Eurofund Group has exchanged on 5,500 sq. ft of new deals including the first Scotland location for electric vehicle manufacturer, Polestar, as well as international home and beauty brand, Rituals—further diversifying and improving the retailer mix at the iconic Glasgow centre.
Lisbon, 27 February 2023 – Eurofund Group, the international real estate investment and development company, has exchanged on deals with two major international retailers. The global home and beauty brand, Rituals, will take up a 2,000 sq. ft unit, while the performance electric vehicle manufacturer, Polestar will move into a 3,500 sq. ft unit. The space at Silverburn will be the Swedish car marque’s first location in Scotland. Both retailers will open later this year.
These latest additions to Silverburn are part of the Eurofund Group and Henderson Park JV strategy to continue bringing a more premium and diverse retail offering to Silverburn—and cement its status as Scotland’s top retail destination. Since the centre was acquired in March 2022 by the JV, new openings have included The White Company, Doner Shack, TAG Heuer, Heavenly Deserts, Decathlon, and an upgraded M&S food hall.
Alberto Esguevillas, CEO UK Retail at Eurofund Group commented, “We are delighted to be the destination of choice for two such high-quality international brands, as we continue to diversify and improve the centre’s offering across all facets. Silverburn provides a unique
opportunity for retailers to position themselves in the Scottish market, at a destination that is only gaining momentum.”
A more diverse and premium retail mix for Silverburn Polestar will open the brand’s first Scottish store, moving into a 3,500 sq. ft space. In anticipation of the opening the brand begun its presence at Silverburn with a pop-up that has been in-situ since January 2023, with this latest commitment the Swedish marque will move into a fully-fledged unit. With four stores in the UK, all of which are in England, Polestar will continue to expand its presence in the country.
Polestar is an innovative, electric car manufacturer with the goal of creating a truly climateneutral car by 2030. The Swedish performance car brand currently has two models on sale —the Polestar 2 and Polestar 3, a pure electric fastback and the Polestar 3, an electric SUV which will commence deliveries in quarter four this year.
Rituals will take up a 2,000 sq. ft unit at Silverburn. Since being founded in 2000 by a former Unilever executive, home and beauty brand Rituals has gone from strength to strength. The brand’s offering includes cosmetics, home scents, body products and elegant gift sets.
Alex Coffey, Leasing Director UK Retail added, “As we continue to build a premium retailer roster at Silverburn, it is a great pleasure to welcome both Rituals and Polestar; international retailers that cater for a more discerning, conscious consumer in their respective sectors.”
Time Retail Partners and Culverwell acted on behalf of the JV partnership on the deals.
About Eurofund Group
Eurofund Group is an investment and development company operating in Spain, Portugal, UK and Italy. The group includes Eurofund Retail, a Living division that already operates as Tribu, (a co-living space in London) and they are soon planning to invest in Senior Living projects, and The Hood, an innovative anti-mall concept that combines street food, leisure, and cultural activities already operating in Lisbon.
Some of the company’s most notable projects include Puerto Venecia Zaragoza, voted the best shopping center in the world at MAPIC 2013; the acquisition of UBBO (formerly Dolce Vita Tejo) in Lisbon, where Eurofund Group has transformed it into the first Shopping Resort in Portugal; and the recent acquisition of Silverburn, the benchmark shopping center in Glasgow, UK. (Italy market)
About Silverburn
Located in Pollok, a wealthy suburb of the UK’s fifth largest city, Silverburn is Glasgow’s newest and highest quality shopping centre with an affluent catchment area of 2.1m people. The centre, which first opened in 2007, has historically generated consistently high footfall of c.15 million. per annum is anchored by a 14 screen Cineworld, 11 new eateries, and total of 120 prime occupiers.
About Henderson Park
Henderson Park is a private equity real estate manager headquartered in London. Its investment strategy focuses exclusively on real estate investments, primarily in Western European capital and gateway cities. Henderson Park develops long-term, trusted partnerships, based on shared vision, transparency and collaboration. The team operates across Europe, with additional offices in Germany, Ireland, Luxembourg and New York.
