Mander Centre bought for £59m
The Mander Centre has changed hands for £59 million.
The 620,000 sq ft shopping complex in the heart of Wolverhampton has been bought by Benson Elliot Capital Management from Mander Investments.
Benson Elliott will now carry out a major multi-million pound refurbishment to provide extra space to attract new shops. The re-development will be anchored by a new 90,000 sq ft Debenhams store, which will trade over three floors.
It was also confirmed today that the iconic Barbara Hepworth sculpture, Rock Form will return.
Peter Cornforth, director of retail at London-based Benson Elliot, said: "We are delighted to have completed this acquisition, and are now looking forward to working with Wolverhampton City Council, the local community and our retailers to progress the planned refurbishment of the Mander Centre. Our vision is to enhance the retail offer, attract new retailers and bring new jobs and investment to help Wolverhampton realise its full potential."
The Mander Centre was built between 1968 and 1974 and its revamp has been long-awaited.
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