Shopping centre withdrawn from public auction for second time

The Castle Place shopping centre was due to be sold by auctioneers Acuitus on Thursday (September 21) with a price tag of £400,000 but was apparently withdrawn on Monday.

It is understood that centre managers, APAM, which manages the centre on behalf of Nexus Properties Ltd, are 'pursuing other opportunities'.

Centre manager Donna Stephens, who has managed the centre for the past seven years, declined to comment.

The Castle Place shopping centre was pulled from a public auction on Thursday for the second time. Photo: Trevor Porter (Image: Trevor Porter 69480)

The centre was first pulled from a public online auction in May after being ‘sold’ prior to it taking place.

The potential buyer, David Campbell had offered to purchase the centre for £1.2 million through one of his companies, Belgravia 17 Investments Ltd.

But tenants were told in July the sale had been delayed and Mr Campbell and Belgravia 17 Investments Ltd were unable to complete the purchase.

The centre went back onto the open market in August and was listed for sale by a public auction this week before being pulled for the second time.

The escalator down to the Castle Place Market Hall. Photo: Trevor Porter (Image: Trevor Porter)

If talks with a prospective buyer fall through, the centre is likely to be relisted for sale by a public online auction in November.

Sitting on a prominent 1.73-acre site on Market Street, Castle Place was built in 1974 but is generally regarded as being past its best.

It boasts 475 car parking spaces, as well as a market hall, the main shopping mall and a leisure centre within its curtilage.

In the meantime, the centre will be dealt a serious blow on Monday (September 25) with the loss of Wilko’s, its largest tenant.

 The budget retail chain is closing its doors for good on Monday after administrators were called in by its directors.

The Wilko's store in Castle Place, Trowbridge, closes its doors for the final time on Monday. Photo: Trevor Porter (Image: Trevor Porter)

The Wilko’s stores in Chippenham and Trowbridge are trading this weekend for the last time.

Two Wilko’s branches in Swindon and one in Devizes were among 124 shops to close on Tuesday, September 19. The Wilko’s store in Chippenham will close on Friday, September 29.

Other retailers have already pulled out of the Castle Place shopping centre including Shaws the drapers, which also collapsed into administration, Mainlys Hardware, and a McColls convenience store near the entrance.

It is generally acknowledged that the Castle Place centre needs significant investment and new tenants to make it more attractive to shoppers.