The proposals will see the one million sq ft Telford Shopping Centre increase in size by up to 80%, with a net increase of almost 400,000 sq ft of retail and 250,000 sq ft of restaurants, cafés, bars and other eateries as well as a cinema and hotel.
Commenting on the planning application, Sovereign Land chairman Tim Binnington said: "Our proposals represent a major commercial redevelopment opportunity that will help to transform Telford into a regional retail and leisure destination. More than that, they are a vital part of a strategy for creating a new future for one of the UK's important New Towns.
"Telford was designated a New Town in 1963 and Telford Shopping Centre, which forms the vast majority of the town centre, is celebrating its 40th birthday this year. Over the years, the town centre has evolved piecemeal and parts of it are showing their age. We now want to take the town forward to the next stage with a considered, planned regeneration strategy.
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"Telford & Wrekin Council is already making great strides – having successfully turned Telford into one of the fastest growing towns in the UK, initiated the £250 million Southwater leisure and civic development on a site adjacent to the shopping centre (where phase 1 is due for completion next year) and have exciting plans for residential, school and transport renewal.
"Our proposals for the Town Centre are fully integrated with the Council’s wider strategy and urban design ambitions. By working with the Council and other stakeholders we aim to make Telford a better place for residents, businesses and visitors."
Ares Management (previously AREA Property Partners) appointed Sovereign Land to asset manage Telford Shopping Centre at the beginning of the year. The Centre, which sits on a 70-acre site in the centre of Telford, comprises more than 170 retail units including House of Fraser, Debenhams, Marks & Spencer and Primark.
The planning application follows the strong public support for the outline proposals expressed at the recent exhibition. More than 1,225 people visited the public exhibition held at the beginning of July. Nearly 70% of those that completed a questionnaire stated that they were in favour of the proposed approach to the redevelopment of Telford Shopping Centre. Only 8% were not in favour.
Designed by architects Benoy, the masterplan flags four key areas for redevelopment – the Northern Quarter site (currently occupied by ASDA), Central Square, the Southern Quarter and the Bus Station. The strategy also seeks to establish key urban design principles that will shape the way in which the development is delivered.
(CD/JP)
