We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Bosses hoping for fresh start as Royal Arcade goes up for grabs

1 1 0

The winds of change are whipping through the Royal Arcade after it was revealed that the search is on for new owners.

Current owners Legal & General have put the site up for auction with a price tag of £1.25m.

And bosses of businesses in the arcade are hoping if new owners are found it could turn the tide of shop closures.

Wayne Hinton, who owns Marmalade Café in the arcade, said he was hoping a local buyer could be found for the property.

Shopping in Royal Arcade, Norwich.Picture: ANTONY KELLY - Credit: Archant

He said: "If we can get somebody local in it would really boost the tenants, particularly if they were to lower rents and get more people into the centre.

"If a local company was to purchase it and take it out of the corporate world a little, it would really make things better for us tenants."

If a new buyer is found it will be the first time in more than a decade that the arcade has changed hands.

Current owner Legal & General - which was approached for comment - has owned the site for 12 years before putting it up for sale via property auctioneers Acuitus.

Likewise, Matthew Stone, a sales assistant at Langley's Toy Store - one of the arcade's longest-running tenants - said he was hopeful a fresh start would prove a boon for the arcade.

He said: "I........

© Norwich Evening News

Get it on Google Play