NEWTON Abbot's town centre development manager has welcomed a commitment to tidy up the open-air Market Walk shopping centre.

Sally Henley welcomed plans to refurbish parts of the shopping centre after its ownership changed hands.

Her comments came after global investment firm LaSalle Investment Management completed the acquisition of the complex on behalf of a retained pension fund client in a deal thought to be in the region of £13million.

She met with firm representative James Pelly and she showed him around on a fact-finding mission.

The firm has indicated the busy centre, built in the 1970s, could benefit from updating.

Market Walk contains 27 units at ground floor and first floor level and big name tenants include Iceland, Wilkinson and New Look.

LaSalle Investment Management Inc, with offices worldwide including London, is a global real estate investment manager.

In 2009, the firm was responsible for selling Torquay's Wren Park shopping area to Aviva Investors Pensions Limited for £24million.

The buyer for the Newton Abbot retail centre has not yet been disclosed.

Mrs Henley said: "It was a very positive meeting in which I talked to him about the aspirations of the centre.

"I would like to see some improvements to the fabric of the building and other things like better signage, planting and promotion.

"At the moment it's a very unsexy looking 1970s building.

"The centre benefits from some excellent tenants, a high occupancy rate, and also has the benefit of the Market Square and Market Hall.

"I am sure that is why LaSalle recognised the centre's potential.

"Mr Pelly was very positive and I am hopeful some improvements can be made as we go into the summer months."

Mr Pelly says they are putting together ideas for the centre and what improvements could be made in conjunction with retailers.

Their clients include public and private pension funds, insurance companies, governments, endowments and private individuals.

LaSalle, which acquired the property from Australian firm Stockland, says it expects the initial return on its £12.67million investment to be nine per cent, approximately £1.15million per year.