A much-loved historical arcade in Bedford town centre, home to 35 independent businesses, is to be put on the market by its owners.
The Edwardian Old Arcade, which links the High Street and Harpur Street, was acquired by Padmanor Investments Ltd in June 2016.
Over the last decade, the family-run business has invested significant sums to turn the 20-unit Arcade into one housing 35 smaller spaces better suited to independent retailers and the changing retail landscape.
The sale is due to unforeseen family circumstances, leading the owners to consolidate their investments to create a smaller, more manageable business.
The home of Bedford indies
The Arcade is now home to everything from records to health food, bubble tea to gifts and jewellery to sweets, and is a mainstay of Bedford’s thriving independent scene.
It’s even home to Bedford’s oldest shop, Arcadia sweetshop, which celebrated its 120th birthday last year.
Read: Bedford’s oldest shop celebrates 120 years in service
“When we took on the Arcade, we made a very conscious decision to focus on local indie businesses,” said Stephen Davies, managing director of Padmanor.
“It’s now home to a great mix of long-term tenants and new businesses, and we’ve brought the upper space into use too.”
Beyond retail…
Through their period of ownership, and with the support of their appointed managing agents Kirkby Diamond, Padmanor has invested significant six-figure sums in the building fabric, both externally in the roof, gutters and drains through to the individual units themselves.
Many have been reconfigured and redecorated with new electrical supplies introduced to support the increasing number of businesses which call the Arcade their home, including IMPAKT Community Larder, which has its home in a former residential space.
“Much of our investment has been improving things behind the scenes – things you don’t notice when it works, but you definitely notice when it goes wrong,” said Stephen.
Among the more traditional tenants is POP STUDIO4, a working art studio run by Talia Giles of Pride of Place Bedford.
Read: Art sale and exhibition ‘with a twist’ at Bedford’s Old Arcade
Read: Behind-the-scenes at the Open Studio Big Weekender
“I’m proud of what we’ve done there,” Stephen told the Bedford Independent.
“I hope the new owners respect the vibrant mix of tenants – including the pop-up studio – and keep the legacy of the Arcade going.
You can find a list of all of the Arcade’s tenants here.
“After 10 years, we’ll be very sorry to see the Arcade leave our portfolio, but we’re very proud of what we’ve achieved during our tenure and hope whoever picks up the baton recognises the special place the Arcade is held by the people of Bedford.”
The Arcade is being offered at the next Acuitus commercial property auction on Thursday, 26 March at 1pm.
John Mehtab, investment director at Acuitus, said: “The auction process is a valuable tool for asset owners, especially of shopping centres, to find the market price for their property and market to a wide array of commercial property investors who regularly buy from our auction catalogues.
“As a firm, Acuitus have helped support sellers and successfully sold numerous shopping centre assets across the UK over the past 15 years, and we are looking forward to offering the Arcade at our auction next month.”
Update: This article was updated on 27 February 2026 at 10.52am. A line was changed to reflect the correct location of IMPAKT’s community larder.
