Morecambe’s Arndale to go to auction with £2m starting price
and live on Freeview channel 276
Allsop who are marketing the centre, say that it is an investment opportunity with more than 41 shops inside.
The centre comprises a 1983 steel-constructed shopping centre with retail accommodation extending to approximately 102,000 sqft.
It has been billed as suitable for longer-term redevelopment, subject to the existing leases and obtaining all the necessary consents.
The Arndale Centre is located in the heart of Morecambe town centre and easily accessed from Lancaster and surrounding areas with good links for car, train and bus users.
Allsop explained: "Prominent town centre scheme comprising 41 units and extending to 9,494 sq m (102,198 sq ft)."
The venue currently brings in just short of £700,000 rent a year from its tenants.
The development is being sold as a freehold venture and is due to be sold via online auction on October 31.
For more information visit https://www.allsop.co.uk/lot-overview/freehold-town-centre-shopping-centre-investment-in-morecambe/c231031-027?searchid=uz8qg3dGVnqaJEnOmqMkmo6hMQZBAeNBIXLkch5BF+U%3D&idx=1#venue
It could be the latest redevelopment project in the area after Eden Project Morecambe was awarded £50m in the second round of the UK Government’s Levelling Up Fund.
In a partnership with Lancashire Enterprise Partnership, Lancaster University, Lancashire County Council and Lancaster City Council, the £100m scheme is planned to open towards the end of 2026 and is expected to bring a lot of trade to the area.
The news of the centre being up for auction comes 18 months after it was revealed the centre was up for sale for £5m.
New River REIT declined to comment.