The Mayor of South Tyneside has hailed the six figure refurbishment of Mountbatten Shopping Centre as a success for the local community following a visit to the outdoor shopping centre.
The centre recently underwent a £200,000 refurbishment following its purchase for £2.4m. The funding was provided via a consortium of investors put together by Kourosh Manoucheri of KSM Associates IFA ltd, using a combination of pension funds and cash from their existing client bank.
The 2.01 acre site, which fell into disrepair due to neglect from its former owners, was acquired through leading North East chartered surveyors and estate agents Bradley Hall alongside joint agents Sanderson Weatherall, with assistance from Kourosh Manourcheri from financial advisers KSM Associates and Gordon Brown Law Firm llp.
Mayor of South Tyneside Councillor Olive Punchion and Mayoress Mary French joined Richard Rafique, director at Bradley Hall, Ricki Hutchinson, building surveyor at Bradley Hall, and Kevin McGorie from Sanderson Weatherall to tour the centre.
The Mayor said: “The refurbishment has given the area a real lift, and created a better, brighter environment for retailers and shoppers.
“I’m sure this will bring real benefits to the local community, with people gaining jobs and more opportunities to open a thriving business.”
The regeneration of the centre follows significant investment by South Tyneside Council into the regeneration of Hebburn town centre, including the £13 million state-of-the-art community facility, Hebburn Central.
Councillor Joan Keegan, who represents the Monkton ward, Councillors Will Flynn and Nancy Maxwell of Hebburn South and Councillor Richard Porthouse of Hebburn North also joined the tour of the new centre.
The Mountbatten Shopping Centre, formerly known as Hebburn Shopping Centre, has been renamed after the famous Lord Mountbatten who commanded the famous Hebburn-built destroyer HMS Kelly during the Second World War.
Richard Rafique, director at Bradley Hall, said: “The Mountbatten Shopping Centre has completed a significant refurbishment project to create a range of excellent units for retailers to occupy. The investment has begun to create an improved shopping experience for local people, with plenty more variety and a better quality of shops. The new owners have taken a great interest in improving the area for the local community.
“Bradley Hall will be managing the site moving forward, ensuring that tenants are well looked after and that both the owners and retailers receive a good return on their investment.”
Bradley Hall’s building surveying department also project managed the investment and refurbishment of the site.
National stores including Herons Frozen Foods, Boots, Lloyds Pharmacy and Subway currently occupy the units, with local small businesses including hairdressers, laundrettes and newsagents also trading from the site.
For further information about Bradley Hall and available commercial properties, please visit www.bradleyhall.co.uk or call the Hood Street office on 0191 232 8080.