‘A united vision’
I-AM was part of the team that advised Alloway LLP on the purchase of The Kyle Centre in April 2014, completing the transaction in four weeks. The acquisition comprises seven acres in the town centre and includes the Kyle Centre, Arran Mall along with the town centre’s main multi-storey car park.
Although The Kyle Centre suffered following the opening of another shopping centre within the town, I-AM identified the opportunity to strengthen The Kyle Centre by introducing a leisure offer which will include a new cinema along with complementary F&B, which will support the retail offer in both the Kyle Centre and Arran Mall. An operator is on board for a seven screen, 1,050 seat cinema.
I-AM is now at the heart of the delivery team, leading the leasing strategy and working closely with the architects on the design process. A planning application will be submitted before the end of 2014 with a start on site scheduled for autumn 2015.
The further phases of the whole repositioning strategy will concentrate on improving the complementary retail offer in Arran Mall.
I-AM was instrumental in identifying the opportunity to turnaround the fortunes of what is regarded by many in the market as a failed shopping centre.
Contact Nigel Poad for more details.