Great Yarmouth shopping centre put on the market by administrators

Market Gates Shopping Centre was placed into administration in 2021.

A Great Yarmouth shopping centre has been put on the market by administrators with a guide price of £4.5m.

Market Gates Shopping Centre bought by Ellandi in 2013 for £28m, but the centre was placed into administration in 2021.

That means the property’s lost sale value of £23.5m in just 11 years.

It can be found in the centre of the town, on the end of Temple Road, while it attracts an estimated 4.5 million shoppers per year.

The description for the listing via FMX Urban Property Advisors, says: “Great Yarmouth is one of the UK’s most popular seaside towns, attracting 7 million visitors per annum.

“The property comprises of 223,247sq ft (20,740 square metres) of retail accommodation across three floors with a 357 space multi storey car park.”

Hear all the latest news from across the UK on the hour, every hour, on Greatest Hits Radio on DAB, smartspeaker, at greatesthitsradio.co.uk, and on the Rayo app.