Auctioneer says vendor accepted the lot was not worth the £5m it was guided at when it failed to sell in July auction.
At Allsop’s July commercial sale, the shopping centre received bids up to £4.9m, falling short of its guide price. At last week’s sale it achieved the revised £4m guide price, its sale reflecting a 17.8% yield.
The Trident is a 128,000 sq ft, 31-unit centre that generates £714,552 per year in rent and is partly vacant. It was previously sold by Allsop for £3.2m in 2014 to Atlantis Group.
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