London-based developers Metrobank and Ashquay have submitted plans for a £25m retail development in Loughborough, Leicestershire.
The proposed 180,000 sq ft retail and leisure complex will include retail, restaurants, a multiplex cinema and fitness centre. There will be a car park and 30 residential units. A central feature of the plan is the conversion of a Victorian school building to a restaurant and pub.
The scheme is designed to link with existing shopping and leisure facilities. Parkridge Investment’s £11m retail and leisure scheme (70,000 sq. ft.) is adjacent to the site.
The developers hope building work will start in summer 2000, ending mid-2001.
Loughborough Town Centre manager Simon Todd said the new development showed confidence in the town as a retail and leisure destination: “That two developers are willing to invest £36m in the town centre in 12 months demonstrates the town’s potential. Metrobrook’s scheme will enhance a neglected part of the town centre.”
EGi News 08/11/99
