CHATHAM'S Pentagon Shopping Centre is being sold to a mystery buyer. The huge shopping complex, a cornerstone of the town centre's commerce for 27 years, had an asking price of £55 million.

Now leaseholders Slough Estates have found a buyer and the deal will be sealed once contracts are exchanged. Mark Rymell, retail development manager, said: "This is a thriving business investment.

"The centre has been a good performance asset and is in good shape at the moment. But the market for shopping centres is very buoyant so at the moment it is a good time to sell."

The 325,000 sq ft centre, which has 90 shops was put on the market in September. Slough Estates, in Berkshire, received a number of offers, one of which has now been accepted.

Slough Estates is refusing to disclose the identity of the buyer until contracts have been exchanged and it is not yet confirmed when that will happen. It is also not disclosing the final selling price.

The Pentagon originally opened in November 14, 1975 as the first purpose-built shopping centre in Kent. It has been estimated that about 240,000 people visit it every week. Slough acquired it in 1989 and refurbished it.