Former McColl’s newsagent and convenience store in Newmarket sold at auction
A historic building in Newmarket town centre, which has stood empty since a council inspector raised concerns about its safety, has been sold at auction for more than twice its guide price.
The former McColl’s newsagent and convenience store in St Mary’s Square closed in November 2021 when staff were sent home after concerns were raised about the structure of the Grade II listed building, leading to fears for the safety and welfare of the occupants of neighbouring properties.
On Thursday, the three-storey building, which was owned by a Harrow-based storage company, went under the hammer in a livestreamed auction with a guide price of £130,000.
It was purchased by an undisclosed buyer for £275,000.
Auctioneers Acuitus had suggested the property might be suitable for residential redevelopment subject to the appropriate planning permission.
The sale was welcomed by Newmarket mayor Cllr Philippa Winter who said: “I hope the new owners will follow all the conservation area and listed building guidelines to make this historic building pleasing to the eye and enhance the area.”
The same auction also saw the sale of a long leasehold on a property on the Studlands Park industrial estate, currently occupied by the Newmarket branch of Travis Perkins, the UK’s largest builders’ merchants, who hold the lease until November 2031 with an option to renew for a further 25 years.
The leasehold on the property, which has an internal floor area of 893 square metres, was sold for £1,240,000.
A third local property to change hands this week was the Mace Store and Cheveley Post Office on the village’s High Street.
The business had been run for the last seven years by husband and wife team Harj abd Jin Dosanjh, who have decided to focus on other investment opportunities.
The purchaser was Harry Sidhu, an experienced postmaster who adds the Cheveley business to two other successful stores.
Mr Sidhu said: “We are pleased to acquire this business and add it to our portfolio. We are looking forward to familiarising ourselves with the residents before looking to implement new ideas.”
The sale was handled by Christie & Co and the selling price has not been disclosed.