Wolverhampton's Mander Centre buyer committed to multi-million pound revamp
The potential new owners of Wolverhampton's Mander Centre are committed to continuing with the multi-million redevelopment of the site, say council bosses.
It has emerged that current owners Delancey have chosen a preferred bidder for the shopping centre that has been granted planning permission for a £30million refurbishment.
The site went on the market earlier this year with a £50 million price tag.
Wolverhampton City Council leader Roger Lawrence said he understood a deal was close to being done.
"We understand the deal is very close to being finalised. We welcome the new investment and look forward to working with the new owner.
"I do not want to say anything at this stage that could jeopardise the agreement but I hope that this will be a good news story for the city because the preferred bidder is full on in its commitment to refurbish the centre."
He added: "This would end a period of slight uncertainty over whether the planned redevelopment would continue after the sale of the Mander Centre."
As part of the bidding process there have already been discussions between the would-be purchaser and the council.
It is thought that the bidder has experience of shopping centre acquisition and development elsewhere in Europe
Delancey confirmed that the Mander Centre is under offer but insisted that it had not been sold yet. They said that they could not comment further at this stage.
The identity of the proposed buyer and the price it is set to fetch have still not been officially confirmed.
Under proposals agreed by council planning chiefs the multi-million pound revamp of the Mander Centre will see a new Debenhams created, as part of a £30 million overhaul.
This would create 120 new jobs with the department store due to open not before 2017.
It was recently confirmed that a £4million sculpture taken from the shopping centre last year would be returned once the work had been completed.
Barbara Hepworth's Rock Form went missing from the centre this year, prompting fears it would be sold off.
A petition was started campaigning for its return, attracting 3,000 signatures, while Turner Prize winning sculptor Sir Antony Gormley supported the cause.
