A multi-million pound multiplex cinema, shops, restaurants and flats scheme is set to be built in Redhill town centre.
For Reigate and Banstead Borough Council has chosen CoPlan Estates as its developer partner for the retail complex scheme, opposite the main entrance to the Belfry Shopping Centre – a prime retail pitch.
The development will replace the council’s Marketfield Way car park, as well as 12 retail units with offices above from 18 to 44 High Street. The six-screen cinema, four large glass-fronted retail units and four family-style restaurants, which will be let to well-known national chains, will front onto the High Street and Marketfield Way, with 90 apartments above and parking.
A borough council spokeswoman said the over-all cost of the scheme is not in the public domain because of commercial confidentiality.
She said: “The council will sell the site to CoPlan, subject to them securing planning permission and occupiers for the premises.”
She said: “It is anticipated that a planning application for the development will be submitted in the autumn.”
Natalie Bramhall, borough council executive member for property and regeneration, called the scheme “crucial for the over-all regeneration of Redhill.”
Coun Bramhall said: “CoPlan has come up with a fantastic scheme that not only meets but exceeds our requirements.
“This redevelopment is crucial for the over-all regeneration of Redhill. It will greatly improve the town centre’s retail offer and evening economy, making it a more vibrant place where residents and those that work here will want to shop, eat out and spend their leisure time.”
Nick Doyle, director of CoPlan Estates, said: “We're delighted to have been selected as the council’s preferred partner for the regeneration of this important town centre site.”
Mr Doyle said: “We are excited by the potential of Redhill and share the council’s vision that this site will provide an ideal opportunity to strengthen the existing retail and leisure offer.
“Interest in the scheme from potential occupiers has been extremely positive. “The site’s location has also opened up an opportunity to deliver residential uses above, which is much needed and will add to the vitality of the scheme.”
He said: “We will now complete the legal arrangements, with work commencing immediately on moving the proposals forward in readiness for a planning application this autumn.”
CoPlan Estates were chosen after a European Public Sector (OJEU) tendering process. Ten initial expressions of interest were received following the OJEU advertisement, with six parties invited to submit initial bids. Four bids were received and two final bidders were selected – Co Plan Estates and Bridehall.