- A car park as well as 10 short-hold tenancies flats come with the sale
A shopping centre, which boasts numerous big brand names, is up for sale for an eye-watering £16.45 million.
Built over 55 years ago in 1969, St Martin’s Shopping Centre has a staggering 92,000 square feet of retail space.
The prime real estate – located in Caversham – already hosts some household names, including Waitrose, Iceland and Boots – so it’s never short of footfall.
Its long list of major outlets includes, Superdrug, Costa as well as several long-serving local shops including The Caversham Butcher and household good’s store – Terry’s.
Even new businesses are set to move into the centre, meaning the shopping precinct will be completely packed out, according to the Reading Chronicle.
Originally based in Pangbourne, optician business Eye Club is in the process of moving into what was Cara Shoes.
St Martin’s Shopping Centre which boasts numerous big brand names, is up for sale for an eye-watering £16.45 million (pictured)
The shopping precinct also has 10 short-hold leased flats as well as 250 parking for grabs
Reading-based bakery goods business – BKRY – it setting up shop in the unit formerly belonging to House of Cards.
However, a packed out shopping centre isn’t all this retail paradise has to offer potential buyers.
Not only is the shopping mall being auctioned off with a car park with a whopping 250 spaces, as well as 10 flats currently leased on short-hold tenancies.
The prospective buyer would also be given planning permission to potentially add more residential accommodation on the land.
This commercial property has been listed by KLM Real Estate as instructed by Federated Hermes.
This come a year after a shopping centre in West Wales sold for only £300,000 – less than the average price of a British house at the time.
The once-prosperous Cambrian Way in the centre of Carmarthen, West Wales, was built just 35 years ago.
In December 2023, it was sold in a private sale for only £300,000 with a local businessman believed to be behind the bid.
The centre is home to eight shops, kiosks and a snooker hall although most are shut up and remain derelict as the centre struggles to attract more shoppers.
The 13,000-population town in the heartland of southwest Wales has lost the likes of Debenhams, Topshop, River Island and H&M in recent years.
More recently, Frankie & Benny’s has since shuttered its doors in the formerly prosperous market town.