The city centre retail destination, once valued at £200m, was previously owned by two Guernsey-based companies, Aberdeen Retail 1 and Aberdeen Retail 2. Joint administrators from Azets were appointed last August when the companies fell into administration due to the impact of the Covid-19 pandemic, rising operational costs, and increased retail competition.

A spokesperson for Azets has confirmed a sale has taken place but has not given any further comment. The purchase by EP properties was confirmed to the Press & Journal, but plans for the centre remain unknown.