Tim Binnington, Chairman of asset managers Sovereign Land, which acts on behalf of the investors Telford Trustees No.1 Ltd & Telford Trustees No.2 Ltd which own Telford Shopping Centre, said: "We are delighted that the Council has approved our plans for the regeneration of Telford Town Centre. Our architects Bennoy and planning consultants G L Hearn worked really hard to ensure that our proposals were closely aligned with the Council's wider strategy to create a more integrated, more attractive and welcoming town centre. It's great news for us and for Telford.
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"Now the hard work really starts as we begin to work up detailed proposals for the first phase of development - the Northern Quarter – in the area where Asda is currently located, as well as working through some of the strategic details with our partners at the council and other stakeholders. We would expect to be ready to undertake public consultation on the detailed plans for the Northern Quarter in the early Spring next year."
The masterplan envisages the redevelopment of four key areas of the Town Centre. In addition to the Northern Quarter site, Central Square, the Southern Quarter and the Bus Station area are all earmarked for regeneration. In total the new development could increase the size of the 1 million sq ft Telford Shopping Centre by as much as 80%, with a net increase of up to almost 400,000 sq ft of retail and nearly 250,000 sq ft of restaurants, cafés, bars and other eateries. Other proposed uses include a cinema and hotel.
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