20 major players in Wolverhampton Mander Centre talks
Agents appointed to sell Wolverhampton's Mander Centre are in talks with 20 'major players' in the commercial property industry, it emerged today.
The shopping centre has been put up for sale by owners Delancey with a £50million asking price, which the company says it is confident of achieving.
Bosses say the proposed sale will not affect plans for a £30million revamp of the centre, which will also see department store giant Debenhams take over the former TJ Hughes unit.
Delancey appointed commercial property agent Cushman & Wakefield to handle the sale earlier this month.
The agents promptly identified and approached their 20 preferred potential buyers, all of which have now expressed an interest.
Cushman & Wakefield is now speaking individually and giving presentations to each of the firms.
The next stage in the process will be for all of the interested parties to lay down their best offers, before a decision can be made on who wins the bid.
The news was today welcomed by Wolverhampton South West MP Paul Uppal.
"I think it is a real positive," he said.
"It is early days and it is just people expressing an interest, but, indirectly, if they are expressing an interest in the Mander Centre they are expressing an interest in Wolverhampton, which sends out a really positive message.
"The retail environment in Wolverhampton has been difficult for a long time but I think news like this shows that smarter people than me are prepared to put their money where their mouth is.
"That is very encouraging and it shows that they can see some signs of improvement."
Delancey unveiled its plans for the Mander Centre's redevelopment in March, with Debenhams last month confirming it had signed a deal to anchor the shopping centre.
The announcements were hailed as a much-needed shot in the arm for the city's retail scene.
Under the development plans, Debenhams will take over the 93,000 sq ft store currently occupied by Home Living.
The plans also involve creating three new major shop units and eight new kiosks, replacing 39 small units with 11 new look ones, and closing the lower central arcade.
Delancey has said the proposed sale of the centre will not stop the move going ahead in 2017, although any new owner could make minor changes.
Property firm Delancey bought the Mander Centre together with other assets elsewhere in the UK in December 2010, in partnership with RBS, for an undisclosed sum.
