Wed, 14 Nov 2012 | COMMERCIAL PROPERTY
An aesthetically questionable commercial property is for sale in the Scottish town of Cumbernauld.
The Cumbernauld Shopping Centre is on the market for £3.5 million after its previous owners, CNC Investments, went into administration. BDO were appointed to handle the administration and are keen to find firms who want to invest in the redevelopment of the commercial property.
With outlets rented to companies including Lloyds TSB, Ladbrokes and Greggs, BDO claim that the buyer could be in line to inherit a rental income of over £1.2 million a year.
However, the building comes with something of a reputation having once been voted the ugliest building in Britain. Individual views on the architecture may vary, but it is true that the shopping centre has struggled with years of decline and will require some investment to bring it up to scratch.
Sarah Rayment, business restructuring partner with BDO, commented: “Unfortunately the economic climate and difficult trading conditions have significantly â¨affected the business. However, we are hopeful of securing a sale of Cumbernauld Shopping Centre.
“The Cumbernauld Shopping Centre and its retail units will continue to trade whilst all the options are explored.”
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