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Bouverie Place in Folkestone goes on sale with £25 million asking price

A popular shopping centre is up for sale for £25 million, Kent Online can exclusively reveal.

Bouverie Place, which sits in the heart of Folkestone town centre, has gone on the market as a going concern.

Although there will be no official announcement regarding the sale, bosses are currently seeking potential investors interested in purchasing the mall.

Bouverie Place in Folkestone. Picture: Wayne McCabe
Bouverie Place in Folkestone. Picture: Wayne McCabe

It is understood no changes will be made to the precinct, with all stores remaining open.

A source, who wished to remain anonymous, said: "They are selling the shopping centre as an asset.

"The new owners will get all the income from the current tenants. It is on sale now with a stakehold price of £25 million.

"There will be no official announcement and the sales particulars will be sent to potential investors.

"We believe it is fully occupied and everything will stay the same as far as shops are concerned."

Bouverie Place was built in 2007 and includes 26,500 sq ft of retail space, plus a 570 space multi storey car park.

Peacocks recently left the shopping centre
Peacocks recently left the shopping centre

It currently attracts up to 100,000 shoppers a week and is home to stores including Primark, Deichmann, Asda, Specsavers and New Look.

Food outlets include Subway, Burger King and Starbucks.

In the last year fashion stores Next and Peacocks left the centre, with Choice and JD Sports filling the units.

The shopping centre was acquired by real estate investment company Tristan Capital Partners, in 2013 for an undisclosed sum in a joint venture with retail asset manager Ellandi.

Sale information is to be distributed by KLM Retail, a retail and leisure property agency.

The management team at Bouverie Place declined to comment further on the sale.

When approached, Folkestone and Hythe District Council confirmed they would not be interesting in the purchase.

A spokesman said: "We are not looking to invest in retail at this point in time."

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