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| Redevco acquires prime Glasgow shopping centre & office  Property firm Redevco, part of Cofra Holding AG, a Swiss-based holding company, has concluded one of the year's most significant acquisitions by purchasing Glasgow's Princes Square Shopping Centre and the Guildhall Office Building from The Princes Square Consortium, a Hermes and Invista Real Estate joint venture. The purchase price was £107 million. Princes Square is a Grade B listed building which extends to over 100,000 sq ft and houses a five level shopping centre situated on the prime pitch of Buchanan Street. It has 49 retail units with upmarket fashion retailers and eateries dominating the property.Princes Square is home to many of the world's best known lifestyle brands. In developing the now iconic building back in the 1980's, the clients and developers, GRE Properties Ltd, wished to create a centre of quality and distinction where the emphasis is firmly on style. The original buildings consisted of a four-storey merchant square built in yellow sandstone and completed in 1841. The owner, and then Lord Provost of Glasgow, James Campbell was honoured by Queen Victoria with a knighthood. In celebration of the birth of the Prince of Wales, later to become Edward VII, he named his new building Princes Square. The Guildhall in Queen Street was originally known as the Hunter Barr Building. It was designed by David Barclay and was built between 1899 and 1903. write your comments about the article :: © 2007 Construction News :: home page |