The leader of Ashfield District Council hopes the owners of a Sutton-in-Ashfield shopping centre will help to make the town more “bespoke” after the site failed to sell at auction.
Idlewells Shopping Centre, off Market Street, Sutton-in-Ashfield, is owned by London-based investment company Midos Group and managed by Davlea Estates, which bought it in April 2023.
It was put up for auction with a date of 12 December, but the centre has not been sold as bids did not meet the needed minimum price.
The centre’s original guide price was up to £3.5 million, but this has since increased.
David Reisner, director of Davlea Estates, said: “In the weeks since Idlewells Shopping Centre was listed for auction, we have been able to agree leases with several new tenants.
“This meant the guide price for the centre was increased, and the bids submitted during the auction did not meet this improved valuation.”
Mr Reisner says the new leases will see several new stores opening in the centre—clothing store North West opened last week.
Responding to the lack of a sale, Councillor Jason Zadrozny, Leader of Ashfield District Council, said: “What it does mean now is the council can do more work with the existing owners and be part of their plan to move forward and make sure Idlewells is a really thriving hub of a shopping centre—which it’s not quite been over the last couple of years.
“The company that owns it is a business; they’re trying to squeeze as much money [as possible].
“We want to work with whoever owns it for the long term—it’s not a cash cow as far as we see it.”
Cllr Zadrozny called the shopping centre a “critical part” of making Sutton-in-Ashfield more vibrant, alongside the council’s plans for the new theatre and market square.
The leader praised the shopping centre’s indoor market, which is run by the council, saying: “[It’s] working really well because it’s old-fashioned. There’s a butcher’s, a baker’s, the stalls where you can go look at things and speak to someone about them—I think Sutton has got to become more bespoke.”
On the ‘bespokeness’, he said he wants to see more services like restaurants and leisure activities in the town centre and thinks Idlewells can be a “big part of that”.
Cllr Zadrozny added: “It’s the centre of Sutton, and we can spend loads of money on the rest of [the centre]—if that fails it means everything else fails—so we will be working with the new owners, or the existing owners if they don’t sell, to make sure that that is the anchor part of Sutton.”
The site currently has 40 retail units, three kiosks, a café, a market hall, and a 250-space multi-storey car park.
Other existing retailers include JD Sports, Boots, Superdrug, Vodafone, and Holland & Barrett.
Mr Reisner added: “Idlewells continues to be a vital retail and community hub for Sutton-in-Ashfield residents, and these new additions will help us in our goal of continually improving the experience for visitors.”
Midos Group were contacted for comment.
• Loxley House and car park utility costs overspent by over £500,000 as tenants sought for two floors
