A shopping centre has been put up for auction with a starting price of £1 in a move underlining the crisis facing retail landlords.
Columbia Threadneedle Investments, the large City fund manager, is selling the Postings Centre in Kirkcaldy, Fife, on behalf of a pension fund.
The shopping centre receives £152,005 rent each year but 13 of its 21 shop units are vacant as a result of retailers pulling out of the town or closing down. Tesco quit as the centre’s anchor tenant in 2015.
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