Their needs

Glasgow has a competitive retail environment with a strong offer both in the city centre and out of town. Braehead is located 3 miles south-west of the city and is a major regional mall with ample free parking. It is conveniently positioned close to the M6 motorway and surrounded by complementary uses, including Ikea, Decathlon, and numerous car dealerships (Audi, Porsche, BMW, and Ferrari included). LM has supported Braehead in evolving a tenant mix based on the shopping habits and demographics of the surrounding population. This is reflected in strong sales densities across the asset and a very high occupancy rate.

Our approach and thinking

As assets progress through their lifecycle and ownership changes occur, we adapt our advice to meet shifting retailer demand and the immediate goals of our clients. Over the past five years, we have increased net operating income (NOI) by implementing a dynamic leasing strategy. More recently, establishing a rental tone to grow income in the medium term has become a priority. In Scotland, leases are not burdened by the Landlord and Tenant Act, allowing us to be proactive in ensuring the longevity of rental income.

Joint results

Braehead is effectively fully let. Any units that become vacant are now viewed as opportunities to improve the tenant mix and enhance rental tone. The former curling rink is being reimagined as a family leisure venue, and new retail brands include Castore, Tiger, Mango, TK Maxx, and an extended JD Sports. Braehead is a proven, high-performing retail and leisure destination with a strong regional pull. It’s enduring success lies in ensuring it consistently meets the needs of its customers. We are proud of the pivotal role Braehead plays within the region’s retail landscape and the value it continues to deliver.