Council takes ownership of town’s shopping centre

Tamworth Borough Council says it has completed a deal to take over the Ankerside Shopping Centre.

The change in ownership was done by mutual agreement, with the transaction completed on Friday, according to the authority.

Previous owner REI Nederland B.V, transferred the shopping centre with no money paid by the council, it said.

Councillor Nova Arkney, portfolio holder for local economy, said the authority was working to ensure a smooth transition for tenants.

“We’re committed to seeing a town centre fit for the future, and this move seeks to provide stability and reassurance to Ankerside tenants and shoppers and to secure the long-term future of the shopping centre in the heart of our town centre,” Ms Arkney said.

“We have plans to invigorate the centre and are supported by NewRiver, a listed specialist owner and manager of retail destinations, in developing this.”

REI Nederland B.V said it had worked with Tamworth Borough Council over the past 24 months to arrange the deal, which saw the council acquire the leasehold for the centre - having already held the freehold for the site.

“With both interests now held by one party the council are perfectly placed as custodians of the shopping centre to take it on the next part of its asset management journey,” a spokesperson said.

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