Upgrade announced for Ocean Terminal

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.”

The story is reported by several media outlets, including The Daily Business (here), The Scotsman (here), STV (here) and EdinburghLive (here).

All four note the release confirming that a proposed re-brand – to ‘Porta’ – has been dropped.

Image courtesy of Ocean Terminal

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