Idlewells changes hands

December 3, 2014 12:18 pm

Idlewells, Sutton in Ashfield

Sutton’s Idlewells Shopping Centre has been recently sold by property investment group Helical Bar to specialist shopping centre investor and asset manager Ellandi for £16.1m.

London-based, Ellandi now has over a dozen shopping centres from across the UK in its portfolio, having acquired Idlewells on 26th November.

Tim Cornford, Ellandi Asset Manager, said: “We are delighted to have Idlewells in our portfolio – and look forward to ensuring local people continue to enjoy this thriving community shopping centre.

“We have no major development plans for the centre, our intention is to give it a slight refresh and focus on the reduction of vacant units.”

Management company Ashdown Phillips will continue to manage the shopping centre on behalf of Ellandi.

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