New bid to take over and transform Hartlepool's Middleton Grange Shopping Centre
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The newly-formed Hartlepool Development Corporation (HDC) is in negotiations with Mars Pension Trustees to buy the long lease for the site.
The deal, which requires board approval, would pave the way for the centre to be transformed.
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Hide AdCurrent plans include regenerated public spaces and a new frontage while also opening it up to a wider range of uses beyond retail.
The transfer will ultimately give HDC control of the centre and is seen as “vital to the overall masterplan for Hartlepool”.
This blueprint includes attracting 2,000 new jobs, building up to 1,300 new homes, restoring, reinvigorating and reshaping a sustainable and vibrant town centre and renewing the waterfront.
Any approved takeover would see Hartlepool Borough Council retain the freehold of the site while the HDC board would appoint asset and property managers to oversee Middleton Grange on its behalf.
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Hide AdTees Valley Mayor Ben Houchen, who is chair of the board, said: “Middleton Grange shopping centre has been at the centre of Hartlepool for decades. But it’s no secret that it needs some TLC.
“This is a great opportunity to reposition the centre and make it a thriving location for the brilliant local businesses already based there while attracting new stores to the town and helping local people make more use of it.
“We’ve got huge, transformational plans for Hartlepool and Middleton Grange is a big piece of the puzzle.
"If the takeover is approved, it will pave the way for a joined-up, future proofed and reinvigorated town centre that people want to spent time in – supporting jobs, boosting the economy and making our region an even better place to live.”
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Hide AdCouncillor Mike Young, the leader of the council and a HDC board member, said: ‘‘The leasehold purchase of the Middleton Grange Shopping Centre is a key step in the regeneration of Hartlepool. “It complements the work that Hartlepool Borough Council is doing in improving other key areas of the town centre including the construction of the new £34.6million Highlight leisure centre and the £16.5million Levelling Up funded Production Village to support the growing creative and screen industries.’’
The acquisition proposal is due to be discussed at the HDC board meeting on Tuesday, 28 November.
Middleton Grange has been approached for comment.