Wolverhampton Council proposal to buy Beatties with compulsory purchase order
Wolverhampton Council is looking to use compulsory purchase powers to buy the Beatties building.
The council's cabinet is set to approve in principle the option to use compulsory purchase powers to buy the landmark art deco building in Victoria Street when it meets next week.
The former department store building has been empty for more than six years, when owner House of Fraser moved to smaller premises in the Mander Centre.
The council said the 'iconic' building was crucial to its regeneration plans.
The building was initially bought by SSYS Beatties for £3 million, with an announcement that it would be converted into 300 flats. But the scheme faltered when owner Pragnesh Modhwadia became embroiled in fraud allegations, and the company was put in receivership.
It was bought from the receiver by present owner Eden (Beatties) Ltd for £3 million, and last year the council gave permission for a £70 million redevelopment which would see the building turned into 306 flats, with the ground floor retained for 73,000 sq ft of retail and leisure space.
But the work has yet to materialise, and last year the company was issued with an enforcement notice about the deterioration of the site.
