The city's much maligned Anglia Square shopping centre is back on the market.

With a guide price of £8.5m the 11.4-acre site is looking for a new buyer after the previous £300m revamp was scrapped in February.

Property consultant Knight Frank has been appointed to market the redevelopment by owners Columbia Threadneedle, who bought the site for £7.5m in 2014.

Owners Columbia Threadneedle, bought the Anglia Square site for £7.5m in 2014Owners Columbia Threadneedle, bought the Anglia Square site for £7.5m in 2014 (Image: Newsquest)

Charlie Hart, head of development land at Knight Frank, said: "We're pleased to be offering Anglia Square for sale on behalf of Columbia Threadneedle Investments.

"It's been a priority asset for Norwich for more than two decades and despite the well-publicised withdrawal by Weston Homes earlier this year, we're very excited about the prospects for the property looking forward."

READ MORE: Developers told to reveal when landmark city building will be demolished

The previous buyers, Weston Homes, secured planning permission last spring to transform the 1960s built centre, with new shops, offices and up to 1,100 homes.

Sovereign House, attached to the Anglia Square siteSovereign House, attached to the Anglia Square site (Image: Newsquest)

However the company cited a "multitude of issues" for cancelling the project, such as having to make a £7.5m write-off on the scheme, due to the costs spent on the design, redesign and community consultation.

It also blamed the Conservative government, the switch away from office space due to the Covid pandemic and the nutrient neutrality directive, which blocked the building of new homes, for pushing up costs.

READ MORE: Company issue warrant to fit SMART METER despite claims family were at home all week

In 2020 it faced one of its biggest setbacks when local government secretary Robert Jenrick blocked the original granting of planning permission by Norwich City Council.

He shut down the proposals on the grounds that a proposed 20-storey tower - which was later dropped from the application - was of "excessive size in relation to its context".

Despite the setback owners say the area still has "significant potential" for any prospective buyer.

If a new developer does show an interest, the ageing buildings on the site, including the long-empty Sovereign House - will be costly to demolish.

Anglia Square, located in the city centreAnglia Square, located in the city centre (Image: Newsquest)