Vixcroft Purchases the Octagon Centre, Burton for £15 million

May 2014 - London-based asset manager, property development, and finance company, Vixcroft, has purchased Burton’s second largest shopping centre, The Octagon Centre for £15 million from DTZ Investment, which manages the running of the centre on behalf of Strathcylde Pension Fund.

Commenting on the purchase, Vixcroft chief executive, Daniel Carter, said:  “We will now roll up our sleeves and come up with a plan to revitalise The Octagon Centre which has suffered for lack of new initiative.

 “The next step is to talk to the current and potential occupiers of the centre and to other organisations, such as the borough council, in a bid to tailor our plans to their requirements.

“Our aim is to invest in improvements to The Octagon that will enhance the appeal and vitality of the town centre for the people of Burton.

“We have taken on similar sites before and made them a great a success and, with the scope we see for investment, then we hope we can replicate this in Burton.”

The Octagon centre was opened in 1990 and is famous as the location of the first Poundland store in England. 

Vixcroft, is a spin-off of the Arrowcroft Group, which has transformed the lower precinct in Coventry as well as its regeneration of Liverpool’s formerly derelict Albert Dock.