Shopping centre up for grabs at £6.5m

A shopping centre with potential to add a 96-bed hotel in Southport has been put on the market by Delta Properties at £6.5m.

Knight Frank has been instructed to sell the freehold interest in the 60,030sq ft Marble Shopping Centre, reflecting a net initial yield of 9%.

Built in the 1990s, the two-storey shopping centre is close to the resort’s famous Lord Street and is anchored by TK Maxx, with 78% of the current income secured against national covenants.

Last month, planning permission was granted for an eight storey 96-bed hotel which also offers the opportunity to reconfigure the centre and increase the A3 offering linked to the hotel.

Steve Carrick, investment partner at Knight Frank, said, “Marble Shopping Centre offers an excellent hotel development opportunity with planning permission already secured. There is significant interest from well-known hotel brands who are keen to access the Southport hotel market.”