Administrators have provided a major update on the fate of a shopping centre in Cumbernauld.

We previously reported that Antonine Centre had gone into administration with partners in the accountancy firm Azets working to secure a sale of the building.

Built in 2007, the 200,000 sq ft centre has an annual footfall of 3.5 million people.  

Now the firm has secured a going-concern sale of the shopping centre to Beltrace (Antonine) Ltd, a new joint venture company between Belgate Estates and Tracey Investments Ltd.

Glasgow Times:

The deal, which was agreed upon for an undisclosed sum, includes the sale of the shopping centre, its 42 retail units and nearly 1100 car parking spaces.

It will continue to trade as The Antonine Shopping Centre. 

James Fennessey, restructuring partner with Azets, said: “We are delighted to have secured a sale of the Antonine Shopping Centre which is one of Scotland’s leading regional shopping centres with a range of high-quality tenants and a very strong brand name across Central Scotland. 

"The sale is an excellent outcome for the Antonine Shopping Centre and we wish the new owners every success with their future plans. 

"We would also like to thank the retailers, tenants, staff and customers for their support during the administration which has been essential whilst we continued to trade the business.”

Scott Howie, director of Beltrace (Antonine) Ltd said: “We are delighted to have acquired this excellent regional shopping centre which will be at the heart of North Lanarkshire Council’s plans for revitalising Cumbernauld town centre.

"We have a long-term vision for Antonine which we believe will provide vibrancy to the town and we look forward to working with local stakeholders to ensure the town’s continued success.”