Braehead leisure complex saved by takeover

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Soar BraeheadImage source, Google
Image caption,
Soar Braehead will be rebranded by the end of the year

A major leisure and entertainment complex in Renfrewshire has been saved from administration.

The future of Soar in Braehead, formerly Xscape, has been secured after a takeover by Debenture PLC from the previous owners Intu.

The centre is well-known for its real snow ski slope, ice rink, cinema, shopping and restaurant facilities.

Debenture has appointed asset and property management company Mapp to oversee the 370,000 square foot site.

The centre will continue to operate under the Soar branding ahead of a revamp and a new name before the end of the year.

Image source, Jeff J Mitchell
Image caption,
The Intu shopping centres went into administration at the end of June

The company plans to change the logo, external signage and create a new website for the venue.

Nigel Mapp, chief executive at Mapp, said: "​The onsite team at Soar is outstanding and we are working with them to grow the team. Together we'll ensure that many, many more fun and memorable experiences are had at Scotland's unique entertainment destination."

Jim Tucker, from KPMG, is joint administrator of Intu. He said​: "​The orderly migration of Intu's centres to new management continues at pace despite their challenges, with further transitions set to conclude in the coming days. We thank the team at Soar for their support during the administration process and wish them well for the future."

Intu, the owner of some of the UK's biggest shopping centres, called in administrators at the end of June.

The firm, which owns Braehead, the Trafford Centre, the Lakeside complex, was unable to reach an agreement in financial restructuring talks with its lenders.

Its centres have remained open under administrators KPMG.