Prescot shopping centre has been bought by Knowsley council for £1.3m.
The shopping centre had been run by the Groupe Geraud UK for some time and was suffering from low occupancy and deteriorating conditions.
The council confirmed today, December 2, that after a period of negotiation it had agreed to acquire the shopping centre from Groupe Geraud UK for £1.3m.
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The deal includes the former Stephenson’s Printworks as well as more units on Eccleston Street and Market Place as well as the shopping centre car park – which Knowsley Council said has now been fully reopened.
The printworks could be demolished as part of plans for the site although the council said it doesn’t at present have plans to demolish any other parts of the site.
The council has appointed a partner, Workman LLP, to take over the day to day running of the shopping centre, with all staff to have their contracts transferred over to Workman LLP in due course.
The council said it has funded the purchase of the shopping centre from “an allocation of the future capital receipts” from previously agreed council land disposals.
In a statement released today, Knowsley Council said it intends to hold a consultation around future plans and intends to “make improvement to the shopping centre to attract new occupiers” starting with the shop fronts on Eccleston Street.
The council is hopes to secure future car parking provision for the town to support new Shakespeare north and additional visitors.
Cabinet member for regeneration Cllr Tony Brennan said the council had been “extremely ambitious” with its plans for Prescot.
Cllr Brennan added; “We have certainly led the way with our investment and commitment to building the iconic Shakespeare North Playhouse.
“Our ambition has led to even more investment from partners and private developers which has in turn led to a huge transformation across the town centre with thriving businesses, new restaurants, and bars, improvements to public realm and public transport.
“We have definitely seen the results of the ‘Shakespeare effect’ taking hold.”
Describing Prescot’s regeneration as a “strategic priority” for the council, Cllr Brennan said he hoped the acquisition of the shopping centre would “keep up the positive momentum” and drive further forward the town’s regeneration to become a “vibrant and valuable space.”
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