Double for Harper Macleod with Successful Sales of Glasgow and Stirling's Premier Shopping Centres

Harper Macleod LLP has advised the Princes Square Consortium and Stirling Council on two of the year's highest profile property disposals, Glasgow Princes Square, and the Council's interest in the Stirling Thistle Marches Shopping Centres. 

The two deals, concluded on the same day, buck the trend in an acknowledged flat market and further affirm Harper Macleod as Scotland's 2007 Commercial Property Firm of the Year. 

The 100,000 sq ft landmark Princes Square Shopping Centre was sold to Redevco UK 2 B.V. for £107 million.  Included in the sale was the Guildhall Office Building in Queen Street, comprising 125,000 sq ft of multi-let office accommodation and retail.  Harper Macleod Partner, David Bell, advised the Princes Square Consortium in relation to the sale.  The Princes Square Consortium is a Hermes Real Estate and Invista Real Estate joint venture.   

Harper Macleod Partner, David Steel, advised Stirling Council on the £23m disposal of the Thistles Shopping Centre ground leases to UBS Secure Income Property Fund.  The Thistles comprises around 500,000 sq ft of high quality retail space and first opened in 1977. 

Professor Lorne Crerar, Chairman, Harper Macleod commented; "While the 2007 property investment market has been described by some as being "challenging", I am delighted that our Real Estate team goes from strength to strength.  The firm is highly regarded for its Real Estate expertise externally as evidenced by winning the Scottish Legal Awards, 2007 Commercial Property Firm of the Year." 

Established in 1988, Harper Macleod has 40 Partners, 115 Fee Earners and a complement of 230 staff.  The firm is renowned for its expertise in Public Sector & Housing, Sports, Recoveries, Corporate, Real Estate, Litigation, Banking and Employment and includes The Scottish Government, The Child Support Agency, The Scottish Premier League, Whitbread, William Hill, BP, Airtricity, Optical Express and Tulloch Limited in its impressive list of clients.