Basingstoke’s Festival Place Shopping Centre is up for sale from receivership.
Savills is marketing the long leasehold of the 1.1m sq ft centre on behalf of BDO.
Tenants include Marks & Spencer, Next, H&M, Superdrug, Apple, Nando’s, Sports Direct, Five Guys, TK Maxx and Vue Cinema, while asset manager Sovereign Centros has recently agreed new lettings to Superbowl and Hans Buffet. The scheme has a weighted average unexpired lease term of 5.76 years, with 4.36 years to the next break.
Savills said there is also “strong demand” for a former Debenhams store.
Mark Garmon-Jones, director of retail Investment at Savills, said the site “presents significant asset management opportunities, driven by strong tenant demand and performance”.
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