Building bought for £675,000

THE new owners of the former McEwens department store i n Pe r t h acquired the city centre property for £675,000.

A progress report filed at Companies House by joint administrators Tony Friar and Blair Nimmo of KPMG reveals the building was purchased by Panther (VAT) Properties Limited, a company based in Potters Bar, Hertfordshire.

The company is a subsidiary of AIM-quoted Panther Securities PLC, a retail, industrial and office properties group chaired by Andrew Perloff.

The veteran businessman i s also chairman of sister business Beales, the retailer that has taken over the McEwens building and started trading at the site earlier this month.

Despite the income from the completion of t he building sale in September — and more than £35,000 of rent paid between March 24 and September 23 by sub-let tenant Brook Taverner — the administrators do not anticipate all claims against the former McEwens business will be paid in full.