City's shopping centre goes up for sale

The Lanes shopping centre in Carlisle is being marketed for over £15m

A major shopping destination, which is in receivership, has been put up for sale.

The leasehold for The Lanes shopping centre in Carlisle, Cumbria, is being marketed for almost £16m by its receivers Cushman & Wakefield.

A receiver may take possession of property for its protection, or for the redistribution of its assets, and is often appointed as an alternative to bankruptcy.

The Lanes Shopping Centre said it would not be in a position to comment until Monday.

The shopping centre made £1.9m a year and last year, footfall was 7.2 million, the real estate company Savills said.

Located in the city centre, its tenants include Primark, Next, Superdrug, New Look, River Island, Costa Coffee and Lush.

Its long leasehold interest is being is being marketed by Savills on behalf of joint receivers Jemma McAndrew and David Eden, who are from real estate company Cushman & Wakefield.

It is looking for offers in excess of £15,740,000.