Wolverhampton’s Mander Centre under offer

A DEAL has been struck for the sale of the Mander shopping centre in Wolverhampton, reports suggest.

The buyer’s identity and agreed price have not been revealed but city council deputy leader Peter Bilson, quoted by the BBC, said a “very credible property development company” was behind the deal.

“[The buyers] have experience of shopping centre acquisition and development elsewhere in Europe,” he said.

“They are keen to close the deal and look forward to making an announcement.”

The Mander Centre was put on the market by owner Delancey earlier this year for £50m.

The precinct is currently in the middle of a £30m refurbishment to make it more attractive to potential buyers.

The scheme by Mander Investments involves the demolition of the south western corner of the centre fronting Bell Street and its replacement by a new 8,360 sq m department store which will house Debenhams.
 
Further work will see a number of smaller units being replaced by larger ones, the construction of a new retail kiosk fronting Woolpack Alley and the refurbishment of the existing mall.

Owner Delancey has confirmed the centre is under offer.

Click here to sign up to receive our new South West business news...
Close