Savills has been appointed by joint administrators from KPMG and asset manager Centros to sell Houndshill shopping centre in Blackpool, Lancashire.
Savills secured the mandate to sell the 400,000 sq ft shopping centre for around £95m following a competitive tender.
The recently extended scheme is anchored by a 100,000 sq ft Debenhams and let to retailers including Next, Body Shop, River Island, H&M and Primark.
Houndshill shopping centre creates a rental income of around £7m pa, 95% of which is secured to national covenants and 75% of which is on leases greater than five years.
Modus Corovest, the vehicle set up by Manchester-based retail developer Modus to hold the Houndshill Shopping Centre in Blackpool, was placed into the hands of administrators at KPMG in June 2009.
annabel.dixon@estatesgazette.com
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