Price tag on city centre edifice is dropped by £2m

BUT IT’S STILL HIGHER THAN FOR HOUSE OF FRASER AND DEBENHAMS BUILDINGS

- WILLIAM TELFORD

THE huge Plymouth city centre building that houses Tesco Express and TK Maxx has had nearly £2m slashed from its asking price after failing to sell.

The building, which fronts onto New George Street, Royal Parade and Bedford Way, went on the market in June 2022 for £6.31m but is now being advertised at a knockdown price of £4.5m.

It is in part of a larger block which British Land Company Plc – the property giant which owns Drake Circus Shopping Centre and the Barcode – paid £67m for and extends from Old Town Street and down to Armada Way.

In January 2022 it sold the disused Debenhams building, with an asking price of at least £3.5m, and in May 2022 advertised the House of Fraser building with an asking price of more than £4m.