Forfar’s former M&Co store has been knocked down for a bargain price at auction.
The East High Street premises is one of Forfar’s largest town centre shops.
But it has lain empty since the clothing firm collapsed into administration in 2022.
A potential buyer now looks to have snapped up the million pound property for a fraction of that price.
The shop, near the junction of Couttie’s Wynd, was offered at auction this week.
Bidding started at around £150k.
And there were eight offers before the timed auction ended with a top bid of £259,500.
The property at 54-72 East High Street was a described as a prime retail opportunity.
It covers £22,200 sq. ft. over two storeys. There is also car parking to the rear.
And the building previously sold for £1,005,000.
The sellers said it could be used as a whole or easily sub-divided into four units for leisure, office, health or retail use.
Predicted annual rental was put at around the £80,000-a-year mark.
Huge store in prime location
Locals and other town centre businesses will be hoping the deal will go through and herald a new era for the building.
It would also mark a new chapter for the part of East High Street where The Regal cinema once stood.
Retail development took place after the devastating blaze in July 1987 which destroyed the 1930s picture house.
The fashion store incorporated the adjacent shop previously owned by the Co-Op.
M&Co appointed administrators for a second time at the end of 2022 having previously collapsed in 2020.
It was subsequently bought by AK Retail Holdings, which owns Yours Clothing.
However, the purchase did not include physical stores.
So it meant the sprawling Forfar shop has lain empty since the high street name pulled out.
M&Co also had stores in Broughty Ferry, St Andrews, Blairgowrie, Perth, Glenrothes and Montrose.
Forfar swimming pool sale
The same online auction also saw a single bid submitted for Forfar’s old swimming baths.
An offer of £48,000 was made for the C-listed building at The Vennel.
Angus Council closed the pool in 2017 after new facilities were created at Forfar community campus.
But it has lain empty since then.
The authority finally offloaded the old baths for £53k to an Edinburgh-based property firm.
And five months later a police raid uncovered a major drugs operation inside.
Two illegal Albanian immigrants were each jailed for three years at Dundee Sheriff Court for their part in the near £200k cannabis farm.
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