The Princes Mead Shopping Centre, located in Farnborough, Hampshire, is currently up for sale at a reduced price of £17 million, according to Property Week. Previously acquired by Knight Frank Investors in 2011 for £26.3 million, the centre spans across the borders of Hampshire, Berkshire, and Surrey and features a covered retail space of 96,131 sq ft. In addition, there are eight units offering an extra 20,698 sq ft of retail area, along with two retail warehouse units, totaling 32,000 sq ft, currently leased to Decathlon and Smyths Toys. With an impressive occupancy rate of 85%, Princes Mead is home to well-known retailers like Sports Direct, JD Sports, Clarks, M&Co, Yours, Boots, and The Body Shop.

Montagu Evans has been appointed as the selling agent for the centre, with an asking price that could generate a net initial yield of around 8.94%. The estimated gross and net income for the entire property amounts to approximately £2.142 million.

The decline in footfall and sales at regional shopping centres has been evident even before the onset of the pandemic. To combat this trend, many centres have undertaken regeneration and redevelopment projects to ensure they remain relevant and integral to their local communities. As Princes Mead looks for a new owner, it will be intriguing to discover what plans they have in store for the future of the centre.

For more information on the Princes Mead Shopping Centre, please visit examplelink1. To explore Montagu Evans and their role as the selling agent, check out their website at examplelink2.