A HUGE chunk of Crosby village centre has changed hands in a deal worth nearly £2.7m with developers promising to revitalise the controversial retail site.
The shopping spree, by regeneration specialists St Modwen, has been welcomed by local campaigners ABetterCrosby who formed in 2010 after Sainsbury’s bought up much of the village stores in a vast expansion plan which eventually came to nothing.
They describe the move as a significant breakthrough in an area “left to rot” by the supermarket giant and are hopeful it will transform the village “for generations to come”.
St Modwen, which is behind Great Homer Street's Project Jennifer, has bought 26 retail units from supermarket giant Sainsbury's - and others - and a plot of development land in the heart of Crosby. Current tenants include Home Bargains, Betfred and the Superdrug.
Now we would like our town centre back - bustling, buzzing and thriving as many of us remember
Steven Knowles, St Modwen’s regional director for the North West, said: “Crosby is an attractive and affluent location in Merseyside and this acquisition will allow it to build upon our wealth of retail experience in the North West."
Its plans for the village are otherwise unknown at the present time. Nevertheless ABetterCrosby today expressed its “relief and excitement”.
Chairman Peter Harvey told Liverpool Confidential: “This feels like a significant breakthrough, one that will potentially transform Crosby for future generations.
"Our community has suffered six long years of Sainsbury’s playing at being property landlords in Crosby village. After initially wanting to bulldoze more than 20 businesses to make way for their doomed “grey box” hypermarket, they have since let the town centre rot. It has caused resentment, damaged Sainsbury’s own reputation locally and hit their business as nearby Tesco and Aldi stores have cashed in.
"The rumour mill had linked St Modwen to Crosby since last summer but confirmation of the sale has brought relief and excitement.
“St Modwen will bring high street names to Crosby,” he said. “They’ve got the clout.”
His optimism was echoed by Ben Roberts of Lambert Smith Hampton’s Capital Markets team who helped broker the deal.
He said: “This is a big step forward for Crosby’s town centre. St Modwen brings a wealth of regeneration experience that perfectly positions it to revitalise the site in question.
“Having such a prestigious and experienced developer involved in the scheme is a big draw to retail and leisure operators. We are already working with St Modwen on the scheme and developing ideas which will make the best of the space, spark new interest in the area, and make a real long term difference to the town.”
Supported by a 7,500-name petition backed by high profile local residents such as Jamie Carragher and Frank Cottrell-Boyce, ABetterCrosby successfully opposed its plans for a huge new store on grounds of size and design. The proposal was refused planning permission by Sefton Council.
Sainsbury's plans were revised in consultation with locals but in 2012 it decided that a large store was not economically viable. It announced that it would seek a buyer for its £3m property portfolio, including derelict houses, development land and shops.
The £50m expansion plan by Sainsbury's which came to nothingIn the meantime, the supermarket's continued ownership was blamed for deterring businesses from moving to the village and consequently stalling its fortunes.
Harvey added: "Businesses in and around Crosby and Waterloo are benefiting from the emerging Iron Men visitor economy - while sadly Crosby village has become a no-go zone for new businesses because of high rents and uncertainty over leases. That will now change.
"St Modwen’s successful acquisition brings the sorry Sainsbury’s saga to an end. As a community we’ve been patient.
"Now, we would like our town centre back - bustling, buzzing and thriving as many of us remember.
“St Modwen can expect support from the community, but they should also expect scrutiny."
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