The main shopping centre in Glenrothes could soon be up for sale, The Courier understands.
CIS/AXA, the owner of the Kingdom Shopping Centre, has said it is undertaking a “strategic review” of the complex, which could see it put on the market within weeks.
News of the review will come as a surprise, with the company having agreed a major deal with supermarket giant Tesco to develop part of the site at North Street.
However, in a brief statement to The Courier, CIS/AXA reiterated its commitment to the project, while confirming that its own future connection with the Kindgom Centre was under examination.
A spokesman said: “We are currently undertaking a strategic review of the Kingdom Centre and looking at a range of potential future options. However, we are committed to plans for a supermarket development, as well as other schemes to improve the town centre.”
Should the decision be taken to place the Kingdom Centre on the market, the effects could be significant for the town.
Tesco has frequently reiterated its desire to construct its proposed store at the site, despite planning technicalities having delayed the project since it was first announced two years ago.
It is not known whether any sale would jeopardise the agreement in place between CIS/AXA and the supermarket giant. However, the creation of around 400 jobs would depend on the development going ahead and a formal planning application is expected to be presented to councillors within months.
The Kingdom Shopping Centre houses more than 100 units and has fared better than most other retail centres during the economic downturn. The centre is also a frequent winner of awards, including two Green Apple awards for its environmental credentials.