However, as footfall has dwindled businesses have deserted the 7,489 sq m mall, with Tesco pulling the plug in 2015, despite protestations from former local MP and UK Prime Minister Gordon Brown.
Situated just 70m off the local High Street, the mall boasts a 299-space car park and good transport links, according to the auctioneer’s website.
But the cost of the annual upkeep of the site is now thought to be higher than the £152,000 it generates from rent, prompting Columbia’s decision to sell.
“There is an urgent need for the Postings to be redeveloped, not only to reinvigorate the site itself, but as a key part of a composite town centre strategy to combat the raft of store closures Kirkcaldy has suffered of late,” said Ms Laird.
It follows a tough year for retailers, with a rash of big chains having announced closures because of lower demand.
Casualties have included Maplin, Toys R Us, Jamie’s Italian and Poundworld among others. Just this week Marks and Spencer named the next 17 stores it plans to shut as part of a reorganisation plan, having already earmarked 38 sites – including the Kirkcaldy branch – for closure.
Columbia Threadneedle said it viewed the Postings as a development opportunity and that the knock-down price tag had created a lot of interest.
“The reserve price of £1 is generating significant attention and we expect to get a considerable amount at the auction,” the company said.
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