Scottish shopping centre that could be demolished gets new owner

A major South Lanarkshire shopping centre that could be demolished as part of regeneration plans has changed hands.

Tahir Ali of property development and asset management group Evergold has acquired Hamilton’s Regent Shopping Centre for an undisclosed sum. Several parties are said to have expressed interest in acquiring the centre, which covers a six-acre site, through the sales process.

Occupying a dominant position in the centre of Hamilton, the mall’s positioning and scale means that it makes up a significant proportion of the town’s core.

Tahir Ali outside Hamilton’s Regent Shopping Centre.

The site has been identified as a key element in South Lanarkshire Council’s masterplan vision for the regeneration of the town centre, with a focus on living, leisure, healthcare and workspace as well as incorporating a significantly reduced retail element. The plans could involve knocking down both the Regent and New Cross shopping centres while relocating existing retailers.

The “reconfiguring or redevelopment” of the Regent centre would be by far the largest and most important repositioning project identified in the masterplan.

Ali said: “We have already held a series of detailed discussions with South Lanarkshire Council and are looking forward to working closely with them, together with the current tenants, local community and key stakeholders, over the coming years to ensure the most productive use is continued to be achieved for this six-acre gateway site.

“The centre’s previous owners have been judicious investors for Hamilton and continue to be through their ownership of the Palace Grounds Retail Park in the town centre.”

He added: “Our plans for the centre are aligned closely with the council’s aim to have a diverse and sustainable mixed use town centre that not only serves its immediate catchment but also becomes a vibrant hub for the wider region.

“Over the coming months and years, we will explore the many ways that can be achieved. We have instructed Calvin Molinari from Shepherd Chartered Surveyors to deal with new letting enquiries.”

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