Real estate giant Hammerson has put Aberdeen's Union Square mall up for sale, according to industry figures.
The Granite City food and retail centre - which is home to the likes of Hugo Boss, Apple, BrewDog, Zara and H&M - has been valued at £150million and React News reports today that JLL has been lined up to find a buyer for the asset.
Union Square is a hybrid between a shopping centre and retail park, has footfall of around 15million per annum. It hosts 80 shops, restaurants and leisure options, including a 2,400-seat Cineworld cinema.
Hammerson, which sold off assets for £623million last year as part of a strategy to simplify its portfolio, has continued its programme of disposals in 2022.
The group completed the sale of its two shopping malls at Victoria Leeds to Redical for £120million in February. Prior to that, Hammerson sold Silverburn near Glasgow to Henderson Park and Eurofund for £140million.
It has declined to comment on the prospect of Union Square being sold.
Deals
If Union Square does change hands, it will follow a string of major retail deals in the city.
Aberdeen's Beach Boulevard Retail Park recently changed hands in a deal worth a reported £60million.
Reality Income Corporation bought the site from Abrdn (formerly Aberdeen Asset Management) after a "hotly contested process". It was the US investor's second major purchase in the city, having previously bought the Garthdee Retail Park for £32million.
And earlier this year it emerged that Mike Ashley's Frasers Group has placed a property portfolio - including Berryden Retail Park - up for sale in a move which could fetch upwards of £320million.
Closing date
A major land sale in the city is also expected to gather pace this week.
The former Aberdeen Exhibition & Conference Centre (AECC) site in the Bridge of Don will go to a closing date tomorrow, with a number of housebuilders understood to be lining up bids.
Silverburn Park - on the site of the now demolished main AECC complex - has planning permission in principle for nearly 500 homes. Joint agents Savills and J&E Shepherd confirmed that there is good interest in the site.