Clients of Invista Real Estate Investment Management (Invista) have acquired the Wellgate shopping centre in Dundee, Scotland for just over £31 mln (EUR 35 mln) in a deal said to be the largest Scottish investment transaction this year.

Scottish commercial property specialists, FG Burnett, advised Invista on the acquisition, with Cushman & Wakefield and Smith Cole Wright acting for seller Prupim.

'The city of Dundee is undergoing a major transformation with large scale investment taking place,' commented Invista's director and head of retail, Richard O'Boyle. 'This is an excellent time to gain a foothold in Dundee and we look forward to strengthening the Wellgate's position as a favourite shopping destination and to attracting new quality tenants.'

Clients of Invista also own Westhill shopping centre in Aberdeen, which is anchored by Marks & Spencer. Westhill was purchased last August in a £9 mln deal.