Lathe Investments who manage the centre on behalf of their Redleaf VI fund have gained detailed planning permission to refurbish and re-commission the old roof top multi-storey car park, refurbish the malls and rebuild new dramatic entrances.
The newly refurbished car park will provide some 200 short stay shopper spaces with a new lift and staircase to take customers into the heart of the Ladysmith Centre. It has been disused for over ten years and its refurbishment will add much needed car spaces to the town centre. It will be laid out with modern car space sizes and an improved layout. Disabled and mother and child spaces will also be provided.
The refurbishment will see the malls adopt warm colours to replace their dated blue colour scheme from the 1990's. The three entrances onto Warrington Street, Katherine Street and Old Street will be rebuilt to provide more vibrant entrances and the entrance onto Warrington Street will feature a digital media screen facing the market place.
Lathe Investments bought the centre in September 2005 for over £45 million and are a specialist shopping centre investor and asset manager, having owned 17 shopping centres during their ten year history both in the UK and Spain.
Ashley Blake, Lathe's Head of Property commented: 'We are excited about investing further in Ashton which is undergoing major regeneration with projects such as the arrival of Ikea, the market redevelopment and extension of the Arcades. The Ladysmith Centre is a key retail destination in the town and our investment will ensure it provides a modern retail environment for shoppers and tenants. We are long term investors and believe Ashton has a bright future'.
For more details please contact:
Ashley Blake, Director - Head of Property, Lathe Investments Limited.
Tel: 01442 866289. E-mail: ashley@latheinvestments.com
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