Talks with tenants
New owner pledges revival for ‘£1’ Postings centre
Tahir Ali: ‘we aim to add value’
The new owner of a rundown Fife shopping centre, put up for sale with a reserve price of £1, said he is in talks with potential new tenants.
Tahir Ali, of Evergold Property, paid £310,000 for The Postings in Kirkcaldy which was put up for auction by pension fund Columbia Threadneedle.
Evergold, a property development, asset management and property maintenance company, will rebrand the outlet as the Kirkcaldy Centre.
Mr Ali said the firm had 20 years’ experience in the commercial and residential property sector. “We are all about adding value to properties, communities and masterplanning sites to ensure the most productive outcomes can be achieved for the Local Authorities and other partners that we work alongside,” he said.
“Our aim is to reposition and revitalise this centre to the benefit of the local community. There are some attractive units here with an existing footfall averaging 15,000 people per week and we are already in advanced discussions with various operators for the large unit formerly occupied by Tesco as well as entering into discussion with prospective tenants offering a range of goods and services that serve the local community.
“We have had productive discussions with Bill Harvey, BID Manager at Kirkcaldy4All, about our shared interest in the promotion of Kirkcaldy town centre as a place where people want to work, shop and spend their leisure time and have started a positive dialogue with the Council about addressing the outstanding issues relating to the rear staircase entrance on Hill Street, which we hope to resolve in the near future.”
The 80,620 sq ft Kirkcaldy Centre is situated on a three acre site near to the town’s pedestrianised High Street. Comprising 21 shop units and a 304 space car park, existing tenants include Farmfoods, Lloyds Pharmacy, Stephens Bakers and Fife Council.
Evergold Property has now instructed Shepherd Chartered Surveyors to offer 14 vacant shop units, ranging from 700 sq ft to 53,155 sq ft, for lease. A majority of the units benefit from the Business Rates Bonus Scheme meaning that, once occupied, no business rates would be payable.
Bilal Ashraf, commercial surveyor in the Dunfermline office of Shepherd Chartered Surveyors, said; “The new owner has brought a fresh new vision to this centre and we are actively seeking to secure tenants for the vacant units to help revitalise the retail offering in Kirkcaldy city centre.
“The new owner understands the challenges ahead and, with his vision and our expertise in the local and national markets, I am certain we can work together to make the Kirkcaldy Centre a great success.”