Castle Quarter still up for sale a year after hitting the market.

A buyer for Norwich’s Castle Quarter shopping centre has yet to be found nearly a year after it was listed for sale.

Castle Quarter was listed on the market for £23.55 million in October of last year.

Nearly a year after being listed for sale, Castle Quarter has struggled to find a buyer. (Image: Savills.) The shopping mall has 75 retail and leisure shops, with notable tenants including TK Maxx, Vue Cinema, and Boots.

It covers more than 385,000 square feet on five levels and generates a net operating income of £2.5 million each year.

Savills, acting on behalf of the joint LPA/Fixed Charge Receivers, is seeking offers in excess of £23.55 million for the city shopping and entertainment complex.

The facility also features 791 parking spaces distributed across three floors, which account for 42% of its gross revenue and earn £1.5 million in net operating income.

Savills’ director of retail investment, Toby Ogilvie Smals, stated, “Castle Quarter, with its prime location and secure income, offers investors a rare opportunity to acquire a high-quality asset as yields harden in anticipation of future interest rate cuts.”

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