Princes Square bought over for undisclosed sum as new owners seek high-profile brands for city centre units

Princes Square shopping centre in Glasgow City Centre has been bought over by a commercial property group, as they seek out new 'high-profile' retail and restaurant occupiers for units in the retail hub.

The buyer, M Core is a group of companies with a common interest in property investment and management, they bought the Buchanan Street shopping centre for an undisclosed sum. Under their umbrella are the companies: LCP, Sheet Anchor, Evolve Estates, and Proudreed.

LCP will be manging Princes Square going forward - who also recently bought over The Centre shopping centre in Livingston, alongside Evolve Estates.

Princes Square compromises of four retail units on Buchanan Street, and the interior is spread across five levels.- it boasts an annual footfall of around 52 million.

LCP group managing director James Buchanan said: "The acquisition of Princes Square is a fitting start to 2024. Situated in the heart of Glasgow, it boasts significant retail, food, and leisure brands. With our proven track record in focused investment and intensive asset management, we are poised to capitalise on market opportunities, enhance value, and provide excellent offerings for our tenants."

M Core said: “Princes Square, occupying a prime position on Buchanan Street, is a landmark within Glasgow's vibrant city centre, which is widely acknowledged as the UK’s best retail centre outside of London.

“This strategic acquisition aligns with M Core’s proactive approach to securing key properties in shopping parades, shopping centres and retail parks nationwide.”