Nuneaton’s largest mall is ‘down’ after being put up for sale. According to real estate websites, the Ropewalk Mall is “under offer” after it comes on the market.
The shopping centre, which opened in September 2005, is on land owned by Nuneaton and Bedworth Borough Council. CoventryLive understands that the sale of the huge building is imminent.
The shopping center was built on land formerly occupied by the Queens Arcade, part of the old Dugdale Street car park and the former Merevale pub.
Read more: Final phase of closures on the A444 at Nuneaton delayed as part of lengthy bridge works
The center, like so many others across the country, has been hit hard by the pandemic.
It lost big names such as TopShop, River Island, Monsoon and HMV.
Additionally, as we reported in our newsletter, JD sports also gave up on opening a branch in the mall last year.
It also lost its flagship store, which was a BHS and, more recently, a TJ Hughes. This large unit has stood empty ever since.
Who owns the center?
A company called Broadway Capital, owned by Irish investor and property developer John McCann, originally owned the centre.
Then, in January 2010, the Bank of Ireland took control of the mall after the company went into liquidation.
BTW Shields has been appointed by the Bank of Ireland to manage the mall.
According to retail website Realla, the shopping center generates nearly £1million in gross income a year and a net income of £205,585 a year after deducting main rent and landlord sunk costs.
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