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Idlewells operator says shopping centre has turned a corner six months on from collapsed sale

By Latifa Yedroudj, Junior Local Democracy Reporter

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The operator of Sutton-in-Ashfield’s Idlewells centre says a key decision not to go ahead with selling it last year has paid off.

The property agent in charge of it now the failure of a sale has proved a positive turning point for the town.

The centre, off Market Street, Sutton-in-Ashfield, is owned by London-based investment company Midos Group and managed by Davlea Estates, who bought it in April 2023.

It was put up for auction on December 12 2024 but the centre did not sell after its price rose when it was revalued due to an increase in tenancies.

David Reisner, director of Davlea Estates, says the outlook for the shopping centre is improving six months on.

The centre has secured several lease renewals and a new local tenant – a soap maker – attracting customers from across the country.

David Reisner, director of Davlea Estates, said: “We’re delighted, because we’ve had some really good renewals.

“We’ve also attracted a new tenant who’s local, and he’s doing really well.

“It was a good decision not to sell [the property or centre], and we’re now in talks with two national businesses that are also interested in moving into the centre.

“So overall, things are looking more positive at the moment.”

Mr Reisner said the centre is aiming for a community feel, and hopes to bring in independent businesses to thrive in the area.

National retailers have also recently renewed their leases, and discussions are under way with two more national brands interested in joining, he said.

Mr Reisner said: “We’ve had a North West open last year, we have a really community vibe.

“We’re trying to foster independent businesses. Footfall is very good, the tenants all trading well.

“The nationals have recently renewed [their leases], so this is a good sign. We’re really happy.”

Responding to the previous lack of a sale, Councillor Jason Zadrozny, Leader of Ashfield District Council, previously told the Local Democracy Reporting Service: “What it does mean now is the council can do more work with the existing owners and part of their plan to move forward and make sure Idlewells is a really thriving hub of a shopping centre- which it’s not quite been over the last couple of years.

“The company that own it are a business, they’re trying to squeeze as much money.

“We want to work with whoever owns it for a long term- it’s not a cash cow as far as we see it.”

Cllr Zadrozny called the shopping centre a “critical part” of making Sutton-in-Ashfield more vibrant, alongside the council’s plans for the new theatre and market square.

Cllr Zadrozny added: “It’s the centre of Sutton and we can spend loads of money on the rest of [the town centre]- if that fails it means everything else fails- so we will be working with the new owners, or the existing owners if they don’t sell, to make sure that that is the anchor part of Sutton.”

The site currently features 40 retail units, three kiosks, a café, a market hall, and a multi-storey car park with 250 spaces.

Existing retailers include well-known names such as JD Sports, Boots, Superdrug, Vodafone, and Holland & Barrett.