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BID Welcomes New Eastgate Centre Owners

As shown in the last paragraph of their press release below issued today (7th March 2013) BID looks forward to working with them supporting Inverness city centre businesses:

F&C REIT vows to engage local community following Eastgate Centre, Inverness shopping centre deal

Real estate fund manager F&C REIT has vowed to work closely with the community to ensure that the Eastgate Shopping Centre meets the future shopping and leisure needs of the City and the Highland Region, following the purchase of the centre last week.

Clients of F&C REIT completed the acquisition of the 320,000sqft (29,750 sq m) shopping centre from property development and investment firm Grosvenor as part of a club deal totalling nearly £250m.

The Eastgate Centre was built in two phases by Royal & Sun Alliance who are another client of F&C REIT and the purchase will give their team an opportunity, once again, to take an active role in the management and development of Eastgate Shopping Centre. The centre recently celebrated its 30th Anniversary on 28th February and it is now 10 years since the second phase of the centre was opened by the Earl of Inverness, His Royal Highness Prince Andrew on 13th March 2003. Royal & Sun Alliance subsequently sold the centre to Grosvenor in 2005.

Joanne Wilkes Head of In Town Retail at F&C REIT commented:

“We are delighted to be taking an active role in one of the country’s top shopping destinations and look forward to working with our customers and the local business community to ensure Eastgate is managed and developed with everyone’s best interests at heart.

“We are confident that we can use our expertise to strengthen the centre’s position as the retail centrepiece of the region and we will be engaging closely with the Highland Council in an effort to do so.

“The scheme has played a vital role in serving local people since it was opened in 1983 and we look forward to working with the Eastgate Management Team and the Inverness Business Improvement District Team to ensure that we deliver the best possible shopping and leisure experience to our customers.”

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