Tamworth Council takes over major shopping centre | TheBusinessDesk.com

The ownership of Ankerside Shopping Centre in Tamworth has been handed over to Tamworth Borough Council for no cost.

On November 29, Tamworth Council gained control of the venue by acquiring the long-term lease, which complements their existing ownership of the property.

The project will collaborate with NewRiver, a real estate investment trust, to create a center covering 200,000 square feet. The center will feature well-known retailers such as Boots, Iceland, Poundland, Bodycare, and Pandora as its main attractions.

In 2022, the Ankerside shopping center's previous owner, REI Nederland BV, was taken over by the Irish company Martin Property Group. This acquisition was part of a larger national portfolio that encompassed several other shopping destinations, including Clarendon Shopping Centre in Hyde, Exchange Shopping Centre in Rochdale, Four Seasons Shopping Centre in Mansfield, Westside Plaza in Edinburgh, and Angel Place Shopping Centre in Bridgwater.

A representative from REI Nederland B.V. stated, "We are thrilled to have collaborated with Tamworth Borough Council for the last two years, which has led to the council acquiring the long lease in addition to their existing freehold. Now that both interests are under one owner, the council is in an excellent position to manage the shopping centre and guide it through the next phase of its asset management."

Councillor Nova Arkney, who oversees infrastructure, heritage, and the local economy for Tamworth Borough Council, expressed: "We are dedicated to ensuring our town center is prepared for the future. This initiative aims to offer stability and confidence to the tenants and shoppers at Ankerside, while also safeguarding the long-term viability of the shopping center located in the center of our town."

"We're excited about our goals to revitalize the centre and are grateful for the backing of NewRiver, a publicly traded company that specializes in owning and managing retail spaces. NewRiver is collaborating with all current tenants and contractors at Ankerside to ensure a seamless transition and maintain the centre's operations. Both Ankerside Shopping Centre and the entire Tamworth town centre are open for business, and we invite everyone to keep supporting the fantastic shops in our vibrant town."