Dundee's Wellgate shopping centre sold for £1.4 million at online auction

dailyrecord.co.uk:

Dundee's Wellgate shopping centre has sold at auction for almost three times its asking price to an as-yet-undisclosed buyer.

Earlier this month we reported that the centre was to go under the hammer with a guide price of just £500,000. However, the landmark has sold for almost thrice that amount at £1.4 million - more than the centre brings in a year, on average.

The Wellgate was sold by online auction house Acuitus, which teased that the centre could benefit from "future redevelopment for a variety of uses".

Its new owner has also taken over the centre's 586-space car park - giving them 50,000 square metres of development space to play with.In the past, plans have been floated to introduce a cinema to the Wellgate in order to improve