Focus Estate Fund today proudly announces the completion of its second shopping centre purchase in the UK. This strategic investment underscores the fund’s commitment to expanding its global portfolio, following its initial venture in Wrexham, Wales, with the retail park Island Green.

The acquisition of the Kingdom Shopping Centre marks the fund’s second foray into the UK market and reaffirms its dedication to global expansion. The Kingdom Centre features a total Gross Internal Floor Area (GIA) of 428,000 square feet (approximately 40,000 square metres) of retail space. Situated in a prime location, it boasts a strong tenant mix, including Royal Bank of Scotland, Home Bargains, Boots, WH Smith, Greggs, Superdrug, Iceland, Costa, and Poundland, making it a cornerstone of retail activity in Glenrothes and the surrounding region.

The vendor was advised by Knight Frank, with support from Joshua Vernon of Cushman & Wakefield on behalf of Focus Estate Fund.

Maxim Shkolnik, General Partner of Focus Estate Fund, commented on the recent acquisition, stating, “We are thrilled to welcome the Kingdom Shopping Centre into the Focus Estate Fund family. Recognising its significant potential, we envision its growth in alignment with the city’s development. As Glenrothes thrives, we are dedicated to enhancing the shopping centre in collaboration with local authorities, creating a vibrant hub for residents, visitors, and tenants alike. Our mission is to continuously improve and innovate, establishing it as the premier destination for shopping, leisure, and community engagement. In line with our commitment to sustainability, the integration of the Kingdom Shopping Centre into our portfolio marks the beginning of a transformative journey. We are committed to transitioning all our shopping centres to solar-powered facilities, demonstrating our unwavering dedication to promoting a greener and more sustainable future.”

Gordon Mole, Head of Business & Employability at Fife Council, noted, “Fife Council welcomes the purchase of the Kingdom Shopping Centre by Focus Estate Fund and will work closely with the Fund and its agents to ensure that the centre aligns with investments made in the town centre and at Riverside Park. This will create a destination for residents and visitors, supporting the drive for continued regeneration and addressing Fife’s climate emergency.”

With this latest addition, Focus Estate Fund’s portfolio now encompasses nine assets, expanding the gross leasable area (GLA) to over 1,678,000 square feet.