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Economic Development and Regeneration
Last updated: 8/8/2011
Expires: 12/8/2012
More than £70 million pounds worth of retail development is coming to Stafford.
LXB Retail Properties Plc has acquired the old Riverside Recreation Centre site in the heart of Stafford, together with the leasehold interest in the Bridge Street Multi Storey car park. Advanced talks are also taking place with LXB Retail over the purchase of the town’s Kingsmead car park site.
Both proposals have attracted interest from national chains with LXB Retail saying outline terms have already been conditionally agreed to lease the ’anchor’ store on the Riverside site to a major retailer. It is expected the schemes would create around 650 jobs and provide more than 1600 car parking spaces.
The former recreation centre land would provide some 220,000 square foot of retailing whilst the Kingsmead site has been earmarked for another retail development of 70,000 sq ft.
A planning application is expected to be submitted soon with construction work anticipated to start in 2012.
Work on the various sites will be phased in such a way as to ensure that there will be enough car parking available to serve town centre businesses at all times.
