Metrocentre operator to 'inject life' into shopping complex
The new operator of north-east England's largest shopping centre has promised to inject fresh life into the complex.
Sovereign Centros will asset manage Gateshead's Intu Metrocentre while Savills has taken on day-to-day responsibility for property management. Chris Geaves, chief executive of Sovereign Centros, said it would offer a "more personal" experience. The takeover follows Intu Properties entering administration in June. The site normally attracts about 20 million shoppers each year and up to £25m could be available for investment at the site and its adjacent retail park, Mr Geaves said. "It's a big centre, the second-biggest in the UK now. We feel possibly it has lost its way a little bit and what we want to do is correct that and inject new life into it. "You can't simply look at shopping centres as a pure retail destination, you've got to make them more of a day out." 'Soul stripped away' Referring to former features such as the indoor funfair which was removed in 2008, Mr Geaves added: "I know a lot of people were very sad to see Metroland go. "I'm not saying we're going to bring a Ferris wheel back, but we're certainly going to be talking to some very interesting new occupiers." North East retail analyst Graham Soult described the plan as "really positive". "I've been arguing for a long time that in the Metrocentre's heyday of 30 years ago it had a bit of life, a bit of soul, a bit of character. "I've often complained that Intu centres generally have had their soul stripped away. They've got whiter and blander." Intu owned 17 shopping centre complexes in the UK, including the Trafford Centre in Greater Manchester and Lakeside in Essex, but a number have switched to new operators. Follow BBC North East & Cumbria on Twitter, Facebook and Instagram. Send your story ideas to northeastandcumbria@bbc.co.uk.