The Oakgate Group, one of Yorkshire's fastest-growing property development and investment companies, has secured a deal to buy the Newgate Centre in the heart of Bishop Auckland, Co Durham.
Wetherby-based Oakgate, which bought the popular Newgate Centre for more than £8 million from Asda, saw off stiff opposition from 40 othe bidders.
The Newgate Centre, which is enclosed in the middle of the historic market town, comprises 76,600 sq ft of prime retail space. It has just undergone a comprehensive refurbishment programme, costing more than £2.5 million, which has resulted in a modern shopping environment.
The centre will soon be anchored by a new 30,855 sq ft Wilkinson's hardware store, replacing an Asda, which relocated its store at the end of last year. Other tenants include Greggs, Evans, Dewhurst Butchers, Northern Rock and Argos. There is also car parking, with space for 300 vehicles and good pedestrian links into the town centre.
Updated: 09:22 Tuesday, November 25, 2003
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