A SHOPPING centre in Inverness has been put up for sale for almost £100 million less than it was bought for a decade ago.
The Eastgate Shopping Centre, located in the heart of the Highland city, has been put on the market with a guide price of £18.5m.
The owners of the shopping complex, Harbert Fund Management and Scoop Asset Management, have reportedly appointed Knight Frank to handle the sale.
Harbert Fund Management and Scoop Asset Management bought the Eastgate Shopping Centre in 2015 for £116m through a joint venture.
The shopping complex had previously been bought by Grosvenor for more than £170m in 2005.
It is understood that the shopping centre will remain open and operational while a new owner is found.
Mark Hewett, asset manager for the owner, said: “We are pleased to bring Eastgate Shopping Centre to the market and believe it represents an attractive opportunity for investors.
“The centre benefits from a strong position within its catchment, an established occupier base and a significant role within the local community.
“Whilst we commence this process, it remains very much business as usual for our occupiers, customers and staff, and we remain fully committed to supporting the successful operation of the centre.”
The Eastgate Shopping Centre houses around 80 shops and leisure units through its 410,000 sq ft mall and has two car parks with around 1350 spaces.
Businesses operating in the centre include Costa, New Look, Boots, HMV, M&S and Burger King.
In February, 2025, the owners of the mall said they were “incredibly sad” after they were forced to close its food court just two years after it received £2m in investment.
However, the food court later reopened under Scran.
