A SCOTTISH shopping and leisure centre has been sold as part of a £111 million deal.
The owner of the Union Square centre in Aberdeen, property developer Hammerson, confirmed it had exchanged contracts with an affiliate of the US-based Lone Star real estate fund, with final completion expected by the end of March.
The shopping centre – which is also home to a hotel, cinema and restaurants – opened in 2009.
READ MORE: Arran: Luxury Scottish island glamping business put on market
Hammerson said the sale concluded a programme of disposing its non-core assets.
Union Square’s move to new owners follows the completion of deals in 2023 for Aberdeen’s Bon Accord and Trinity shopping centres.
All three of the centres had been on the market at the same time during a troubled spell for the retail sector in the city.
We previously told how Marks and Spencer announced it would close its flagship St Nicholas branch, adjacent to the Bon Accord Centre, in the spring of 2025.
It said it would instead be expanding its store at Union Square.
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