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Three bidders in the ring for Cumbernauld T.C., but is a new owner immanent?

Written by Scott Campbell.
Published at 14:19 GMT on Thursday, May 16th, 2013.

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CUMBERNAULD Media can now reveal that there are three hats in the ring for the buy-out of Cumbernauld Town Centre. 

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.

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Last Thursday, however, one month from the day which we broke the story that Cumbernauld Town Centre had reportedly been bought over, we can reveal that three bidders are reported to be the running for the purchase of the centre.

The news follows an article in the Cumbernauld News and Kilsyth Chronicle which claims that negotiations are at an “advanced stage”, claiming that one bidder is “ready to pay up”. 

Administrators BDO have since told Cumbernauld Media that, “there is no further information available regarding Cumbernauld Town Centre”, however, what can be confirmed is that the hopeful buyer has no connection to North Lanarkshire Council.

Suggestions have previously been made – mainly from SNP MSP for Cumbernauld and Kilsyth, Jamie Hepburn – that the area’s local authority should snap up the oldest part of the Cumbernauld Centre complex, which is comprised of three parts; the Shopping Centre, the Antonine Shopping Centre, and the Town Centre.

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