Lib Dem-run Sutton Council announce the ambitious purchase of the St Nicholas Centre in the heart of Sutton High Street.
The £26m investment marks the Lib Dem-run Council's ambitious approach to local regeneration and Sutton's High Street.
It enables the council to shape the character of the High Street and ensure it reflects the needs of Sutton residents with a variety of businesses and organisations as we recover from the pandemic.
Ruth Dombey, Lib Dem Leader of the Council, said "As the long leaseholder, we will have much greater control and influence over a key asset in our borough and can ensure that any future development is in keeping with our vision for the town centre".
Sutton has one of the strongest local economies in the country, but the pandemic has devastated high streets across the country.
Ruth added, "Delivering a vibrant high street that responds to today’s leisure, consumer and employment demands is more important than ever as we seek to rebuild Sutton’s communities and economy after the impact of the pandemic".
A consultation will soon be launched to ensure residents can shape the recovery.