News Articles‎ > ‎

Has Cumbernauld Town Centre been bought over?

Written by Scott Campbell.
Published at 15:19 GMT on Tuesday, 9th April, 2013.
CUMBERNAULD Town Centre has been bought over, according to local rumours.

The oldest part of Cumbernauld’s centre-based shopping mall went under the gavel last year, after the complex’s owners went into administration.

At the time the centre’s owners went into administration Cumbernauld Media reported that “The building, which forms part of the complex once dubbed the ugliest building in the UK is up for sale at a healthy price tag of £3.5 million.”

The administrators appointed were BDO who declared they were looking for firms to invest in redeveloping the 270,000sq ft retail hub; looking for offers over £3.5 million.

According to BDO, the new owners will inherit a rental income of more than £1.2 million per year from businesses with outlets there including Lloyds TSB, Ladbrokes and Greggs.

More Cumbernauld news

Unable to find the associated list page.
The complex’s stint on the free market led many locals to beg North Lanarkshire Council and Campsies Centre Cumbernauld Ltd to buy over the originally publically owned centre.

Cumbernauld and Kilsyth SNP MSP Jamie Hepburn was one of the first voices to call on North Lanarkshire Council chiefs to put a bid in for the centre.

In November, he said: “The price that the administrators are seeking for Cumbernauld Town Centre suggests that a public bid, coordinated by North Lanarkshire Council, in conjunction with their arms-length Campsies Board who have been tasked with reinvigorating the town centre is eminently realistic.

“Such an approach would allow for a more joined up regeneration of the town centre, which is what everyone in the area is crying out for.”

Since the calls for the local authority to buy out the centre, a new owner is rumoured to have been found.

Cumbernauld Media attempted to clarify this suggestion and identify the centre’s new owners.

In a request to the centre’s administrators, BDO, we asked whether the rumours were true; who bought the complex and, at what price. Unfortunately BDO told us that “no further information” was available about the centre’s new owners.

Search for more news

Like us on Facebook

Contact the newsdesk