Shopping centre up for sale for £52m less than 1999 price

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Northampton’s major shopping mall, the Grosvenor Centre, is on the market for just £31 – that’s £52m less than it was sold for in 1999.

According to reports in trade title Property Week, Montagu Evans has been instructed to sell the 307,000 sq ft shopping centre on behalf of Legal & General. The mall is home to the likes of Primark, Next, Boots, WHSmith, New Look, River Island and Deichmann.

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L&G bought the venue in 1999 from Hermes for a reported £83m. It then announced plans to double the size of the shopping centre, but this never happened.

The Grosvenor includes an 809-space car park above the site.

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