SGS UK Retail has sold the 1.1 million sq ft Braehead Shopping Centre to Frasers Group.
The Renfrew shopping centre has a footfall of over 15 million visitors per year, with its offering evolving to include the UK’s first SuperPark – which will bring the global indoor leisure and recreation concept to Braehead early next year.
Braehead has also out-performed the Scottish market in the last 12 months, with footfall and spend up by 3% and 4% year-on-year respectively to the end of June – significantly ahead of the Scottish Retail-Consortium-KPMG 12-month average of 0.1% sales growth for Scotland as a whole. The strong performance follows sustained demand from new and existing occupiers, with 16 brands renewing or extending their leases so far in 2025.
Michael Murray, CEO of Frasers Group, commented, “This acquisition is an important step in delivering our property ambitions and accelerating the Elevation Strategy. It cements the Group’s position as a leading operator and champion of physical retail destinations while unlocking greater opportunities to serve communities with the best brands, environments and experiences possible.”
Claire Barber, CEO of SGS UK Retail, added, “The sale of Braehead was always part of our strategic plan and through active management, we have delivered substantial value enhancement and successfully stabilised the asset, attracting new brands and increasing its relevance and appeal to customers. We have created a strong platform from which Frasers Group can continue to drive growth, leveraging its retail expertise to further unlock Braehead’s potential as one of the leading retail destinations in Scotland.
“In light of strong leasing performance and the significant progress made in discussions with brands, we continue to see significant value creation opportunities in the Group’s remaining three assets.”
