Horsham District Council (HDC) has just announced that it has purchased the Forum for £15m as an investment for the town. The ‘Forum’ includes the retail units including Dunhelm, T K Maxx, Bensons for Beds and Blacks. It is also taking control of the car park. It’s not clear whether Esquires Coffee House and all that land is included in the deal though it does refer to potential development of the Piazza which may have been under HDC ownership already.
It is hoped that the investment will bring in an income of £780,000 per annum so breaking even in about 20 years assuming no outgoings. 20X profit is a typical benchmark price when selling a business.