Tue, 15 Apr 2014 | COMMERCIAL PROPERTY
Fosse Shopping Park in Leicester has been placed on the market by its Northern Ireland-based owner Foyleside.
The sale is part of a wider shopping centre portfolio disposal, also including Foyleside in Londonderry, Palace Exchange in London and Priory Meadow in Hastings, owned by Foyleside Ltd and Abbey Centre Ltd.
There have been unsuccessful attempts to sell Fosse Park in recent years.
Its owner will seek a sale or to make a new arrangement with its banks to refinance the loan used to purchase the centre back in 2006. The deal was worth £360 million at the time.
The 37-acre site is located between Leicester and junction 21 of the M1. Opened in 1989 it has 40 stores and sees 12 million visitors walk through its doors a year.
The shops’ trade was hit by increased competition after Highcross opened in Leicester’s city centre in 2008. Seven stores – Next, BHS, Boots, Gap, New Look, WH Smith and River Island – claimed a total tax rebate of £500,000, a tenth of the business rates they paid between September 2008 and 1 April 2010, as compensation.
Expansion by up to a third is another possibility for Fosse Park. Three companies, including Foyleside Ltd, put in bid offers buy a 13-acre plot of land next door to it earlier this year.
______________________________________________________________________
Related information:
Properties/miscellaneous businesses for sale
Buying a business guides
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
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.