Exclusive: Buyer submits offer for Morecambe's £5m Arndale Centre

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The Arndale Centre in Morecambe which was up for sale for £5m is now under offer from a mystery buyer.

The centre owned by NewRiver REIT was put on the market in April by marketing agents Realla, who said at the time ‘it is an investment opportunity with a catchment area of over 197,000 people.’

Now on Realla’s website here it says the centre is under offer.

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The centre first opened its doors to customers at 10am on Thursday May 25 1972.

Morecambe town centre towards Arndale.Morecambe town centre towards Arndale.
Morecambe town centre towards Arndale.

It currently houses Iceland, Boots, Poundland and others.

Home Bargains left the centre on Christmas Eve 2021, while the Tesco store closed in 2015.

London-based NewRiver REIT took ownership of Morecambe’s Arndale Shopping Centre in a deal worth £14m in 2014.

The sale does not include the Travelodge, which NewRiver REIT sold to a private investor in 2019.

NewRiver REIT said: “Due to the ongoing commercial sensitivity we will not be providing any commentary at this time.”