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Deeping: Shopping centre sold for £5.5m
THE Deeping Centre has been sold in a £5.5 million deal by Anglia Co-operative.
THE Deeping Centre has been sold in a 5.5 million deal by Anglia Co-operative.The sale of the centre in Market Deeping to retail property investment and asset management company NewRiver Retail could open the way for more development at the shopping centre.
As part of the deal, Anglia Co-operative is leasing back its 27,000 sq ft flagship foodstore on the site, plus its petrol filling station, for a 20-year period, and has pledged to make further improvements to the store.
In addition, the Peterborough-based retail business will use the cash from the deal to finance a new funeral home in Werrington and the development of a new site in Sawtry for a large foodstore.
Anglia Co-operative chief executive John Chillcott said: "Our store at Market Deeping was one of our very first large format stores. It opened in 1979 and has been very successful. That's why we have signed up to a 20-year lease to continue to serve the Deeping community.
"We anticipate the new landlord will invest and develop the centre to enhance local appeal."
The Deeping Centre has 11 other retail units and a 275-space car park.
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Friday 25 May 2012
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