Mercat to go on market

0111042 SSFF stock mercat'stock photo Kirkcaldy - entrance to the mercat shopping area, kirkcaldy
0111042 SSFF stock mercat'stock photo Kirkcaldy - entrance to the mercat shopping area, kirkcaldy
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KIRKCALDY’S main shopping centre is to be put on the market before the end of the month.

And business leaders and politicians are hoping a buyer can be found swiftly to take the Mercat forward and regenerate the town’s High Street.

Mercat Kirkcaldy Ltd (MKL) called in the administrators KPMG on November 10 last year after the centre’s owners and MKL parent company City Site Estates issued its annual report outlining serious financial difficulties.

Accountancy giants KPMG were appointed administrators for MKL, and this week they confirmed that the shopping centre, along with three shops on the High Street owned by the company, were about to be put on the market.

Normal

A spokesman for KPMG said: “Since it went into administration in November the Mercat Shopping Centre has been operating as normal, as have the three shop units on Kirkcaldy High Street.

“It will be put on the market before the end of the month to see if a buyer can be found.”

Welcoming the move, Kirkcaldy MSP David Torrance, said: “Hopefully they will find a buyer who will invest in the future of the centre and upgrade it.

“It would be great if they would take forward the expansion plans put forward by City Site Estates last year and regenerate the whole of the High Street area.”

Fair way

John Kilgour, vice president of Fife Chamber of Commerce, said: “Fife Chamber would be keen to see a new owner taking over who will operate in a fair way with the tenants that are in there to keep as many businesses as possible.”

Alice Soper, chairman of Kirkcaldy area committee, added: “Let’s hope that we have an interested party as quickly as possible and that they would hope to carry on the proposed redevelopment.”

Alan Paul, senior manager with Fife Council, said: “When the administrators have found a suitable purchaser for the Mercat, we will enter into more detailed discussions about their future plans for investing in the centre.”