre in 2010 in a joint venture with Prime Commercial Properties.

During its ownership, the joint venture has carried out a number of refurbishment and extension works, including the addition of a gym and disposing of the adjoining Asda unit to Aviva for £12.15m. Helical Bar has also sold a centre in Corby.

Duncan Walker, investment director at Helical Bar, said: “These assets have been extremely successful having been acquired at the bottom of the market. We are pleased to see them passed onto purchasers who will build upon our successes.”

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