Looking ahead after a successful first year at Silverburn. - From Alberto Esguevillas, CEO Eurofund Group UK
London, 23 March 2023 – March marks the one-year anniversary of Eurofund Group’s and Henderson Park Capital Partners strategic partners acquisition of Silverburn, Glasgow , and the beginning of our journey to turn it into the premier shopping, leisure and dining destination in Scotland. I would like to use this milestone as an opportunity to reflect on the successes of an eventful year.
Since its acquisition – in strategic partners between Eurofund Group and Henderson Park for £140 million – Silverburn has continued to grow and innovate, cementing its place as Scotland’s premier shopping destination.
So far, we have agreed more than 35 new deals across the first year of ownership and management of Silverburn by Eurofund Group—as part of our effort to further diversify and elevate the centre’s retail mix. Silverburn has acquired several exciting new brands to its portfolio, including Victoria’s Secret. The leases agreed have included international brands, Polestar and Rituals, as well as an elevated offerings from UK favourite, the White Company, bringing its signature style to the people of Glasgow.
Throughout the year, Silverburn has continued to impress customers and industry experts alike, winning the ‘Shopping & Entertainment Complex of the Year Award’ at the Scottish Hospitality Awards. This prestigious award is a testament to the hard work and dedication of the Silverburn team, who have worked tirelessly to create a welcoming and enjoyable shopping experience for all.
Looking to the future, Silverburn is committed to building on its success and continuing to innovate. We are working with select partners to further elevate the #leisure , #foodandbeverage and #retail offering and will have some exciting announcements across the coming weeks and months.
Eurofund Group’s vision for the future of UK Retail
In recent years, the Retail industry has undergone a significant transformation, and the UK is no exception to this global trend. Even pre-pandemic, the industry was feeling the impact of increased retailer shortfalls and falling investor interest in valuations for retail assets. The pandemic exacerbated these trends, but presented a unique opportunity to those brands that are comfortable with change and open to explore their options with premium retail asset locations available at highly competitive costs.
At Eurofund Group, we believe that not all retail assets are equal, and while there will be challenges ahead, we believe selecting the right assets and combining the correct strategy will continue to bring success in this area. The winning destinations will become stronger and more dominant.
Our strategy has, and always will, go beyond selecting any asset that simply places an attractive price on its head; we recognize that many assets in the UK have not received the necessary investment in capital, time, and energy to unlock their full potential. As such, we deploy our capital, expertise, understanding of culture, community and context to elevate and reposition the destinations we invest in. We ultimately aim to create places of prosperity for people.
With over 30 years of experience in the sector, Eurofund Group is committed to the continued delivery of successful assets and developments. Our vision continues to be that of becoming the UK’s leading investor and operator of the top retail destinations.
On behalf of the entire UK Retail team, I want to congratulate Silverburn on its one-year anniversary. We are proud to be a part of its continued growth and success.
Here’s to many more years of #innovation and #excellence at Silverburn!
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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.
