Great Yarmouth's Market Gates shopping centre is up for sale for £4.5m.

Estate agent FMX Urban Property Advisors is seeking offers in excess of £4.58m for the town centre mall.

In 2013, it was bought by Ellandi for £28m.

The shopping centre spans more than 200,000 sq ft across three floors and attracts approximately 4.5 million shoppers every year.

The site has 40 shops and cafe outlets, anchored by B&M, Boots, Superdrug and Poundland.

FMX Urban Property Advisers – which has been appointed to market the asset – said the £4.58m asking price reflects a net initial yield of 13pc, and a capital value of £20.47 per sq ft.

READ MORE: B&M in Market Gates in Great Yarmouth to open in November

Market Gates was built in 1976 on an area which was damaged during the Second World War.

It incorporates a bus station underneath and a 357-space multi-story car park.

Last month, discount retail store B&M announced they will be moving into the mall, taking over the former Wilko shop which closed in September 2023.