A 420,000 Sq Ft Overgate Shopping Centre situated in Dundee is available for sale. Jones Lang LaSalle will be overseeing the sale operations on behalf of the Land Lease Overgate Partnership, which will be dissolved on October 31.
The Overgate Shopping Centre has a 105,000 sq ft Debenhams and 70 units with branded retailers such as H&M, Topshop/Topman, Primark and Gap. Talking about the impending sale of the shopping centre, David Raven, head of shopping centre investment at Jones Lang LaSalle said: “Overgate has been credited with helping Dundee climb the Scottish retail rankings, moving from eighth to fourth, and positioning the city as one of the top retail destinations in Scotland. The centre has enjoyed an increase in the number of shoppers throughout the downturn and has achieved consecutive sales growth every month for the last 15 months.”
Overgate has been outperforming the IPD benchmark consistently, with increase in sales every year. In 2009, they recorded £104m in sales alone.
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