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A large part of Grimsby town centre has hit the market after receivers stepped in at a failed property company, immediately opening up a new regeneration opportunity.

Poundland’s former store and four further units fronting Osborne Street, as well as the large car park to the rear, are being sold.

Together they occupy 1.6 acres, sitting strategically between the town’s railway station and civic quarter.

With the bulk of the site having been a long-term lease opportunity since the relocation to the former BHS store by Poundland, it is believed the lack of rental income has led to the London-based single investment entity’s demise, with a guide price of £750,000 now put on the land and 23,000 sq ft of buildings.

Pan-Humber agent Clark Weightman and Sanderson Weatherall are jointly marketing.

Carl Bradley, director at the former, said: “The property has been on the market to let historically, but receivers have been appointed and we are now acting on behalf of them.

“It is quite an interesting site, it covers a big chunk of the town centre, and is shown in the local plan as being an 'opportunity site'. There is a lot of potential.

“We recognise there is a lot going on in the town at the moment, and while this site doesn’t form any part of the current Town Deal proposals, we will gladly talk to anyone about relocation or new uses. It can certainly form part of the overall regeneration and revitalisation of the town centre.