Tue, 16 May 2017 | COMMERCIAL PROPERTY
Newcastle's Roebuck Shopping Centre is up for sale with a guide price of £4 million.
The centre generates around £486,000 a year in rent and boasts a number of popular stores including Next, Argos, Dorothy Perkins and Iceland. Just two of the total number of units are currently empty.
Traders hope the shopping centre's prosperity will not be affected by the impending sale.
The auction is set to take place at London's Berkeley Hotel on May 23.
A spokesman for Allsop auctioneers said: “Our client has set a guide price of £4 million. He owns a number of shopping centres and this is only one of them and he is auctioning it off as he looks at his portfolio."
Capello Lounge assistant manager Rowan Donnell told the Sentinel: "Roebuck Shopping Centre is very important to Newcastle. There are not a lot of things around here as it is and without it people would be inclined to go to Hanley. If someone buys it and brings more shops and restaurants in then it would bring more people into Newcastle."
Some people expressed confusion at the sale. Local resident Dave Hall said: “I do not know why you would sell the centre when it has so much potential. It is right in the middle of the town and has a big car park at the back."
However, he did agree that being able to attract bigger-named shops would be advantageous.
"A lot of people come to Newcastle and even more would if there were more big names like Top Shop or something similar. With the right shops people would rather come to Newcastle than Hanley."
Find retail businesses for sale.
Subscribe to the Business Sale Report.
One of the top job search portals - developed in-house - with over 1m UK-based vacancies available from employers operating in nearly all sectors across the UK. Also develops & operates a series of complementary platforms & mobile apps for use within...
Manufacture and supply of high quality, hard metal, flanges and butt welds with machining services. Enviable reputation. Niche offering. Long standing relationships with suppliers. In-house manufacturing capabilities. Diverse client base including m...
Public and private sector road surfacing and civil engineering contractor with a prestigious Royal Warrant for Road Maintenance. Provides roadworks, groundworks and civil engineering services. Diverse customer base including Royal Estates, local auth...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
|
15
|
|
Jan
|
Hawk Plant enters administration | ADMINISTRATION
The Shropshire company, that has previously undertaken landm...
Sign up to receive our acquisition alert emails to get your FREE guide
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
|
15
|
|
Jan
|
Hawk Plant enters administration | ADMINISTRATION
The Shropshire company, that has previously undertaken landm...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources