Hopes for shopping centre despite auction failure

The shopping centre was due to be auctioned on 12 December

The managers of a shopping centre in Nottinghamshire say they are looking to the future after an auction failed to find a new buyer.

Idlewells in Sutton-in-Ashfield was due to go under the hammer on 12 December, but site managers Davlea Estates said no-one reached the required minimum offer.

David Deisner, a director with the company, said there had been an increased interest in the site in recent weeks, with a new five-year lease agreed with Boots and new tenants helping to boost its value.

He said the company was looking at finding new leaseholders, and was seeking suggestions from members of the public for using a former car park in the building's basement.

"The landlords are quite happy it didn't sell in the end, because there's so much good stuff coming out of the shopping centre," he said.

"They've decided now to focus on the opportunities and see what they can do with it."

Idlewells first opened in November 1971 as an open-air market, and now features 40 shops, a cafe, three kiosks and a multi-storey car park across 150,000 sq ft.

It had been expected to sell for between £3.25m and £3.5m at the auction, but Mr Deisner said it was now worth at least £3.8m.

"There's a lot that's going to happen there in the next 12 months," he said.

"We're [also] looking for ideas from the locals about what they want to see."