THE new owner of one of East Lancashire’s biggest shopping centres has spoken of his ambition for the troubled complex.

Property developer Craig Brandwood, 54, has taken over Pendle Rise in Nelson, which had spent seven years in limbo.

Mr Brandwood, who lives in Bolton, is the director and secretary of Pendle Rise Management (NW), which was incorporated last month.

Pendle Rise went into receivership in November 2010, leaving traders fearing for their futures.

But Mr Brandwood is determined to restore the centre to its former glory. He is to plough in £2.7million over the next three years.

He said: “We are going to work together and get this place back to life. It is an iconic place but it has been neglected.”

Mr Brandwood said he had already had meetings with council officials and Pendle MP Andrew Stephenson and there was a strong joint determination to breathe new life into Pendle Rise.

He said about 65 per cent of units of the 30 were occupied, with a slightly higher rate for the market.

He revealed that two new tenants had been lined up and talks were continuing with another seven potential tenants.

Mr Brandwood said: “We will have this place full. We want the best for the whole town, not just for Pendle Rise.”

The deal for the centre has been brokered by the Trevor Dawson commercial estate agency.

Civic leaders acknowledge Nelson has experienced difficult times, but Mr Brandwood’s vision, alongside the opening of Costa Coffee in the town on August 16, holds out the prospect of brighter fortunes.

That represents a very welcome boost after the closure this summer of the Store Twenty One shop in Place de Creil.

Cllr Joe Cooney, who represents Pendle on the county council and is also a borough councillor, welcomed Mr Brandwood’s local knowledge and experience retail experience.

He said: “These are people who have retail experience and they have plans to attract more names.”

Cllr Mohammed Iqbal, leader of Pendle Council, has pledged to work with the new owner.

Mr Stephenson said there had been a lot of ‘false dawns’ over Pendle Rise but hoped the new owners can turn around the centre’s fortunes.”