The Wallsend Shopping centre’s future has been in doubt since it’s former owners went into receivership in July 2010, however, NewRiver Retail has acquired the 100,000 sq ft arcade along with four other UK centres and has plans to invest in it’s regeneration.
NewRiver’s Allan Lockhart is quoted as saying:
“We are looking to re-establish the centre and instigate investment. We are close to the council who are keen to see regeneration and inward investment to the town centre and we will be working closely with them to bring about significant improvements.”
North Tyneside Council has been hoping for a buyer for the Forum as part of a scheme to regenerate Wallsend shopping facilities amid frustration from local residents who recently set up a campaign to save Wallsend shops.