HOPES of a brighter future for a struggling town have grown with a buyer being found for a major shopping centre.

Pendle Rise in Nelson, the borough's biggest shopping centre, has been sold on behalf of the receivers after seven years in limbo.

It went into receivership in November 2010, which left traders fearing for their futures.

But now a deal for the centre has been brokered by the Trevor Dawson commercial estate agency.

The sale offers the prospect of a new era for Pendle Rise and Nelson town centre, which civic leaders acknowledge has experienced difficult times.

News of the deal came hot on the heels of the announcement of the opening date for a Costa Coffee outlet in Nelson, which will throw open its doors on August 16.

That came as a 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, said the buyer is local and has retail experience.

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

Pendle's MP Andrew Stephenson said he was 'cautiously optimistic' about the news.

Mr Stephenson said: "I met with a representative of the buyer to talk about hopes and aspirations for the centre.

"I'm very keen to see the numerous vacant retail units filled and for the owner to work with the council and other providers to breathe new life back into Pendle Rise shopping centre.

"I am cautiously optimistic about the new, as there have been a lot of false dawns for Pendle Rise in the past.

"But I hope the new owners can turn around the centre's fortunes."

Cllr Mohammed Iqbal, leader of Pendle Council, welcomed the deal and immediately pledged to work with the new owner.

He said: "It is good news that Pendle Rise is being sold and we will be looking to work with the new owner for the good of the town.

"But it is important that the new owner should be committed to the town."

Pendle's deputy leader, Cllr Tony Greaves, welcomed the deal in principle but echoed the importance of having an owner committed to the town.

He warned of the disadvantages of a buyer that may be 'distant and out of town'.