Leaders of Derby’s economic recovery task force have welcomed news that investors Cale Street have taken full ownership of the city’s Intu shopping centre.

Cale Street already owned a 50 per cent stake in the centre but have now taken complete control following Intu’s move into administration.

Derby City Council leader Councillor Chris Poulter said task force members had been in regular dialogue with Intu’s Derby management team since June, when the administration was announced.

“We have enjoyed a long and successful partnership with Intu Derby’s local management team and will be seeking to continue that relationship with the new owners,” said Councillor Poulter.

“We have maintained dialogue with Intu throughout the period of administration and held discussions with Cale Street. We now look forward to further discussions on how we can work together to ensure a strong future for the Derby centre.

“Our economic recovery strategy recognises the challenges facing the retail sector, which have been accelerated by the coronavirus pandemic, but we are committed to ensuring that retail continues to play a key role in a vibrant city centre that also has a great leisure, culture, business and living offer.

“Cale Street will be a key partner in delivering that vision.”