Glasgow

The Forge, Glasgow

The Forge is a purpose-built community shopping centre in the East end of Glasgow, right next to Celtic Football Club stadium.

The Forge is a purpose-built community shopping centre totalling over 500,000 sq ft including cinema, shops, market hall, Asda and 1,800 surface car parking spaces.

Working in a JV with Ares, we acquired the asset off market, repurposed it and sold to a UK Fund exceeding target returns.

Aim:

To create value by careful investment and re-anchoring of the asset.

Achievement:

  • Creation of 50,000 sq ft extension let to Primark and Dunnes
  • Development of the master plan for wider regeneration
  • Upgraded some of the malls

Resulting in sale to Grosvenor Shopping Centre Fund for £120m. Achieved 2 x Equity multiple and 30%+ IRR.

Project Details

Services provided
Asset Management | Development Management

Mix of Uses

Retail

Retail

Car park

Leisure

Food & Beverage