Coronation Street star Michelle Collins has revealed that her character Stella Price is to become the new owner of the Rovers Return.

Stella, who is currently working as bar manager at Weatherfield’s iconic pub, and partner Karl Munro (John Michie) will buy the business from Steve McDonald (Simon Gregson) in the New Year, after he puts it up for sale in an attempt to ease his debts.

“I’ve had my name above the door for quite a while now as manager, but now she’s actually going to own it,” she said on ITV1’s Lorraine.

“They struggle to get the money together to get a mortgage. And they’re turned down by a few people because they’re ‘too old’. But then you’ll see what happens. It’s quite exciting, being the owner of The Rovers.”

Michelle, who joined the soap in June with John, also said Stella will show more “steeliness”.

“I’d love to create another iconic character. I think Stella seems to be a bit like the Mother Teresa of Corrie – suddenly she’s everybody’s agony aunt,” said the actress, who previously played Cindy Beale in EastEnders.

“They’re injecting a little bit of steeliness into her. I think people have got to like you first, but now she gets involved in some big storylines.

“The love triangle between Carla, Leanne and Peter, she’s very much involved in that. And then obviously Karl with all his gambling.”

She added: “I think people will relate to that story and how Stella copes with that.”