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Former Spalding department store generates some interest on property market

The agent who is marketing a former Spalding department store says it has attracted some interest.

Whybrow Chief Executive Ewan Dodds says that he is optimistic about gaining a sale or letting for the formerBeales store.

The Market Place store closed earlier than anticipated in March after the company went into administration.

For sale sign has gone up outside Beales in Spalding (40987406)
For sale sign has gone up outside Beales in Spalding (40987406)

Mr Dodds said the store went onto the market at the start of the summer.

He said: "There is a little bit of interest and we are optimistic that we can generate a letting or sale of the property."

The store, which was built in 2004, is currently on the market for sale or to let.

The ground floor is 13,475 sq ft and also boasts a first floor open plan sale area.

It also has two entrances along with escalators and a small service yard and loading area.

Mr Dodd said that the property is available as a whole or in parts.

He said: "It is quite a flexible property that could be broken up potentially into smaller properties.

"There has been a reasonable amount of interest given the time of year. We are optimistic that we will find an occupier for the building but it really is early days."

The news has been welcomed by Gary Taylor, South Holland District Council's portfolio holder for communities and facilities.

He said: "Any interest in turning that building into a new business or venture would encouraging as it is a large shop in the town centre.

"It is encouraging news and hopefully it will be brought back into a good use soon for the benefit of the town centre."

A total of 15 members of staff were made redundant earlier this year when the store finally closed its doors in March.

Beales, which had been founded 140 years ago, was reported to be in trouble in January when the BBC reported that it was in talks with two potential investors.

Later that month the Spalding store was one of 23 sites listed for closure on the Beales site.

Will Wright and Steve Absolom from KPMG Restructuring were appointed joint administrators to Beale Limited and J E Beale Plc ("Beales") on January 13.

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