The antiques centre, previously known as Newark Antiques Warehouse, was owned by Nicholas Mellors who also ran an auctioneering business from the same site.
Mellors closed his auction house earlier this year to pursue a career as a consultant and freelance auctioneer and sold the freehold of the warehouse centre and the business to Pedley for an undisclosed sum.
The centre hosts 30 furniture dealers on the ground floor and 60 specialist dealers on the first floor selling collectables.
The Newark Antiques and Interiors team, led by new owner, Paul Pedley, (back row, second from right).
Pedley, who has been a dealer for more than 20 years, said: "I couldn't resist the opportunity to take over such a well-established antiques centre. There's a fantastic sales team and a great mix of tenants. All the right ingredients to build on past achievements and to be even more successful in the future".
He added: “I am going to modernise. The business needs investment in advertising and we will promote it via social media and an improved website.”
