Tamworth Borough Council takes over Ankerside Shopping Centre
Council Takes Charge Of Town Shopping Centre
The shopping center is located close to the historic Tamworth Castle and its surrounding grounds.
BBC News, West Midlands
Tamworth Borough Council has announced that it has successfully finalized an agreement to acquire the Ankerside Shopping Centre.
The ownership transfer was agreed upon by both parties, and the deal was finalized on Friday, as stated by the authorities.
The former owner, REI Nederland B.V., handed over the shopping center to the council without any financial exchange, according to reports.
Councillor Nova Arkney, who oversees the local economy, stated that the council is making efforts to facilitate an easy change for tenants.
On Friday, the council assumed control of the lease at Ankerside Shopping Centre.
"We are dedicated to creating a town center that is ready for the future. This initiative aims to offer support and confidence to both Ankerside tenants and shoppers while also ensuring that the shopping center remains a vital part of our town center for years to come," Ms. Arkney expressed.
“We're excited to enhance the center and are working with NewRiver, a prominent company that specializes in owning and managing retail spaces, to make this happen.”
REI Nederland B.V announced that it had collaborated with Tamworth Borough Council for the last two years to finalize an agreement that allowed the council to secure the lease for the center, after previously owning the freehold of the property.
"A spokesperson stated that since both interests are now under one party, the council is ideally positioned to oversee the shopping center as it moves forward in its asset management process."
Council leaders have announced their intentions to revitalize the shopping center.
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