Shopping centre set for boom
CRAIGAVON Shopping Centre was sold in January 1982.
Province-wide food chain Crazy Prices bought the centre after only a few weeks on the market and traders were very enthusiastic that the centre could now reach its full potential, resulting in the creation of 100 new jobs.
The deal was done with the DoE’s Lands Division for an undisclosed sum, but while the initial contract had been signed, it was expected to take a few months for the sale to be finalised.
Several parties had expressed interest in buying the centre, with Tesco rumoured to be among them, but the Lisburn-based firm were first to reach an agreement with the DoE.
The shopping centre had been planned in the early 70s but had only been opened six years previously amid complaints it had been built on the wrong side of the New City’s housing developments.
Sceptics had felt their criticisms were justified when some of the early tenants began a gradual pull-out from the centre, but low rent figures were seen as a major enticement in attracting new customers.
A major feature of the takeover was the possible creation of 100 new jobs - at the time the centre employed 130 - as the remaining unoccupied units were filled.
Traders were very enthusiastic at the prospect, with one saying: “Normally the shopping centre has between 20,000 and 50,000 customers per week, depending on the time of year. Now we see the possibility of attracting 50,000 plus every week.”
The centre was operating at 50-60 per cent capacity, but tenants were encouraged by reports that 10 firms had expressed interest in moving into the precinct as soon as possible.
This was to be a boom not only for new traders and existing tenants, but also for the local council. One trader said: “It will bring more rates into the borough and this will mean more money for the council.
“At the moment it’s the most economical centre to be in. Astronomical rates are charged in other centres, with Newtownards Shopping Centre’s rates six times higher than those at Craigavon and those at the Magowan Buildings are five times higher.”
Crazy Prices’ chairman and managing director told the ‘MAIL’ his company couldn’t disclose its plans for the centre but the centre’s tenants were optimistic, with one saying: “Trade has been steadily building up after a slow start and I think we are going to see a tremendous change in 1982. Things are not as bleak as they seem.”
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Sunday 12 February 2012
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