Nottingham given back control of shopping centre site

The Official Receiver has handed back control of the Broadmarsh shopping centre development site to Nottingham City Council.

The move comes after the Broadmarsh Retail Limited Partnership and intu, which was redeveloping the city centre site, went into liquidation.

The Official Receiver has issued a notice disclaiming the companies’ interest in the lease to the site.

The effect of this notice is to hand control of the site back Nottingham City Council as freeholder

‘The decision to disclaim the lease for the Broadmarsh centre to the Council as owners of the freehold is a hugely significant step for the city,’ said the leader of Nottingham City Council, Cllr David Mellen

‘It means the council now has greater opportunity to start to develop a new, sustainable plan for its future.

‘To see a major redevelopment that had been making good progress stall because of the coronavirus pandemic and intu’s administration was a major blow,’ he added.

‘Broadmarsh is a an extremely important site right at the heart of the city centre. It’s vital that we maximise its potential as part of the wider regeneration taking place in the city, bringing investment, creating jobs and improving the quality of life for local people.

‘The withdrawal of Intu from the site presents a financial challenge for the city council at a time when our budget is under immense pressure. Equally this is a great opportunity to look again at the plans for this key site taking into account different ideas. We won’t be able to do this by ourselves and we will need to work in partnership,’ added Cllr Mellen.

‘It’s good that the conversation about the future of Broadmarsh has already started in the city and we want that to continue.

‘Our first priority now will be to ensure that the right of way through the centre is reopened safely as quickly as possible,’ he added.

Photo Credit – Free-Photos (Pixabay)