A mall in Maidenhead in which the Royal Borough of Windsor and Maidenhead hold a minority freehold has gone into receivership.

The Nicholsons Centre is the subject of 'a very long lease' with its current owners according to RBWM representatives, but Receivers BDO have been appointed to the shopping centre in the centre of the town, after it became encountered financial difficulties.

The Nicholsons Centre was first bought by a private equity backed property specialist Vixcroft and hedge fund Cheyne Capital in 2015 for £37m, less than half the £85m paid by its previous owner, the insurer Irish Life eight years previous in 2007.

Now, just three years after its purchase, the centre is no longer in a position to meet its financial obligations.

In response to the news, RBWM leader Simon Dudley said: "We are disappointed to hear this news. However it is reflective of the changing needs and desires of shoppers across the country.

"The shopping centre is an important element of the regeneration of Maidenhead and as we build a borough for everyone, our residents can expect the Royal Borough to act decisively and proactively to create the retail environment our residents expect and deserve."

The council also stated that, while councillor Dudley had said the council would create such a retail environment, it was still too early for them to have any solid plans regarding the centre as part of the Maidenhead regeneration project.