Exclusive: St Giles Shopping Centre was SOLD a month after Elgin mall’s demise and we reveal the new owner.

It has now been revealed that the shopping mall has already changed hands. According to the Press & Journal, a Dundee-based businessman has taken over ownership of Elgin’s St Giles Centre.

The shopping mall was closed in January after its operators pulled the plug due to heavy debts and legal action from Moray Council. Since then, the company has gone into administration, owing more than £5 million in debt.

The company’s sole director, Aviemore-based David Cameron, had blamed Edgar Road retail parks for the Elgin shopping centre’s downfall. However, it can now be verified that the shopping mall has been sold in a deal just weeks after its closure.

Who is the new owner?

According to the Press & Journal, the shopping mall is now owned by Bruce Linton, a Dundee-based property entrepreneur.

The P&J obtained title records from the National Registers of Scotland, which show that the building was transferred to a company called St Giles Estates Limited just a month after the centre closed. According to the documents filed, the ownership of the Elgin shopping centre was amended on March 17.

According to Companies House, the new private limited business was established on 3 February of this year, just 14 days after the building’s gates were permanently sealed.

Mr. Linton is the only director of the new company and has ties to the previous operator of the St Giles Centre.

In 2020, he and Mr Cameron formed a joint venture called Camlin Group to acquire Ellon-based housebuilder Scotia Homes. Separately, via James Keiller Investments, he sold a property portfolio valued around £60 million in 2018.

The businessman also sparked controversy in Dundee the same year when he demolished a historic Dundee building rather than paying a large rates bill on the vacant land.

The former Stewart’s Cream of the Barley facility in Kingsway East was demolished for approximately £180,000, with an annual business rates charge of £225,000.

The businessman attributed the move to the Scottish Government’s decision to end the 100% reduction on business rates relief for industrial properties.

The location is now home to new dwellings. When asked by the Press & Journal, Mr Linton acknowledged that he now owns the St Giles Centre. He declined to discuss further, citing “commercial sensitivities” at this point in the process.

Future of St Giles Centre

The St Giles Centre is now the largest unoccupied structure in Elgin’s town centre. Graeme MacKenzie, a well-known Elgin businessman, had stated that he believes the mall may prosper again under new ownership.

During the summer, insiders disclosed that Moray Council officials were discussing flats in the center’s higher levels as well as commercial space on the ground floor.

A Moray Council spokesman said: “We are aware of the change of ownership of the St Giles Centre, and officers are in conversation with all interested parties to ensure a positive future for the building, surrounding car park and bus station.

“We’ll share any further updates at an appropriate time.” Liquidators Interpath, who are conducting the liquidation of the former operators St Giles Shopping Centre Holdings Ltd, refused to comment.

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