A derelict indoor shopping market in Chatham High Street has been acquired for £2.87 million, it has emerged. Aylesford-based TBH Real Estate Investments Ltd bought the former Trafalgar Centre and the multi-storey car park behind the disused building last June. It is understood that National Car Parks (NCP), who operates the multi-storey car park in Rhode Street, continues to own the leasehold of the 50,000 sq ft property. Trafalgar Centre permanently closed in December 2013 due to 'safety concerns' and has stood empty ever since. Built in the early 1960s, Trafalgar Centre was initially a Fine Fare supermarket until its closure in 1987. The building later became an InShops indoor shopping market in around 1990, which was occupied by several independent small businesses. The InShops complex was anchored by a fast food dining area and a Kwik Save discount supermarket until the early 2000s, before rebranding to Trafalgar Centre. InShops Centres Ltd entered liquidation in January 2014, after experiencing significant financial losses as a result of declining occupancy levels and rising costs. Property consultants Blackstanniland marketed the property's sublease in 2015 on behalf of NCP, who owned Trafalgar Centre at the time. Medway Council's latest Chatham Town Centre Masterplan suggests the site and its surroundings could be appropriate for a new 'Creative Hub' with arts & culture facilities, cafes, restaurants and student accommodation.
No plans for Trafalgar Centre have been revealed yet. Attempts to contact TBH Real Estate Investments were made, however, no response was received. NCP declined to comment on the acquisition. Comments are closed.
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August 2023
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