The future of Idlewells Shopping Centre in Sutton-in-Ashfield, Nottinghamshire, remains optimistic despite its recent auction failure. Originally scheduled for auction on December 12, the site did not receive any offers that met the minimum required bid. However, the management team, Davlea Estates, is undeterred and is now focusing on future opportunities to revitalize the shopping center.
David Deisner, a director with Davlea Estates, shared that interest in Idlewells had been growing in recent weeks, boosted by a new five-year lease agreement with Boots and additional new tenants. These developments have helped to increase the shopping center’s value.
Deisner emphasized that the property’s managers are now actively seeking new leaseholders and are even gathering ideas from the local community about potential uses for a former car park located in the building’s basement. He expressed optimism about the future of the site, stating, “The landlords are quite happy it didn’t sell because there’s so much potential here.”
Idlewells originally opened in November 1971 as an open-air market and has since expanded to include 40 shops, a café, three kiosks, and a multi-story car park, covering a total area of 150,000 square feet. While the auction had expected the property to sell for between £3.25 million and £3.5 million, Deisner believes it is now valued at at least £3.8 million.
“The next 12 months are going to be exciting for Idlewells,” Deisner added. “We’re looking forward to hearing more from the local community about what they’d like to see happen with the space.”
Source: BBC News
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