Wed, 25 Jan 2012 | BUSINESS SALE
Forth Ports has announced that it has sold Ocean Terminal, its flagship shopping centre in Leith.
The shopping centre has been bought by Resolution Property, a real estate investor. It has not been disclosed exactly how much the shopping centre, which went on the market in June, was sold for.
The Ocean Terminal centre includes a wide range of high-street shops and leisure venues and celebrated its 10th anniversary last year.
It is understood that Forth Ports plans to plough money from the sale back into its ports business. The company owns eight commercial ports in the UK at the moment and Charles Hammond, chief executive of Forth Ports, has said he sees “significant potential” for the development of this side of the business..
He told the BBC, "As such, while Ocean Terminal is a valuable asset, it is clear that its future will be better served under new ownership and we are delighted that it has been acquired by a new owner with the retail pedigree of Resolution."
Hammond said that Forth will work with Resolution on the development of the nine-acre Waterfront Plaza site at the front of the shopping centre.
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