THE new local owners of Derry’s Richmond Shopping Centre say it has plans to “revitalise” the buildig by filling vacant units and improving its façade.
In June 2021 it emerged that the retail complex, one of the city’s two main shopping centres, was in receivership and in need of a new owner.
Derry-based developers, the Martin Property Group, have now confirmed that it has acquired the shopping centre and it is eager to re-energise the building.
A spokesperson from the Martin Property Group told the Belfast Telegraph: “The plan is to keep the retail offering, bring in some new retailers and look at improving the external of the building.
“We are considering a number of opportunities to revitalise the centre which has extremely strong footfall focusing initially on letting the vacant units.
“Starbucks will be opening at the top of the scheme in a number of months with fit out works ongoing. We are also having some exciting conversations with new prospective retailers.”
The shopping complex was built in 1984 and has remained a major part of the city centre retail offering ever since.
Hosting more than 40 shops, the centre is home to big name retailers including Nando’s, Lifestyle Sports, New Look and Caffe Nero.
SDLP Councillor Brian Tierney said: “I think it’s great that the centre is in the hands of a local company like the Martin Group.
“They know the importance of the centre to local people and how important it is that we work together to revitalise the city centre but providing a good quality shopping experience for local people.
“I’ve no doubt that they will keep the local aspect of the centre,” added the former Mayor of Derry and Strabane.
London-based asset manager, property development, and finance company, Vixcroft, purchased The Richmond Centre for £20m in January 2015.
Lockdowns and restrictions imposed as a result of the Covid-19 pandemic have placed unprecedented pressures on high streets.
Last summer Ernst & Young (EY) confirmed it had appointed two individuals as receivers of the Ferryquay Street shopping centre.
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