Commercial mortgage holders may see discounted prices after mall sale

07 February 2011

Written by Jeni Browne

Business property owners may consider taking out commercial mortgages for new purchases following news that one shopping centre has been bought at a discounted price.

According to the Scotsman, Ayr Central mall was taken on by a partnership between English and American investors for £33.8 million, despite being valued at £75 million.

London-based Sovereign Land was one of the purchasers and director of the firm Chris Geaves told the news provider he was interested in buying further real estate.

Area Property Partners, the headquarters of which are located in New York, was also involved in the deal and the Scotsman reported Scottish commercial property agents are hopeful that the US investment in the country's business real estate will increase.

Ayr Central shopping centre was established in 2006 and is the largest mall in Ayrshire in south-west Scotland, seeing 240,000 shoppers per week and considered one of the strongest retail facilities in the nation.

Find out more on our commercial mortgages and how we can help you achieve your aims - enquire online.