St Austell’s town centre, which cost £75 million, is again for sale – this time for only £3.4 milion

Posted By on 5th April 2021

By Peter Tremayne

St Austell’s town centre is again for sale, barely a month after estate agents tried to sell it for £4.65 million.  The White River Shopping Centre is now coming under its next virtual hammer, in another online auction, this time with a guide price of “only” £3.4 million.  The next auction is scheduled for 15th April.

Two years ago the owners tried to sell the site for £10 million.  The plummeting price of retail property in Cornwall reflects the fundamental shift in shopping habits caused by the Covid pandemic.

Twelve years ago local councils and government agencies combined to spend £75 million to create the retail centre.  Much of the cash came from the former South West Regional Development Agency.

This article has 2 comments

  1. Another glaring example of Liberal Democrat business acumen as this monumental folly tanks.

    They have managed to turn this once prosperous and proud town centre into an urban wasteland of deprivation subsance abuse and poverty where a certain notorious Devon based developer appears to be running riot around its boundaries.

    The incumbent Lib Dem councillors meanwhile obsess about ”garden villages” while bulldozers obilterate wildlife at Baal and Carluddon on an olympian scale to make way for homes that few locals can even afford.

    Perhaps the voters in the wards concerned may care to ponder this when putting their X on their voting slip on 06/05/21.

    Maybe they will wisely conclude that it is time for change and send the councillors responsible packing.

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