Call for Sutton to become more ‘bespoke’ after shopping centre fails to sell

Idlewells Shopping Centre, off Market Street, Sutton, is owned by London-based investment company Midos Group and managed by Davlea Estates, who bought it in April 2023.

It was put up for auction with a date of December 12 but the centre currently has not been sold off as bids did not meet the needed minimum price.

The centre’s original guide price was up to £3.5 million but this has 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 lack of a sale, Coun 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 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 own it are a business, they’re trying to squeeze as much money.

“We want to work with whoever owns it for a long term- it’s not a cash cow as far as we see it.”

Coun Zadrozny called the shopping centre a “critical part” of making Sutton 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 butchers, a bakers, 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”.

Coun Zadrozny added: “It’s the centre of Sutton and we can spend loads of money on the rest of [the town 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, Vodaphone 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.