The owners of the Grosvenor Centre in Northampton have denied they are on the verge of selling the town centre mall.
In the third week of a public inquiry to decide if a new out-of-town shopping centre should be built in Rushden, lawyers representing the developers claimed the Grosvenor Centre was about to be put on the market.
But officials from Legal & General, who own the Grosvenor Centre and oppose the Rushden scheme, denied any sale was on the cards.
Robin Denness, from Legal & General, told the inquiry: “That’s the first time I’ve heard that suggestion.
“I’m very well placed in the market. I’m pretty well up to date on which shopping centres are on the market, even confidentially.
“I would have certainly been aware if there were any rumours circulating.”
He went on to admit there were no plans to invest in the Grosvenor Centre “as we sit here today”, but insisted long-delayed plans to revive the mall were still on the cards.
He said: “Legal & General plans to invest in the town centre, most definitely. I don’t know precise amounts, but I do have it on good authority that it runs into millions.”
He argued, however, that the investment would not go ahead if the Rushden Lakes shopping centre plan was approved. The inquiry also heard claims that Primark planned to move from its Abington Street shop to the current House of Fraser store in the Grosvenor Centre.
However, neither Primark nor House of Fraser have commented about the speculation over the future of their stores in the town.