Avison Young has been appointed to sell the Alhambra Shopping Centre in Barnsley town centre on behalf of LPA Receivers for a sale price of £10.5m.
Purpose-built in 1991, the Alhambra Shopping Centre has 40 retail units, which are almost all fully occupied. The popular centre is home to some of the high-street’s biggest brands, such as Primark, Wilko, Poundstretcher, The Entertainer, EE and Iceland, and is the principal retail centre for the Borough of Barnsley.
James Yates, director at Avison Young, said: “Due to its well-connected town centre location and well-suited retail offering, the Alhambra has a strong local catchment, with the people of Barnsley tending to shop locally resulting in consistent footfall for the centre.
“There are numerous opportunities for further investment and asset management which would enhance the scheme and help to position it centrally within Barnsley Metropolitan Borough Council’s wider vision for the town centre.
“This is an excellent opportunity to acquire a very well occupied scheme with opportunities to increase and diversify the tenant mix, and offering more leisure amenities such as a gym, medical operator and food and drink outlets, increasing dwell time in the centre and thus footfall.”
Cllr Sir Steve Houghton CBE, Leader of Barnsley Council, said “The Alhambra has been a vital part of our town centre since it opened in 1991 and is much loved by our residents and visitors.
“As a council, we are very supportive of businesses and key private-sector asset owners in the town centre. For this reason, we have been working jointly with the fixed charge receiver of the Alhambra over the last few months to explore options for long-term sustainability of the centre.
“The confidence they have in finding a new owner for the Alhambra reflects the vibrancy of our town centre and the high footfall and spend we have seen in the town centre both pre and post-pandemic. The retail offer in the Alhambra remains strong and the broadening of options of use for some of the unused space would complement the wider mix of uses we are already seeing in the town, particularly the opening of the new NHS Community Diagnostic Centre in The Glass Works.”
Matt O’Neill, executive director of Growth and Sustainability for Barnsley Council, said: “We are keen to welcome a buyer for the Alhambra who is looking to invest in the town centre and be part of Barnsley’s thriving economy.
“Barnsley is open for business, with our central location, excellent links to major road networks, digital connectivity and attractive quality of life offer. Interested buyers can contact us to learn more about the plans for the town centre and wider borough, how they might embed themselves in the town centre’s business community and the promotion of the town centre to visitors and residents going forward.”