County Durham shopping centre sold as owner promises new businesses and growth

Castle Dene Shopping Centre has entered a new chapter after being sold to a new owner who says he wants to attract new businesses and help secure the long-term future of the Peterlee retail hub.

A County Durham shopping centre has entered a new chapter after being sold to a new owner who says he wants to attract new businesses and help secure its long-term future.

Property company owner Paul Staley has acquired Castle Dene Shopping Centre, which sits at the heart of Peterlee town centre and is home to major retailers including Asda, B&M, Boots, Specsavers, New Look, Argos, Sports Direct and Card Factory.

The new owner has pledged to support existing businesses while working to strengthen the centre's retail and leisure offering.

Mr Staley described Castle Dene as an important part of Peterlee with significant potential for future growth.

He said: "Castle Dene is an important part of Peterlee and has significant potential.

"Our focus is on supporting existing occupiers, attracting new businesses and working collaboratively with Durham County Council and the local community to help drive the centre's future success."

Discussions are already under way with a number of potential new retailers, according to the new ownership team.

The owners also plan to work closely with Durham County Council to explore how the shopping centre can contribute to wider regeneration projects across Peterlee and East Durham.

Councillor Karen Allison, Durham County Council's cabinet member for leisure, tourism, regeneration and high street, welcomed the sale.

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She said: "We were pleased to hear that the shopping centre has been sold, and we look forward to working with a new owner who shares our ambition to unlock its full potential.

"This is an exciting opportunity to build on the town centre's strengths, support existing businesses and attractions, and encourage new investment and activity that will help Peterlee thrive for years to come."

She added that community engagement through the town's Strategic Place Plan and Pride in Place investment programme showed local people's commitment to improving the area.