OCEAN Terminal shopping mall, in Newhaven, is set for a £10m upgrade.
It follows the joint venture purchase of the site by real estate groups, London-based (Intermediate Capital Group) ICG Real Estate, and the Glasgow-based Ambassador Group.
A media release about the purchase and plans says the purchase “aims to move away from previous thinking about transforming the centre into an outlet mall and instead will deliver a more community-focused approach to meet the needs of the expanding residential and commercial areas across Leith”.
The release adds: “Discussions have been taking place during lockdown to negotiate new deals with tenants, including Vue Cinemas, Debenhams, French Connection, GAP and H&M. Existing discussions continue alongside attracting new enquiries to achieve full occupancy in the future of the 420,000 sq ft centre.”
All four note the release confirming that a proposed re-brand – to ‘Porta’ – has been dropped.
Image courtesy of Ocean Terminal