Refurb plans after retail centre sold.
INVESTOR Benson Elliot has bought the Mander Centre in Wolverhampton for PS59 million and is expected to press ahead with a multi-million pound refurbishment.
The centre was put up for sale for a reported PS50 million in May and a PS30 million revamp is planned to bring it up to date after buying it from Mander Investments.
The company, which recently bought Eleven Brindleyplace, confirmed it would undertake a major multi-million pound refurbishment of the existing 620,000 sq ft centre, providing space to attract a range of exciting new retailers.
Wolverhampton's >Mander Centre The Mander Centre currently comprises more than 100 retail units, including Boots, BHS, JD Sports, New Look, Starbucks, Clarks, H Samuel, The Entertainer and Costa Coffee.
The redevelopment will be anchored by a 90,000 sq ft Debenhams store, which will trade over three floors.
The new deal will see the return of the iconic Barbara Hepworth sculpture, Rock Form, to Wolverhampton.
Peter Cornforth, director of retail at Benson Elliot, said: "We are delighted to have completed this acquisition, and are now looking forward to working with Wolverhampton City Council, the local community and our retailers to progress the planned refurbishment of the Mander Centre."
Councillor Peter Bilson, Wolverhampton City Council's cabinet member for economic regeneration and prosperity welcomed the sale.
He said: "It's a clear sign of the progress Wolverhampton's making."
Wolverhampton's <BMander Centre
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|Publication:||The Birmingham Post (England)|
|Date:||Dec 4, 2014|
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