POPULAR shopping mall Braehead will operate under new management.

Intu SGS, who managed the Renfrewshire mall, announced that they have transferred a third of their centres to be run by Global Mutual and Savills. 

The move comes after we previously reported on Intu's administration in June 26. While intu properties plc and several group companies entered administration, administrator KPMG was not appointed over any of the property companies that own the individual shopping centres, all of which have continued to trade as normal with a range of Covid-safe measures in place. 

Global Mutual said they have officially taken on the role of Asset Manager with Savills appointed as Property Manager.

Global Mutual claim they are a highly experienced asset manager in the UK, US, and Europe, currently managing £5 billion of assets in sectors including retail, office, and alternatives. International real estate advisor Savills say they are a leading provider of shopping centre management services across the UK with a strong track record in managing prime, high profile retail destinations.

The existing centre name and branding will remain in place for an interim period.

Peter Beagley, Centre Director for intu Braehead, said: “Today is an important milestone for intu Braehead as we begin a new chapter under different management.

"We have a great team who have worked tirelessly over the past few months to enable the centre to reopen safely and continue delivering for our visitors and tenants.

"Now working together with the highly experienced teams at Global Mutual and Savills we have a lot to be excited about.”

Jim Tucker, partner at KPMG and joint administrator of intu properties plc, added: “To date, 11 intu centres have successfully migrated to new management. Due to the hard work and commitment from all stakeholders, transitions have been achieved in an orderly and efficient manner. We wish the intu Braehead team all the best for the future.”

intu Braehead welcomes around 16 million visitors each year and its 1.1 million sq ft of retail, catering, and leisure space is home to many well-known brands including Apple, Next, River Island, and Superdry.

Including a major sporting and events arena and sitting adjacent to a substantial leisure complex including the UK’s longest indoor ski slope, intu Braehead claims they are one of Scotland’s most popular day out destinations

Steve Gray, Head of European Retail Asset Management at Global Mutual, said: “intu Braehead is one of the most popular retail and leisure destinations in Scotland and indeed the whole of the UK. We are well-funded with strong support from our lender group and consequently have a great deal of optimism about the future of this leading centre.”

Martin Wallace, Property Management Director at Savills, added: “intu Braehead is a vital part of the Renfrewshire community, providing critical support to the local economy as well as offering outstanding retail and leisure facilities.

"We are looking forward to working with Global Mutual and the excellent in-house team to build on the centre’s achievements to date.”