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Ayr shopping centres enter administration 18 June 2013

The Kyle Shopping Centre in Ayr and the nearby Arran Mall have both entered administration.

The retail centres, owned by Cairnduff Developments Ayr Limited, suffered from decreasing levels of footfall and increased competition.

Paul Dounis and Ken Pattullo of Begbies Traynor were appointed as administrators on 7 June 2013.

Dounis said: “Like many regional towns, headline rental values for retail units have fallen dramatically over the last few years.

“These shopping centres have suffered from the fall in consumer spending combined with increased competition from other retail venues such as Ayr Central Shopping Centre, Heathfield Retail Park and
the Silverburn Mall in Glasgow.”

Both shopping centres will continue to trade as administrators seek methods to increase consumer footfall before seeking a buyer. The administrator has confirmed that no jobs have been affected by the administration.

Dounis explained: “We believe that with their excellent town centre location, both the Kyle Centre and the Arran Mall have appeal for local shoppers. We will continue to trade the centres while we explore the options for improving visitor numbers.

“This includes potentially reconfiguring the Kyle Centre to make it more attractive to shoppers and embarking on discussions with other large space retailers.”

The Kyle Centre features 27 shop units, comprising 95,00sq feet of retail space, as well as a newly redeveloped food court. The nearby Arran Mall features 22 units providing 42,000sq feet of retail space.

Dounis said it will be “very much business as usual” for consumers and store tenants, although “they can expect to see some exciting improvements over the coming months.”

 

 

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