Edinburgh Shopping Mall sells for less than a London Flat!

February 6, 2019

A recent news story coming from Scotland shows that the Postings Shopping Centre in Kirkaldy was sold at an auction (Allsop Auction House) for no more than the price of a London flat offering the new owners a yield of nearly 50%!

With a guide price set at just £1, Postings Shopping Centre in Kirkcaldy, Scotland was sold by Columbia Threadneedle Investments for just £310,000 via telephone bids to a Northern investor.

Retail outlets have been suffering both with increased online sales such as from outlets as Amazon and also with the looming uncertainty of Brexit, this in turn has brought down the value of retail premises ownership.

Postings Shopping Centre was built in the 1980s for £4.2 million, the Financial Times reported last month.

Full report available to read on the Bloomberg website.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

footfall falls
Breaking News

Comment on inflation rising to 3.3%

Industry reaction to inflation rising to 3.3% Daniel Austin, CEO and co-founder at ASK Partners, said: “Today’s uptick in UK inflation will raise fresh concerns across the property market, which is still waiting for the full economic impact of the Iran conflict to feed through. Households, buyers and developers recognise that current data is unlikely…
Read More →
Breaking News

London remains top marathon city for property values

Mayfair tops table for the world’s most expensive marathon neighbourhood as London remains priciest race city The latest analysis from Enness Global has revealed that London is currently the most expensive property market of any city hosting a World Marathon Major, with Mayfair also ranking as the world’s most expensive marathon neighbourhood for those wanting…
Read More →
Breaking News

HMRC ramps up scrutiny of residential property valuations as it cracks down on inheritance tax avoidance

  Taxman’s requests for help from the Valuation Office Agency with property valuations in IHT returns rises nearly 25% Rise reflects HMRC’s increased efforts to recover revenue from underreported and misvalued estates.   HM Revenue & Customs is increasingly challenging residential property valuations in inheritance tax (IHT) returns, with the number of cases referred to…
Read More →
Breaking News

Breaking Property News 22/4/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The Building Centre launches ‘Small Scale Big Ideas’ a month-long exhibition What architecture can achieve when scale is a discipline, not a constraint.   The Building Centre is pleased to announce Small Scale Big Ideas, a major exhibition and public programme running throughout May 2026…
Read More →
Commercial Agent Talk

London office workers want better workspaces, not free lunches

The latest research by BPS London has found that London office workers are more interested in better quality workspaces than superficial perks such as free breakfasts and lunches, with 63% saying they would be more willing to work from the office more regularly if their workplace was more modern, comfortable and better equipped. BPS London commissioned a…
Read More →
Breaking News

The hottest prime property markets outside of London

The latest analysis from Enness Global has revealed that whilst London continues to dominate England’s prime property market, Elmbridge ranks as the nation’s leading hotspot outside of the capital when it comes to homes sold for £3m or more. Enness Global analysed Land Registry transaction data, looking at where homes sold for £3m or more…
Read More →