Edinburgh Shopping Mall sells for less than a London Flat!
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.