Yahoo News New owner of former Middlesbrough Marks and Spencer confirmed as 'big things' promised for town
The new owner of Middlesbrough's former Marks and Spencer store has been confirmed.
Teesside Live can reveal that Linthorpe 54 Ltd has acquired the Linthorpe Road building from the national chain. Directors at the firm include local businessman Nasser Din and retail entrepreneur Zahid Iqbal, the man behind several shopping centres in the UK including The Packhorse Centre in Huddersfield and Batley Plaza.
It was confirmed last week that the iconic store had been "acquired by a new owner" after months on the market, having been vacant since the chain pulled out of the town last April. But now developer Nasser and business partner Zahid are putting their two minds together for an exciting new redevelopment project, with details to be released in due course.
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He told Teesside Live: "The town has suffered like others in the UK. The centre is the heart of the town and should always be there - it needs investment for it to be able to attract people, businesses, and create wealth.
"We don't want the shoppers to go elsewhere. The people of Middlesbrough and other towns in the area should be looking to shop in Middlesbrough. I am confident that this situation will turn around."
As previously reported by Teesside Live, several major chains have left the town in recent years, including House of Fraser, Debenhams, Miss Selfridge, TK Maxx, and Topshop.
Nasser cited several other of the town's projects that are currently contributing to its redevelopment, notably at Captain Cook Square. The complex is now home to Level X and The Wired Lobby, which will soon be joined by American fast food chain Wendy's, a boutique cinema, restaurant, and an inflatable indoor theme park.
"We're doing something exciting with Marks and Spencer," Nasser continued. "Give this two to three years and we should have a very successful thing in town." While plans for the unit remain tightly under wraps, Nasser said he hopes that redeveloping the unit will encourage more local businesses to open in the town centre.
He said: "Zahid is experienced in retail trade and recently purchased and redeveloped a shopping prospect. We are putting our heads together to see what we can do - and to make it work."
'Big things' coming to Middlesbrough
While Marks and Spencer signs have since been taken down from the chain's former home, the windows and shutters remained covered in black and white branding. The displays thank customers and colleagues and state the store is now closed.
It was the "end of an era" when M&S brought down the shutters for the final time last year after 122 years, a move that devastated shoppers. The bombshell closure announcement left some fearing about the future of the town, with one person saying at the time: "It's one of the only decent shops in Middlesbrough. I don't think I'll keep coming to the town if any more shops close."
The building was then put on the market just one month after its closure. Set across three separate floors, the 102,959 square-foot unit was made available as a freehold or part-long leasehold with full vacant possession.
Last week, Teesside Live confirmed the news that the building - which had a mixed tenure but was predominantly owned by M&S - had been acquired by a new owner.
A council spokesman said at the time: "We are aware that the former Marks & Spencer building on Linthorpe Road has been acquired by a new owner. At this stage, we are not aware of any specific plans for development by the new ownership but we would support any proposals which aid the transformation and diversification of Middlesbrough’s town centre economy."
M&S has yet to comment on the purchase.
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