(Image: Supplied)
A shopping centre near Glasgow has changed hands for the first time since it was developed in the mid-1980s in a deal worth around £21 million.
Bridgewater Shopping Centre in Erskine was sold by Broadlands to Greenridge Investment Management, which plans to focus on the centre’s long-term income potential and opportunities to improve the asset.
The centre spans 93,274 square feet across four standalone buildings on a 12.4-acre site. It has 425 parking spaces and elevated walkways connecting it with Erskine and Inchinnan.
Morrisons occupies the largest building, while Aldi is based in the second-largest unit. Other tenants include Greggs, Subway, Domino’s Pizza and Renfrewshire Council.
The acquisition comes amid renewed activity in Scotland’s retail property market. According to Real Capital Analytics, retail property attracted more investment than any other Scottish commercial property sector in the first half of 2026, with deals totalling £208 million.
Greenridge Investment Management specialises in acquiring and managing real estate assets, using its own capital and third-party investment. Knight Frank is an independent property consultancy operating internationally.
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Alex Walker, partner at Greenridge Investment Management, said:"Bridgewater is a well-let, convenience-led centre anchored by two major food stores in Morrisons and Aldi.
"It serves the day-to-day needs of Erskine and the surrounding communities, and that kind of regular, needs-based trade supports secure income over the long term.
"The acquisition fits Greenridge Opportunity Fund's strategy of buying well-located assets with sound fundamentals at an attractive entry point.
"We see clear scope to add value through active asset management, and we look forward to working closely with the centre's occupiers and Renfrewshire Council over the years ahead."
John Rae, head of office at Knight Frank Glasgow, said: "The acquisition of Bridgewater Shopping Centre represents a well-timed opportunity to invest in a resilient asset.
"Erskine and the surrounding towns provide a strong catchment area and stable footfall for the shopping centre, which plays a central role in everyday community life for local people.
"That is exactly the type of property that continues to perform despite headwinds in the wider economy.
"At the same time, Bridgewater offers solid fundamentals, long-term income potential and clear opportunities for asset management.
"We expect more deals involving well-located retail properties during the remainder of 2026 and into next year, as the sector continues to offer good value in Scotland."