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Beatties owner to hold crunch meeting with mayor's team to seek funding

The owner of the former Beatties building in Wolverhampton will this week hold crunch talks to seek extra funding.

By Mark Andrews
Published

The former department store building in Victoria Street was purchased by the Eden property group two years ago, but plans to convert it into a mixed-use leisure, retail and residential development have stalled due to a lack of funding. 

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Director Hitesh Raghwani will now seek financial support for the scheme from West Midlands Combined Authority at a meeting on Friday.

The 100-year-old building, with its landmark art deco frontage, has been lying empty for seven years after the retailer was taken over by Mike Ashley's Sports Direct group. Rebranded Frasers, the department store moved to smaller premises in the Mander Centre.

Beatties department store has been a landmark in Wolverhampton for more than 100 years
Beatties department store has been a landmark in Wolverhampton for more than 100 years
The former Beatties department store. Photo: Steve Leath
Beatties remains empty
Hiten Raghwani wants to redevelop Beatties
Hiten Raghwani wants to redevelop Beatties
Hiten Raghwani stands on the first floor, at the top of where the escalator once was
Hiten Raghwani on site at Beatties. The hole on the middle of the floor here was the main escalator section as you came through the main entrance.
Hiten Raghwani looks through one of the famous arched windows onto a canopy which will soon be removed
Hiten Raghwani of Eden property group surveys the period arched windows at the former Beatties department store
Aerial photos over the former Beatties store in Wolverhampton.
Aerial photos over the former Beatties store in Wolverhampton.

The building was acquired by SSYS Beatties Ltd, formed by lawyer Pragnesh Modhwadia. Work began on a scheme to convert the building into flats, but the company was placed in receivership in 2023 after defaulting on a loan. Mr Raghwani's Eden group bought the building from the receiver for £6 million in February 2024, announcing that it would continue with the redevelopment.

Mr Modhwadia is now awaiting trial over allegations of a £64 million fraud at his former law firm, Axion Ince, which had an office in Birmingham.

Aerial photos over the former Beatties store in Wolverhampton.
Aerial photos over the former Beatties store in Wolverhampton.

The Eden group submitted revised plans for a £70 million redevelopment of the building, which would see the upper floors converted into 306 apartments, while the ground floor would be retained for commercial use, with cafes, restaurants and shops.

A crescent-shaped recess, a distinctive original feature of the building, would be restored by removing a modern foyer extension.

But Mr Raghwani said his company was seeking support from the West Midlands Combined Authority, headed by mayor Richard Parker, to make the scheme viable.

Eden planned to convert the building into more than 300 apartments, with commercial use on the ground floor
Eden plans to convert the building into more than 300 apartments, with commercial use on the ground floor

"We are about to put in application to the West Midlands Combined Authority for some gap funding," he said.

Leading Wolverhampton businessman Henry Carver has called for the locally listed building to be demolished, saying it is no longer viable as a redevelopment site and was becoming an eyesore.

Eden's plan to regenerate the building
Eden's plan to regenerate the building, restoring the semi-circular recess by removing modern porch