Tameside Council has completed the acquisition of the 151,502 sq ft Ladysmith Shopping Centre in Ashton-under-Lyne.
The acquisition, which was supported by a loan from the GMCA’s Good Growth Fund, forms a central part of the council’s land assembly strategy, bringing key sites into public ownership so that regeneration can be delivered at pace and scale.
The council will operate and manage the Ladysmith Shopping Centre as normal while a long-term masterplan is developed via engagement with the centre’s current retail and leisure occupiers.
Nicola Elsworth, director of strategic growth at Tameside Council, said: “Bringing Ladysmith into public ownership is a pivotal moment for Ashton. It gives us the ability to shape one of the town centre’s most important sites, delivering the homes, investment and hospitality this community deserves. Combined with the market transformation, the town hall restoration plans and the wider public realm improvements already underway, we are building a town centre that locals can genuinely be proud of.”
Deborah McLaughlin, chair of Ashton Mayoral Development Zone, added: “The acquisition of the Ladysmith is exactly the kind of strategic move the Ashton Mayoral Development Zone was created to support. Bringing this site into public ownership connects directly to our borough-wide growth ambitions and demonstrates how the public sector can act decisively to create the conditions for private investment. Ashton is increasingly on the radar of investors and developers, and this sends a clear signal that our vision is being realised.”
Eleanor Wills, leader of Tameside Metropolitan Borough Council, said: “This acquisition is a statement of intent for Ashton and for Tameside as a whole. The residents of Ashton deserve to see meaningful change in their town centre, and this is us taking direct action to make it happen. Combined with the new market, the public realm improvements and the town hall restoration, we are building a town centre that the community can be proud to live and work in.”
Managing agent Ashdown Phillips and asset manager NewRiver REIT will be retained to manage the centre. The previous owner of the centre was in receivership.
