The new owner of a dated shopping centre in a former coalmining town has outlined their vision for its future.
Property investment company Gylo is seeking council approval for their first stage of its plans to bring a new lease of life to the 1960s-built Belvoir Shopping Centre in north west Leicestershire.
Gylo bought the complex from Threadneedle last summer.
The company wants to improve the “feel and attractiveness” of the public space with new green spaces, improvements to the shop fronts, better connections to the car park and a new town square.
The key components of the proposals include:
- Removing three shop units to create a new pedestrian route from the car park to a remodelled central public square;
- A new green space on the site of the former units that links into the central square;
- New overhead signs at the entrances and tenant directory boards;
- Improvements to shop canopies including use of timber and recessed lighting;
- Nicer pedestrian routes with new plants, landscaping and lighting;
- Upgrading the public square with new paving, a fountain and seating
Nick Harcus of development consultants Lathdale, which is working for Gylo, said: “This is just the beginning of a long-term plan to invest in this important community shopping centre and enhance the heart of the town centre.
“We firmly believe that by taking proactive moves to enhance and upgrade the environment it will not only attract more shoppers but also bring in new retailers and leisure uses.
“This is the first active and substantial injection of investment for very many years and demonstrates Gylo’s confidence in Coalville.
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“The new owners acquired the shopping centre with a positive vision for the future and a belief in the town centre as a shopping and leisure destination.
“They are delighted that North West Leicestershire District Council also shares that vision, as a strong private/public partnership is always key for town centre regeneration.”
Councillor Richard Blunt, leader of North West Leicestershire District Council, said: “The regeneration of Coalville is a key council priority.
“We want the town to change to be a place where people want to live and spend their leisure time, and where businesses thrive and invest.
"With this planning application, I’m pleased that Gylo is seeking to make a difference to the Belvoir Centre in a way that complements this wider aim for Coalville.
“The way people spend their leisure time is different now and a varied town centre is crucial to drawing people in.
"We’re really pleased that the sale of adjacent town centre car parks has been able to facilitate the creation of these plans for further investment for the Belvoir Centre.”
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Three of the town centre’s car parks will also transfer from the council’s ownership to Gylo, which will allow the company to take a broader approach to regenerating the town centre.
During the current COVID-19 coronavirus outbreak all car parking charges have been suspended.