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Birmingham Post
Birmingham Post
Business
Owen Hughes

Welsh shopping centre has been put up for auction

A shopping centre in Mid-Wales is set for auction.

Bear Lanes Shopping Centre, in Newtown, Powys will go under the hammer this month.

It was built at the site of the Bear Hotel in the town after it was demolished in the 1980s - with the facade rebuilt.

Bear Lanes Shopping Centre, Newtown (Allsop)

The 20 unit centre's tenants include WH Smith, Nationwide, Superdrug, New Look, Peacocks and some local traders.

The site is up with Allsop auctionswith a guide price of offers over £1m.

They said: "The property comprises an unbroken shopping centre comprising 20 shop units with ancillary upper parts, two of the units interconnect with two units on the High Street which do not form part of the property to be sold.

"The property may lend itself to a variety of alternative uses and redevelopment, subject to obtaining all the necessary consents."

It is approximately 40,750 sq ft in total and currenty brings in £222,368 p.a. in rent.

The auction will take place on March 24.

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