Scotland business

Dundee's Overgate shopping centre sold for £125m

Overgate centre, Dundee Image copyright David Dixon
Image caption The Overgate centre contains 70 retail units and two multi-storey car parks

Commercial property firm Land Securities has announced it has sold the Overgate shopping centre in Dundee to Legal & General Property for just over £125m.

The centre totals 420,000 sq ft of retail space, with 70 retail units and two multi-storey car parks.

Major retailers at Overgate include Debenhams and Primark.

Other high street names based there include New Look, River Island and TopShop.

Charlie Walker, director of business development and fund manager at Legal & General Property, said: "This investment delivers a strong income profile as a core asset, whilst also providing additional opportunities to drive footfall and alter the tenant mix to enhance the rental tone across the scheme."

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