The manager of Royal Quays Outlet shopping centre has stressed that it is ‘business as usual’ while a buyer is sought for the North Tyneside complex.
It was revealed yesterday how the North Shields shopping centre and its 55 units has been put on the market with a £4m price tag, after going into receivership. Daniel Hardy and Peter Loveday of commercial property consultancy Sanderson Weatherall LLP were appointed as receivers over the centre by a bank, as mortgagees.
The receivers said they replace WD Limited, which managed the Royal Quays on behalf of the owners – North Shields Investments Properties Limited, an overseas entity registered in Jersey. The receivers said they decided it was “appropriate to terminate WD Limited’s involvement and appoint Sanderson Weatherall’s Newcastle office to manage it more strategically”.
