GCW has advised Gylo on the acquisition of the Belvoir Centre in Coalville. The private property investment unit trust purchased the Leicestershire shopping centre from an institutional investor and has appointed a team of advisors to ensure the scheme is focused on the needs of the catchment.
Working with Lathdale, GCW is exploring opportunities across the shopping centre. An immediate initiative has been to expand the ownership. In June, North West Leicestershire District Council’s Cabinet agreed to sell the car park surrounding the Belvoir Centre to Gylo as part of its drive to support the regeneration of the town centre.
“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”, said Lathdale’s Nick Harcus.
Councillor Richard Blunt, Leader of North West Leicestershire District Council, said: “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.
“To create a place that is relevant to the people who live and use the town, investment is necessary. However, this investment must be focused to ensure the offer is sustainable. The local authority’s enthusiasm for playing a part in this change is encouraging. The partnership between the private and public sectors is an essential building block in creating necessary change for the town.”