A Welsh shopping centre has been put up for auction with a guide price of £1m.
The shopping centre, which houses a host of High Street names is set to go under the hammer later this month.
The centre’s tenants include WH Smith, Nationwide, Superdrug, New Look, Peacocks and some local traders.
READ MORE: Anglesey’s Rehau factory sold with hopes jobs can return to the site
Bear Lanes Shopping Centre in Powys currently brings in £222,368 p.a. in rent, Business Live reports.
The 40,750 sq ft property will go under the hammer this month with a guide price of £1m.
The precinct was built at the site of the Bear Hotel after it was demolished in the 1980s – with the facade rebuilt.
The site is up with Allsop auctions with a guide price of offers over £1m.
The auction is set to take place on March 24.
Allsop auction said: “The property comprises an unbroken shopping centre comprising 20 shop units with ancillary upper parts, two of the units interconnect with two units on the High Street which do not form part of the property to be sold.
“The property may lend itself to a variety of alternative uses and redevelopment, subject to obtaining all the necessary consents.”
What do you think of the £1m price tag? Tell us in the comments below.
Credit: Source link