Summer Row may be scaled back
Tuesday 24th February 2009, 6:11PM GMT.
The £300 million Summer Row shopping centre dream for Wolverhampton could be scaled back to allow it to become a reality, it emerged today.
The long-awaited showpiece complex to be anchored by Debenhams and M&S has been hanging in the balance for months after a crucial finance deal with three Irish businessmen collapsed.
Work to build the 600,000 sq ft centre in Snow Hill had been due to start in March but has now been called off until a backer is found for half the cash.
Multi Development, the firm behind the 85-store complex, insists talks to find the remaining £150 million are continuing. But a source close to the development revealed today the designs could be massively scaled back if investment is not forthcoming.
“Realistically it could take years for the development to go ahead,” said the source. “There has been no progress in finding the money and one of the plans now is to scale back the design.”
Council spokesman Steve Boyes said: “There is planning permission in place and that is the scheme that will be built as things currently stand. If Multi wish to look at different ways to deliver Summer Row, they would need to talk to the council about that.”
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Well what a laugh, workers on wolverhampton council get made redundant, so can ask where the money is coming from!, As it grown on a tree or something over winter,look out for masive council tax rises,!!!!!!!
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There’s a surprise.
There was always the suspicion that this place could become a gigantic white elephant that swallows most of the city centre.
The credit crunch could do us some sort of favour after all.
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Having seen the no of shops lying empty in our two existing shopping centres and the present economic situation it would seem madness for some investor to step in and fund even half of this development. Having run my own business in Wolverhampton city centre Ii know that rents can be crippling for struggling retail outlets and unless the owners of shopping centres like the Mander centre wake up and give shopkeepers rent concessions the certainty will be more and more businesses going bust to leave a ghost town.
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This is almost becoming a running joke. To be honest they would almost be better to think of something else to do with this space.
As someone who has to live with the eyesore of wasteland and rot every day out of my front window, I feel anything would be better than nothing!
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Suprise suprise…
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we dont need a masive center, the one we have already is alright, plus i can imagine the price of parking would go up to a stupid amount then who’s going to come.
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I think scaling it back makes sense. Half of Wolverhampton looks like Beirut and it’s about time something was done about it! Plus the shopping is awful in comparison to other towns and cities of a similar size.
Get your act together Wolverhampton, even half a development would be better than none at all and it may revitalise the town so people shop here rather than in Brum or Telford!
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This city needs a development the scale of the original Summer Row. The current setup means we are way down the league from even modest towns never mind other cities.
There are many retailers that are absent from Wolverhampton that drive shoppers to MerryHell or Birmingham.
Like it or not, the manner in which Bullring is now flourishing is such a shining example and I have to give kudos to Birmingham city council for their smooth execution on this one for a change.
However, at the current time, the people I feel most sorry for are the businesses that have folded or relocated due to the impending compulsory purchase orders to make way for Summer Row.
Pull your socks up Wton council – investment like this creates jobs and we wont always be in a recession. Invest for the future, for growth and show how much you really believe in this town…sorry City!
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To the respondent who compared Wolverhampton to Beirut. Have you been to Beirut ? It’s got 3 major shopping centres, a magnificent marina and a beautiful city centre as befits a capital city with a 2m population.
It’s also got traffic jams, major pollution, a large proportion of the population that carry guns and a paramilitary police force.
For facilities I would choose Beirut over Wolverhampton but for quality of life give me Wolves every time !
(written from Lebanon)
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This has potential to become the next plot of land that stands unused/undeveloped for a decade like the Sainsburys / Tesco farce that has blighted the ‘city’ for so long – Wake up Wolverhampton Council have a look at surrounding areas ie Telford shopping centre is going to be completely redesigned and rebuilt and is near enough for us all to go to. Look and learn.
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I would like to know where Ben shops as he says wolves is ok has it is, all thats here is pound shops and phone shops.
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