A £30 million project to revamp a London shopping centre has been given the green light by Southwark Council.
The joint venture between Tesco and British Land will see an extension of the existing Surrey Quays retail complex in the south-east region of the capital. The expansion will cover 110,000 sq ft and see major renovation work on the current 309,000 sq ft shopping centre at Canada Water on Rotherhithe.
Planning permission has already been granted for the development by the local authority and British Land has revealed that construction will begin in 2013 and a completion date has been set for summer 2014.
As part of the plans the extension will be installed in front of the existing structure and will have space for 18 new stores as well as restaurants and room for four kiosk units. Developers have revealed that the work, once completed, will provide 500 new permanent positions and boost the attractiveness and competitive nature of the south-east shopping complex in times of economic turmoil for many companies within the retail sector.
David Pollock, retail development manager for British Land, said: "The extension and refurbishment will create additional space that will allow us to attract and accommodate new and exciting retailers, ensuring that Surrey Quays remains competitive in today's market. The current shopping experience will be significantly improved for both existing and new customers."
The developer stated that the current stores will remain open during the construction work as to avoid minimising the potential for retail sales. On top of the £30 million already committed to extending and renovating the Surrey Quays site, a further £4 million will be invested to improve the links to the shopping centre's station as well as revamping Canada Water bus and tube stations.
This latest plan is just one of a plethora of retail developments going on in the capital after it was reported by Building.co.uk that the Oxford Street Selfridges was to be expanded under the guidance of world-renowned designer Renzo Piano.
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