Milngavie: Large part of town centre snapped up by Glasgow investor

A row of retail units in the heart of the village has been bought by Glasgow-based investment firm RR Four Ventures Limited from a London company, for an undisclosed sum.

CDLH, Chartered Surveyors, also Glasgow-based, who acted on behalf of the purchaser, described the deal as “an obvious opportunity for investment and enhancement.”

Alan Creevy, Director of CDLH added: “We highlighted a fantastic opportunity in Douglas Street, Milngavie, where the retail parade, starting at the Royal Bank of Scotland and ending at M&Co at the heart of Milngavie town centre, as an obvious opportunity for investment and enhancement”.

Occupiers include the former Peacocks store, Costa, Greggs and Timpsons. The site also sits at the entrance to the West Highland Way.

New owners RR are also represented by Richard Rae of Richieston property advisors.

He said: “Many of the tenants are on long leases and the purchasers are now considering the long-term investment and opportunities for enhancing the overall asset, indeed, Milngavie Town Centre, as part of an ongoing investment programme”.

A number of local residents told the Herald they hoped this was good news for the town centre’s future .

One said: “Peacocks, which used to be Iceland, has lain empty for some time now so it will be good to have something new moving in there, hopefully soon.

"I also hope the fact that the units have moved from London to a Glasgow company is also good news and that they will bring further improvements to the village. Our town centre is a community asset envied by others.”

The investment comes after £430,000 of improvements to the precinct, including new seating, planters and artworks. The works have been funded by Milngavie BID team and the Council, with support from Transport Scotland and Scottish Government active travel and town centre schemes.

Additions at the newly-repaved area opposite the start of the West Highland Way include a magnificent mural-map made out of weathered steel displaying local landmarks and routes.