Wed, 22 Mar 2023 | COMMERCIAL PROPERTY
The owner of Cumbernauld's Antonine Shopping Centre, Bridges Antonine, has filed for administration, with the 200,000 sq ft property now set to be sold. The shopping centre, built in 2007, contains 42 retail units and more than 1,000 car parking spaces, with annual footfall surpassing 3.5 million individuals.
The centre houses numerous prominent tenants, including Next, TK Maxx, TJ Hughes, Boots and JD Sports. However, after it experienced a period of creditor pressure, administrators from Azets have been appointed and tasked with finding a buyer for the centre.
All centre management personnel will remain in their positions during the sale process, which will be handled by commercial property agents. The centre was put up for sale last year by then-owner Bridges Fund Management, which sought offers of over £9 million for the site they purchased five years previously for roughly £15 million, as part of a joint venture with Scoop Asset Management.
Azets restructuring partner James Fennessey said: “The Antonine Shopping Centre is one of Scotland’s leading regional shopping centres with a range of high-quality tenants and a very strong brand name across Central Scotland.”
“The contribution of the Antonine Shopping Centre to the local economy is significant and the centre is as much a social hub and focal point for the region as it is a retail centre.”
“We would encourage interested parties to contact the administrators as soon as possible as we are keen to try and find a buyer promptly.”
How the high street decline is driving a shift in the commercial property market.
One of the best ways to find properties below market price is to look at recent administrations.
Find businesses for sale here.
The business was established in the 2010s, quickly outgrowing its original premises and moving into its current, larger workshop. The previous owner started the business in the South East of England 60 years ago from humble premises, gaining loyal cu...
Here is an excellent opportunity to acquire an extremely profitable, well-established top-end butcher. The butchers are located in a popular seaside resort. The shop is busy throughout the year, with very few seasonal variations.
LEASEHOLD
Independent DIY business that has operated as one of the area’s preferred providers of DIY products for over 30 years. The store has built its enviable reputation based on stellar customer service and its wide range of great-value products.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.