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| Prupim purchases Wellgate Shopping Centre in Dundee HBG Properties Ltd (the property development unit of Royal BAM Group's operating company HBG UK) has sold Wellgate Shopping Centre in Dundee, Scotland, to Prupim (real estate investment management), who have purchased the centre on behalf of M&G Property Portfolio, for approximately €123 million. HBG Properties acquired the shopping centre in June 2003 to redevelop it. Since then the company has invested considerably in refurbishment of the shops and the integrated 600 space multi-storey car park. During HBG’s ownership of the Wellgate Shopping Centre, it secured lettings with annual rents in excess of £1.5 million to many new tenants. write your comments about the article :: © 2007 Construction News :: home page |