Castle Place shopping centre in Trowbridge sold for £1.2 million

The Castle Place Shopping Centre in Trowbridge was sold prior to auction for around three times its guide price of £400,000.

The identify of the buyer was not disclosed.

Sitting on a prominent 1.73-acre site on Market Street in Trowbridge, it was put up for sale in an Acuitus auction by its owners Nexus Properties Ltd.

The mall in Castle Place shopping centre. Photo: Trevor Porter 69818-2 (Image: Trevor Porter)

Richard Auterac, chairman of Acuitus, said recent weeks have seen more positive investor sentiment towards in-town shopping centres.

He added: “As this sale showed, buyers are more confident in the long-term prospects for assets across all the property sectors believing a pricing inflection point has been reached.

“Notwithstanding the latest Bank of England interest rate rise, this positive belief led to the strongest buyer interest across the board since last autumn.

“Part of the success was attributable to the quality of assets at this auction where prices have remained firm and transactions occur smoothly and quickly.

51-53 High Street, Warminster, was sold for £457,000. (Image: Freelancer)

“This is giving rise to more sellers bringing the higher quality assets to auction in order to capitalise on serious investor demand which remains unabated.”

The Acuitus commercial property auction on Thursday, May 18 raised a total of £19.05 million from the sale of the lots.

In the same auction, a Grade II listed retail property at 51-53 High Street, Warminster, occupied by Boots, sold for £457,000.

The Cornmarket shopping arcade in Warminster, which was also in the auction, did not sell and was withdrawn.

The Cornmarket shopping arcade, Warminster, failed to sell and was withdrawn post-auction. (Image: Freelancer)

The next Acuitus auction will take place on Thursday, July 13 and will provide online, telephone and proxy bidding.