Mystery property company in pre-auction swoop for vacant buildings in Grimsby's Riverhead Square

Under new ownership - the 'landmark' properties in  Riverhead Square   

A MYSTERY buyer has pounced  for a giant chunk of real estate in Grimsby's Riverhead Square.

Earlier this summer, North East Lincolnshire Council completed its project to refurbish the part of the square once occupied by a bus station.

But its initial hopes that initiative would spark regeneration of part of the town centre looked shaky when commercial property agents Scotts were unable to secure a buyer for various empty properties.

Specifically, these were five commercial units and the six-storey Imperial House office block which has planning permission for conversion to 24 self-contained apartments.

A decision was taken to auction the properties as a single lot in a sale being held by Acuitus in London last Wednesday.

But just hours before the Grimsby properties - lot 47 - were due to go under the hammer, a property company swooped, clinching the deal at significantly above the pre-auction guide price.

It is not known if it is a British or foreign company is involved, nor the price paid.

Despite its recent forays in commercial property investment, North East Lincolnshire Council is not believed to have been in the frame.  

But the dramatic events of last week have revived hopes that  a vibrant new future beckons for Riverhead Square if occupants can be found for the properties. 

Recent occupants included a children’s soft play centre, a gym & fitness studio, a bar plus a café/public transport hub.

Following their demise, the Worcestershire-based property company which had owned and managed these assets collapsed into receivership.

When the properties, which sit on 2.19-acres, were on the open market, they were being described by Scotts as a "landmark town centre repositioning opportunity".

Now it seems that some ambitious company  has not just recognised that "opportunity" but seized it.

                                         

NELC leader Cllr Philip Jackson (right) and cabinet colleague Cllr Stewart Swinburn in Riverhead Square earlier this summer. Their confidence in the regeneration project will have received a boost with news of the property deal.