BRAEHEAD shopping centre is under new management, with bosses insisting the Renfrew mall has a bright future.

There were fears for hundreds of jobs at the site when intu properties plc went into administration in June.

Now it has been confirmed that Braehead has left intu's portfolio and will operate under the management of real estate firms Global Mutual and Savills.

The mall welcomes around 16 million visitors each year and is home to a number of well-known brands, including Apple, Next and River Island.

Peter Beagley, centre director for intu Braehead, told The Gazette: “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.”

Global Mutual has taken on the role of asset manager, with Savills appointed as property manager.

While intu properties plc entered administration on June 26, administrator KPMG was not appointed over any of the property companies that own its shopping centres.

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

Steve Gray, head of European retail asset management at Global Mutual, said Braehead is one of the most popular retail and leisure destinations in the UK.

He added: "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, described Braehead as "a vital part of the Renfrewshire community, providing critical support to the local economy."

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

Earlier this month, The Gazette told how the Soar leisure complex next to the Braehead mall had been saved from administration.

The complex – formerly known as Xscape – is continuing to operate after a takeover by Debenture PLC was completed.

Soar is a popular destination for people from across Renfrewshire and beyond, thanks to its real snow ski slope, cinema, shops and restaurants.