Ownership
The mall has shared a turbulent recent history with the Pride Hill and Riverside centres which came under common ownership in 2003 under Dunedin Property. Protego’s UK Actively Managed Shopping Centre Fund acquired the centres in 2006, serviced by a loan provided by Lehman Brothers. Defaulting on £82m of that loan, the centres entered receivership with the collapse of Lehman.
UK Commercial Property Trust (managed by Ignis Asset Management) took control of the three centres in March 2010 and is under management by Ignis and Shearer Property Group. The Darwin centre has been attributed a nominal value of £38.6m as part of the £63.6m purchase.
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