The acquisition from Hamcap (Cumbernauld) LLP was completed on Friday 30 June 2023, as part of a multi-million-pound regeneration programme to revitalise the town centre.

The deal was supported with funding from the UK Levelling Up Fund which awarded the council £9.2 million to help acquire the shopping centre and progress regeneration plans.

The Centre Cumbernauld (TCC) will continue to operate as a shopping centre for a number of years, with a full retail offer remaining in place until plans can be fully implemented.

Leader of the council, Councillor Jim Logue, said it was a “once in a lifetime” opportunity to invest in a long-term programme that will essentially transform the town centre’s role in the community and how it is used by residents and businesses.

Councillor Logue said: “The wider regeneration plans will have a significant impact on Cumbernauld town centre but will take a number of years to bring to fruition. It’s a once-in-a-lifetime opportunity to create a multi-use town centre that focuses on sustainable urban living. Once hailed as a new town of the future, Cumbernauld will once again be seen as a forerunner for more inclusive, greener and better-connected town-centre living.”

The purchase follows the decision made last year by Historic Environment Scotland not to list Cumbernauld town centre at this time.

The next steps for the regeneration programme include:

• Further consultation with the community to co-design the town centre based on community needs and demands in line with the approved vision for the town centre
• Robust engagement programme with existing businesses and other town centre users
• Review and continue to develop the masterplan designs for the town centre
• Continue to advance and take forward our plans for a new multi-purpose hub

Councillor Logue added: “By working with local people and businesses to redesign a place-based town centre that is fast-growing, experience-based and adaptive to the many societal, technological and economic changes taking place, Cumbernauld will be re-framed to meet the needs of its communities.

“Integrated local services, repurposed office space, new retail and amenity spaces, excellent transport and digital infrastructure, homes set in the heart of the town centre that are connected with a network of sustainable and active travel links will see Cumbernauld as a modern, vibrant town.”

The shopping centre, along with other council-owned facilities such as The Tryst, the library and other offices in the town centre, will now be considered as part of the major redevelopment programme, which could see facilities transferring to a new state-of-the-art hub. The council will also continue to work with partners and other town centre users to ensure that once developed, key services and facilities can be fully incorporated.

Gatehouse Property Management Limited has been appointed to manage the property on behalf of the council and will continue to manage the building and liaise with retailers.

Councillor Logue added: “This purchase is a significant step forward in the transformational change to Cumbernauld in collaboration with communities. It will take a number of years to realise and until then, Cumbernauld is open for business and the council will work with retailers and other businesses to maximise their potential and continue to attract custom.”