After many years of ownership by an Institutional Investor, the Belvoir Centre in Coalville has new owners following its acquisition last week by Gylo, a private property investment unit trust.
Specialist Property and Development Consultancy Lathdale has been appointed by Gylo to lend its retail expertise to improve the overall management of the shopping centre and also explore new opportunities.
As part of the plans and to enable the purchase, North West Leicestershire District Council’s Cabinet agreed to sell the car park surrounding the Belvoir Centre to the new owners at a special meeting on Monday 10 June.
Nick Harcus of Lathdale said, “We’re delighted to be working with both Gylo and North West Leicestershire District Council. We will be getting to work straight away on a proactive letting strategy for the currently vacant shops as well as looking at new investment and development options. We will keep local people and businesses fully informed as new initiatives happen.”
Councillor Richard Blunt, Leader of North West Leicestershire District Council, said: “When we made Coalville’s regeneration a council priority four years ago, we knew we could only focus on the things within our control, and that a big part of the town centre – the Belvoir Centre – was outside of that remit.
“We’re pleased that a private investor is seeking to make a difference to this part of the town. The way people spend their leisure time is different now and a varied town centre is crucial to drawing people in. We want Coalville to grow with this change and be a place where people want to live and spend their leisure time, and where businesses thrive and invest.
“People often compare the town to Swadlincote and ask why similar investment can’t happen in Coalville. We’re happy to work with the new owners by making our land available in order to facilitate further investment in the town centre.”
GCW acted for Gylo and Jackson Criss acted for the Institutional Investor.