Blackpool's Abingdon Street Market is up for sale

A guide price of £1.5m has been put upon the buildings by agents Acuitus.

Stall holders were alarmed when for sale signs went up and were left wondering what its sale might mean for their businesses.

The property, which underwent a refurbishment in 2012, is currently owned by TCS Holdings of Leeds.

One of the stall holders, Simon Gill of Skin Image tattoo studio, said: “We just came in this morning and found for sale signs on the outside.

“They might have told us. Everyone here is worried and just wants to know where we stand.

“The concern is that with all the property development that is going on in town , they might do something different to the market.”

But a spokesman for the agents selling the premises, said any sale would likely just mean a change in landlord since it was a viable business providing a good return for the owner.

The sale is of the 53 stall indoor market and separate surrounding shops and offices between numbers 6 and 24 Abingdon Street.

The agents said it also includes shops let to national tenants including Sense and Card Factory, with separately let offices, all on various leases, producing a combined annual rent of £323,147.

David Margolis of Acuitus said: “The collection of property around Abingdon Street offers Blackpool a variety of shopping and for a buyer, an excellent income return with an opportunity to enhance this with strong asset management potential.

“Close to the town’s traditional prime retail pitch on Church Street, the property comprises a substantial piece of real estate which offers a substantial cash flow and a very generous income return on your investment at a time when interest rates and other forms of investment media are at historic lows.”

The locally listed market, with its mock-Tudor facade, was built in 1862 by TH Smith who built parts of the Winter Gardens and was originally a police station.

It was extended in 1880 to become the police station for the borough. Then in 1928 it was converted into the market.

The £200,000 revamp in 2012 was funded with the help of a grant from Townscape Heritage Initiative through Blackpool council and the Heritage Lottery Fund.

The auction will be held at the Montcalm Hotel in Marble Arch London on Thursday March 26.

Visit www.acuitus.co.uk/property/3818/ for more details.