Stannifer has won consent for 345,000 sf of retail space, including a new department store, linked into the existing Octagon Centre. Also included in Project Phoenix is 100,000 sf of leisure space plus a new public library, transport interchange and new homes.
Earlier plans to extend the town's retail offer by the Dutch developer MAB collapsed in 2001. Stannifer's attempts to revive the project were challenged by both LxB which had its own plans for a larger scheme and by Tesco, which objected because the Stannifer proposals did not include provision for a new food store.
Work could start on site next year, with the new centre scheduled to open in Spring 2007.
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