Acquisition of Livingston Centre

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£40-50m Value
166 No. of units
1m sq ft Footprint

Cited property has advised Evolve Estates and LCP, both part of M Core, on the acquisition of Livingston Centre, Scotland.  The acquisition is one of the most valuable shopping centre transactions of 2023.

The 1 million-square-foot retail and leisure destination is located in the centre of the town, three miles from the M8 and nine miles from Edinburgh Airport.

It includes 166 shops, restaurants, cafes and leisure amenities with tenants including River Island, H&M, Primark and M&S. It is anchored by an 100,000-square-foot Asda store. There are also three car parks nearby, with a total of 3,000 spaces.


Cited Property helped our clients identify and acquire one of the major shopping destinations in Scotland.  Despite competition from other investors and competitive bidding, the asset was purchased at attractive terms that align with our client’s objectives.  This purchase is the largest UK retail acquisition for Evolve Estates and LCP.

We see huge opportunity in the shopping centre sector and are proud to have helped our client acquire an asset of such high quality.

How did Cited help?

Livingston Centre appealed to us and our client because of the resilient performance of the occupiers.  Cited Property’s retailer relationships and knowledge helped us identify this shopping centre as one with great prospects for continued recovery and growth.  The former Debenhams unit, which was vacant at the time of the purchase, affords our client an opportunity to reposition a large part of Livingston Centre. 

What was the result for the client?

Having helped secure the purchase amidst other competitive bidders, we helped our client underwrite the purchase with a full occupational audit and asset management plan.  This includes progressing terms with potential new occupiers.

The purchase completed in November 2023 at terms exceeding our client’s objectives.  The asset management is progressing successfully.

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to find out how we can help you.

"Our involvement on this asset stretches back to 2017 when we helped AEW on the acquisition. Since then our team have remained involved, helping to bring new life to the parade with occupiers including Specsavers and Kokora. It was a pleasure to be asked to assist on the sale, and to achieve such a fantastic price, some 25% ahead of valuation, was a great way to complete the story."

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AEW Bradley Maher - Director

"This was a complicated purchase of multiple assets located nationwide. The challenge was largely the appeal, as we could see real value creating potential in this portfolio. Once we had agreed the purchase, off-market, we helped our client prioritise the most attractive value-enhancing asset management. Cited's existing relationships with occupiers and the agency community helped us significantly improve the purchase metrics ahead of the purchase completion."

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Evolve Estates Bradley Maher - Director

"Cited are committed to deliver on Claire’s business plan of 10+ new stores a year in the UK, entering new locations, as well as relocating existing stores. At Cited, we pride ourselves on our ‘hands on’ approach to work. From identifying new store opportunities on town trips, negotiating terms, through to completion, we ensure we are there every step of the way to advise our client as best as possible. "

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Claire’s Accessories Josh Gettins - Surveyor
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