Addington Capital has submitted a planning application for a £3m redevelopment of Charter Walk Shopping Centre in Burnley.
The plans include a reconfiguration and refurbishment of the Market Square area of the shopping centre. The existing eastern side of the Square will be reconfigured to provide three double height retail units ranging from 6,000 sq ft to 10,230 sq ft over two trading floors. The existing café in the Square will be removed and replaced with a 1,335 sq ft unit with additional external seating.
London-based Addington Capital was set up in 2010 by former CIT Group directors Martin Roberts and Matthew Allen. Alex Wagstaff, partner at Addington Capital and formerly at Modus off-shoot Spectrum, said: "We are excited about our plans for the scheme. Modern retailer requirements have evolved and we intend to provide the calibre of premises that they expect and are being offered in other towns. We need to react to this change in requirements in order to retain and attract quality retailers to the town for the long-term. We feel our plans will strengthen the town centre which in turn strengthens the attraction of Burnley as a retail destination and therefore attracts other like minded retailers."
Subject to obtaining the necessary consents, redevelopment work is planned to be completed by the end of 2012.
Located in Burnley town centre, Charter Walk Shopping Centre comprises 365,000 sq ft of retail floor space accompanied by 15,000 sq ft of office accommodation and a 77,000 sq ft Market Hall. Charter Walk has 737 car parking spaces and welcomes over nine million customers a year.