Capital Shopping Centres has confirmed plans to invest £240m in a circa 500,000 sq ft extension of its Victoria Centre in Nottingham.
CSC, which this morning reported a pre-tax profit of £446.2m for 2010 compared with a loss of £119.5m the year before, said the designs for the 981,000 sq ft centre are being finalised in consultation with the local community and will see it extended by up to 50% via the introduction of shops, restaurants and leisure facilities.
Victoria Centre manager Richard Bowler said: “The Victoria Centre has been part of the fabric of Nottingham for 40 years and attracts over 23m people every year.
“We plan to invest £240m to make it even better for our shoppers and to contribute to the future prosperity of Nottingham.
“Nottingham is one of the country’s top shopping destinations but other cities are catching up fast. We plan to expand the centre by 50% to the north to offer an even more exciting mix of shops, introduce new restaurants and leisure facilities and create up to 2,000 permanent new jobs.”
The Victoria Centre would be extended to the north, on an area currently used as a multi-storey car park.
Car parking facilities will be improved through a new underground car-park beneath the extended centre.
The extension plans would create more than 2,000 permanent new jobs. A public exhibition will take place to set out proposals for the Victoria Centre extension in the coming months.
paul.norman@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
