Grantham’s The George Centre sells for £1.9 million as it goes under the hammer

The George Centre, in Grantham
The George Centre, in Grantham
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Grantham’s The George Centre has been sold at auction for £1.9 million.

The 23-unit shopping centre has been sold today (Thursday) at the London auction for £650,000 more than its £1,250,000 guide price.

The name of the new owner has not been released yet.

It is the second time this year the centre has gone under the hammer.

In May it was sold for £2.79 million when its guide price was a mere £950,000.

The centre, which houses retailers like Pizza Express, The Edinburgh Woollen Mill and the Teaspoon Tea Company, was listed as lot 30 in the sale.

It was sold by the pension fund, the identity of which has never been revealed, which has owned the premises for nearly a decade after buying it through international property consultants King Sturge for £5.4 million.