PROPERTY investor Tops Estates plc bought the Lychgate Shopping Centre in March 2000.

It spent £20m on the 1960s-built centre alongside £22m on the Guildhall Shopping Centre in Stafford.

At the same time, the London-based property firm ploughed more than £11m into its existing developments but pocketed more than £330m of net proceeds by selling units with "limited growth potential" in Basildon and Crawley.

Once it had acquired the Lychgate Centre, chairman Everard Goodman predicted increased consumer spending in "affluent" Worcester.

"According to local authority sources, Worcester is in the top four centres in the West Midlands and is the fastest-growing district in the country," he said.

"It has a strong retail core.

"We're able to take advantage of new opportunities and meet the challenges of new technology.

"Our shopping centres are well-placed for public transport, which is of increasing importance and value."

The Lychgate Centre was built in 1968 amid the "Sack of Worcester" controversy, which made the Faithful City a by-word for insensitive development.

'Fantastic opportunity'

It was refurbished in 1993 and 1996. Two years later, the complex was given a £200,000 revamp by owner MEPC to help boost trade.

Lychgate manager John Kendrick described today's news as "a fantastic opportunity" for the city and shoppers who travel to Worcester from all over the West Midlands.

"This will attract top name fashion retailers to this end of the High Street," he said.