Aberdeen's Union Square centre sold in £111m deal

Union Square opened to the public in October 2009

The Union Square shopping and leisure centre in Aberdeen has been sold in a £111m deal.

Its owner, property developer Hammerson, confirmed it had exchanged contracts with an affiliate of the US-based Lone Star real estate fund, with final completion expected by the end of March.

The shopping centre - which also includes a hotel, cinema and restaurants - opened in 2009.

Hammerson said the sale concluded a programme of disposing of its non-core assets.

Marks and Spencer plans a major expansion of its Union Square branch

Union Square's move to new owners follows the completion of deals in 2023 for Aberdeen's Bon Accord and Trinity shopping centres.

All three of the centres had been on the market at the same time during a troubled spell for the retail sector in the city.

In January, Marks and Spencer announced it would close its flagship St Nicholas branch, adjacent to the Bon Accord Centre, in the spring of 2025.

It said it would instead expand its store at Union Square.