Shopping centre reportedly sold for just over £1 million

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Falkirk’s Callendar Square Shopping Centre was reportedly sold yesterday for just over £1 million.

It seems the building which has been owned by London-based Ellandi, the firm which owns Falkirk’s Howgate Centre, since 2015 has now changed hands, although the new owners, thought to be another London-based company called Cygnet Properties and Leisure PLC, have not yet come forward to confirm this.

The Falkirk Herald contacted Glasgow-based Vine Property Management to get confirmation on the sale and find out who purchased the three-storey centre, located in Callendar Riggs at the east end of Falkirk town centre, but was told by a senior property manager there would no comment on the matter at this time.

The shopping centre has had a troubled history since it was built by Central Regional Council back in the late 1980s.

Designed to replace the Callender Centre built in the 1960s and demolished in the late 1980s, construction work, which began in 1989, had to be halted when contractors Rush and Tompkins went into receivership.

For over two years the half-built centre was an eyesore before a rescue package was put together.

The regional council underwrote the deal to the tune of £13 million and the centre eventually opened in November 1993 by which time building costs had reached £22 million.

It was bought from the council by Guernsey-registered Callendar Property Holdings Limited in 2005 and was subsequently taken over and run Propinvest before it was sold to Ellandi.