Blackpool council has bought the Houndshill shopping centre for less than half the amount paid by its previous owner four years ago.
The 60-store centre, formerly anchored by Debenhams was bought by Blackpool for £47.6m to be a ‘catalyst for regeneration’.
BCC Eiffel, the previous owner, paid £105m in 2015. Since 2016
UK councils have spent more than £800m on shopping centres, with that figure likely to reach £1bn by the end of 2020 according to Revo.
