A MAJOR shopping centre blighted by empty store units has been bought over.
The Kingdom Shopping Centre in Glenrothes, Fife, is the biggest indoor retail space in the region.
It houses several chain stores, including Boots, Home Bargains and Game, but with the decline in the high street around 21 units have been left vacant.
It has been taken over by Focus Estate Fund, after a purchase was agreed with Mars Pension Trustees Ltd, as reported by The Courier.
Civic leaders hope the deal will be a shot in the arm for retail in Glenrothes town centre.
Campaigners have been calling for the building’s demolition over the past few years, branding it “Fife’s worst eyesore”.
Back in 2020, David Cooper, Futures Group secretary, said: “The building is a disgrace and an embarrassment to the town.”
Speaking today, Councillor Altany Craik, finance, economy and strategic planning spokesperson at Fife Council, said: “Hopefully this will enable the centre to turn a corner and get some development done.
“We need to find a way to get it dealt with and start investment.”
Jenny Gilruth, SNP MSP for Mid Fife and Glenrothes, has asked for a meeting with the new owners.
The education secretary said: “The Kingdom Shopping Centre is at the very heart of the community and serves as a central hub in Glenrothes.
“There is a real opportunity here to breathe new life into the centre and bring a welcome boost to the local economy.”
The Kingdom Shopping Centre is spread over a whopping 430,000sq ft.
Focus Estate Fund, based in Luxembourg, has recently started to invest in the UK’s retail sector.
The firm, which is run by Ukrainian businessmen, took over a shopping centre in Wrexham, north Wales.
The company has also branched out into mainland Europe, with retail interests in Italy, Spain, the Czech Republic, and Poland.
Focus Estate Fund has been contacted for comment.