Merrywalks shopping centre sold, set for revamp
A rundown shopping centre in Stroud is set for a new lease of life after being purchased by Dransfield Properties, who are aiming to lead its transformation.
Dransfield paid £10 million for Merrywalks Shopping Centre, and is planning to invest £12 million in improvements including a new Edwardian style entrance, and refurbished retail, restaurant and coffee shop units. The programme of improvements is expected to get underway later in the summer.
“Merrywalks has suffered from a serious lack of investment in recent years. This is a great opportunity for us to reverse the centre’s fortunes and attract restaurants and retailers which we know would love to have a presence here in Stroud but can see that the centre needs some major improvements,” commented managing director of Dransfield Properties, Mark Dransfield.
The company has experience redeveloping shopping centres, after acquiring and relaunching Sanderson Arcade in Morpeth in 2009. Over the last nine years Sanderson Arcade has grown to become one of the north east’s premium shopping locations with an impressive tenant line up including Next, Mint Velvet, Hobbs, JoJo Maman Bebe and M&S.
Merrywalks’s multi story car park will be the first part of the shopping centre to benefit from the planned improvements. The plan also includes new high quality office and residential accommodation and improvements to the gym and bowling alley.
Dransfield hopes the programme of investments will attract new retailers to the town, and create a better shopping experience for local residents.
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