Welsh shopping centre up for auction

Bear Lanes Shopping Centre in Newtown is going under the hammer this month with a guide price of £1 million.

The shopping centre brings in £222,368 per annum in rent, while its 20 tenants include WH Smith, Nationwide, Superdrug, New Look, Peacocks, The Works, as well as local traders

The property, spanning 40,750 sq ft, was built at the site of the Bear Hotel in the town after it was demolished in the 1980s, with a rebuilt façade.

Bear Lanes Shopping Centre will go under the hammer on March 24 with Allsop auctions.

The auctioneer said: “The property comprises an unbroken shopping centre comprising 20 shop units with ancillary upper parts, two of the units interconnect with two units on the High Street which do not form part of the property to be sold.

“The property may lend itself to a variety of alternative uses and redevelopment, subject to obtaining all the necessary consents.”

Newtown is the largest town in the county of Powys and is located 13 miles south of Welshpool and 36 miles south-west of Shrewsbury.

The property has three entrances, from Broad Street, High Street and Back Lane.

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