Next's Silverburn refit to add Victoria's Secret, Bath & Body Works

By

Nigel TAYLOR

Published
Feb 1, 2023

Silverburn is in for a busy 2023. Glasgow’s newest shopping centre has agreed new leases, as well as upgrading and upscaling existing tenancies -- including Next, Victoria’s Secret, Sunglasses Hut, Hobbs and The Body Shop. 

Headlining the Eurofund Group-operated centre’s news is a deal with Next to renew and refit its 45,000 sq ft store. The refit will also bring a new Bath & Body Works concession to the centre and a new Victoria’s Secret branded store. 

This means more than 25 new deals have been agreed during the first nine months of ownership and management of Silverburn by Eurofund, the owners noted. 

“Renewing, upgrading and upscaling existing tenancies forms the cornerstone of Eurofund Group’s strategy to turn Silverburn into West Scotland’s premier retail destination”, it added. 

Eurofund Group also highlighted a “strong start to 2023” with a new letting signed with Sunglass Hut, “driving the improvement and diversification of the tenant mix at the centre”. Several existing tenants, including Hobbs and The Body Shop, have also agreed to extend their leases and invest in new store designs. 

The 1.07 million sq ft shopping centre has seen several major international brands arrive in the 10 months since it was acquired by Eurofund Group and Henderson Park – with new openings including The White Company, TAG Heuer, and Decathlon. The retail destination is also undergoing renovations and upgrades for current tenants including Clarks, Claires, and Office.

“These renovations will add an aggregate rent of nearly £1 million, and boost the shopping quality, variety and experience at Silverburn”, it said. 

Alberto Esguevillas, CEO UK Retail, added: “Eurofund Group is deploying its capital, expertise and experience to elevate and reposition the leading destinations it invests in—and Silverburn is a great example of this.”