Fife’s biggest shopping centre sold as Luxembourg company makes first move into Scotland

Watch more of our videos on ShotsTV.com 
and on Freeview 262 or Freely 565
Visit Shots! now
Fife’s biggest shopping centre has new owners - prompting the town’s MSP to seek a meeting to find out more about its future.

Jenny Gilruth MSP said she was anxious to meet with Focus Estate Fund after it bought out the Kingdom Centre in Glenrothes in its first acquisition in Scotland. The Luxembourg based company is a fund which specialises in buying “non-prime retail properties in Western and Central Europe” and has a team of investment professionals based in Poland, Czech Republic, Ukraine.

It recently entered the UK market after buying Island Green Retail Park in Wrexham, describing the acquisition as “a significant milestone.”

Hide Ad
Hide Ad

Focus Estate Fund bought the Kingdom Centre from with Mars Pension Trustees Ltd which has owned it since 2013.

The Kingdom Centre has new owners (Pic: Fife Free Press)The Kingdom Centre has new owners (Pic: Fife Free Press)
The Kingdom Centre has new owners (Pic: Fife Free Press)

The centre is home to big names such as Boots, Home Bargains, and Game as well as long standing independent traders such as Jessops Jewellers and Little Thistle Gift Shop - but it faces some big challenges including what to do with the former anchor Co-Op store in Albany Gate which has sat empty for years, and was due to be torn down in 2019.

Ms Gilruth, who is seeking an early meeting with the new owners, said: “The Kingdom Centre in Glenrothes is at the very heart of the community and, with new owners, there is a real opportunity here to breathe life back into the centre and bring a welcome boost to the local economy.

“I am writing to the new owners, Focus Estate Management, to request a meeting to discuss potential avenues for the site’s development and ensure that they play an active role engaging with the local community.”

Comment Guidelines

National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.

News you can trust since 1871
Follow us
©National World Publishing Ltd. All rights reserved.Cookie SettingsTerms and ConditionsPrivacy notice