Festival Place Shopping Centre in Basingstoke Listed for Sale

Festival Place, one of the largest shopping centres in the UK and a major retail and leisure hub in North Hampshire, has been put up for sale. The long leasehold interest in the property is being marketed by leading real estate advisor Savills on behalf of receivers BDO.

Spanning an impressive one million square feet, Festival Place serves as a central shopping and leisure destination, offering a variety of experiences for visitors. It is home to over 200 retail and catering brands, anchored by major retailers including Next and Marks & Spencer, and features a 10-screen Vue Cinema. Attracting 22.5 million visitors annually, Festival Place serves a catchment area of 1.3 million people and is strategically located in Basingstoke town centre, close to 11,500 office workers.

The long leasehold interest in Festival Place is now available for sale, with Savills appointed as the agent to manage the process. The sale is being conducted on behalf of receivers BDO, suggesting the property may have experienced financial difficulties. The freehold interest remains unaffected by the sale, and details regarding the specific sale price and timeline have not been disclosed.

Despite being listed for sale, Festival Place continues to expand its portfolio of tenants. Recent additions include Superbowl UK, which has secured a 16,750 sq ft space featuring 10 bowling lanes, soft play areas, and interactive darts, and H&T, a national pawnbroker, which has signed a lease for a 1,251 sq ft unit in Chelsea House. These new tenancies demonstrate the ongoing attractiveness of Festival Place to businesses and its continued status as a thriving retail and leisure location, even as its ownership is set to change hands.