Kirkcaldy shopping mall sells at 50% yield

A Scottish shopping centre put up for sale with a £1 reserve sold under the hammer at Allsop’s auction on 5 February for £310,000.

The Postings in Kirkcaldy was being sold by Columbia Threadneedle and was bought by a private investor, bidding over the telephone.

Bidding for the lot began at £10 in the room and took just a few minutes to reach its final sale price, which reflects a yield of 50.29%.

Speaking to EG just after the hammer fell, auctioneer George Walker said that the new owners were likely to repurpose the centre.