Falkirk business: Update on Howgate Centre sale

Future plans for the Howgate Centre in Falkirk are no clearer more than one month since it was sold.

Tuesday, 21st June 2022, 1:15 pm

However, it is understood key members of staff have already left the centre.

Bids for the shopping mall eventually reached £2.32 million when it went under the hammer at the Acuitus auction on May 18 after being put on the market by owner Ellandi.

The new owners of the 185,000 sq ft centre appears to be Belgate Estates.

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The Howgate Shopping Centre was sold at auction last month

The company is based in Glasgow and its portfolio also includes the Mercat Centre in Kirkcaldy and The Centre in Cumbernauld.

However, the Howgate is listed on the website of Gatehouse Property Management as being in its portfolio of properties it manages for clients.

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Howgate manager Suzanne Arkinson and marketing manager Margaret Foy no longer work at the centre according to staff.

The centre, comprising 56 units, has a current annual gross rental income of just over £1 million from occupiers including Boots, JD Sports, River Island, New Look and Wilko.

The centre opened in 1990 with the original tenants Boots, Woolworths and Argos.

Prior to the auction, Mhairi Archibald of Acuitus said the Howgate was “a good example of the type of shopping centre which is attracting entrepreneurial investors”.

Belgate and Gatehouse Property Management have been approached for a comment.