Forum Shopping Centre in Cannock going under the hammer for £3 million amid shoppers plea

The 29,000 square foot centre which boasts stores such as Wilko, Clintons and Shoe Zone is going under the hammer.

It is expected to reach between £2.9m and £3m, with the new owners expected to earn around £330,000 per year in rent.

The Forum forms part of Cannock Shopping Centre and is based off Market Street.

Currently Shoe Zone, Clarks, Clinton Cards, Wilko, Bonmarché, Warren James, Thomas Cook and Dorothy Perkins all occupy units in the centre, with a further unit under offer and another currently vacant.

Conservative Cannock Chase MP Amanda Milling hopes that the potential new owners of the shopping centre will be able to bring more shoppers to the town centre in conjunction with the recently approved Mill Green Designer Outlet Village.

She said: "New owners could be very good news for Cannock because it means new ideas and new investment coming into the town centre.

"Should the centre be bought it would demonstrate that there is a willingness to invest in Cannock and be a sign of the retail sector's confidence in Cannock Town Centre as a shopping destination.

With the Mill Green Outlet Village coming to Cannock, there is a real opportunity for the new owners to capitalise on this development and bring more shoppers to the town centre."

Councillor George Adamson, the leader of Cannock Chase District Council, admitted he was surprised by the sale of the site but said it was part of an ongoing interest from developers in the town centre.

He told the Express & Star: "It surprises me, I had no idea about it being put up for sale. But at that price and with that annual rent it looks like a good investment for somebody. Hopefully this will secure the future of the forum for years to come.

"This news is like an offshoot for Mill Green which was announced this week. We have had lots of interest in our town centre from developers and hopefully whoever buys The Forum will invest further in Cannock town centre."

Shoe Zone is currently biggest rent payer in the centre, coughing up £52,500 per year. Clarks pays £54,500, Bonmarché £52,500, Clintons Cards £45,000, Wilko £40,000, Dorothy Perkins £40,000, Warren James £25,500 and Thomas Cook £20,000.

These all add up to an income of £330,000 per year for owners of the site, although this has the potential to increase with the two empty shops – one of which is currently under offer.