Plans to add 350,000 sq ft of new retail space to Lakeside Shopping Centre in Essex are currently being formed by the site’s owner Capital Shopping Centres (CSC).
Early negotiations regarding the potential development are being held between the real estate firm and Thurrock Council for an extension that could create thousands of jobs for the local community.
A spokesperson for CSC told Retail Gazette: “We are working closely with local stakeholders regarding the extension of Lakeside.
“The proposed work entails a major extension at one end of the centre, as well as the potential relocation of the bus interchange.”
Submission of a planning application will be the next major step for the scheme and if the request is approved by the council it could pave the way for the creation of hundreds of short-term construction jobs, as well as a plethora of new full-time retail employment opportunities when new tenants arrive.
The CSC spokesperson added: “We’re considering a number of options for site layout and are working closely with the local authority.
“There is an incredible demand for retail in the area.”
New development plans at Lakeside come after CSC reported strong annual trading results for 2010 last week, which prompted the group’s Chairman Patrick Burgess to claim the business’s growth plans are back on track after it recorded losses in 2009.
In the 12 months ending December 31st 2010, profits reached £529 million, which compared favourably to the loss of £370 million one year before.
CSC owns a number of the UK’s major shopping hubs, including the Victoria Centre in Nottingham and Braehead in Scotland, both of which could also be expanded in the months ahead.