Old Town arcade on the market for £1.5m

A LARGE amusement arcade in the Old Town is up for sale for a whopping £1.5 million.

Owned by Stade Development Limited, Old Town Amusements, 39-41 George Street, has been on the market for two years but interest from buyers in the 16,200-square property has risen significantly since the beginning of the year.

Located just off the seafront on George Street, Old Town, the property,which has planning permission for a restaurant, is located within the local conservation area and 41 George Street is Grade II listed.

Colin Brades, associate at Cluttons LLP estate agents in Brighton, said: “There have been a fair few enquiries. We are talking with a few parties who are interested. We are finding in general that with the recession it has been very quiet. It is only in this year, since Christmas there have been a lot more enquiries both regional and national.”

Ian Porter, secretary of the High Street Traders Association, told the Observer: I am aware that Old Town Amusements in George Street is on the market, but my opinion is that when, and if, a sale takes place, it is unlikely to have any significant impact on the economy of the Old Town.”