December 4, 2020 11.03 am This story is over 41 months old

Grantham shopping centre sells at auction for £1m

Sold on for the third time in five years

A shopping centre on Grantham High Street sold at auction for £1,010,000, but it’s unclear who or what the new owners’ plans are for the building.

The George Centre, part of a Grade II listed building, was sold just three years ago, but was put back on the market before going under the hammer on November 26 at an auction organised by SDL Property Auctions.

There are 40 retail units, six office suites, 41 car parking spaces and one storage unit within The George Centre.

The centre, which retains the Georgian facade of the former George Hotel, had a guide price of £950,000. It sold for more, despite the centre seeing a third change of ownership in under five years.

It used to be home to businesses such as Pizza Express and Feelgood Fitness, but both closed their doors during the COVID-19 lockdown earlier this year.

The three-storey centre is steeped in history, incorporating the old George Hotel which was built in 1780. The property was significantly remodelled in the 1990s when it was converted into a shopping centre.