Belvoir Centre in Coalville sold - and here's what the new owners have planned for it

Coalville’s Belvoir Centre has been sold in a deal that could see the shopping venue revamped.

The 1960s-built complex, off Belvoir Road, has changed hands.

Previous owners Threadneedle have sold it to Gylo, a private property investment unit trust for an undisclosed sum.

As part of the deal North West Leicestershire District Council has agreed to sell the centre’s car park to the new owners.

While the sale has been agreed the car park will be independently valued before the deal is completed.

Gylo has hired property consultants Lathdale to see how to improve the overall management of the shopping centre and also explore new opportunities.

Lathdale’s Nick Harcus 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.”

What the council says

Leader of North West Leicestershire District Council coun Richard Blunt 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."

He added: “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.

“We are also looking forward to working collaboratively with the new owner to improve the centre through joint initiatives that will support the regeneration of Coalville.”