Hope for 650 jobs in £70m Stafford Riverside scheme

A £70 million shops development that could create 650 jobs in Stafford was announced this afternoon.

Stafford Borough Council and Staffordshire County Council revealed that property investor LXB Retail Properties has snapped up the old Riverside Recreation Centre site in the town, together with the leasehold interest in the Bridge Street multi-storey car park.

The two councils are also in advanced talks with LXB over the purchase of the town's Kingsmead car park site which they have been marketing since 2009.

LXB say outline terms have already been conditionally agreed to lease the "anchor" store on the Riverside site to a major retailer.

It is expected the schemes will create around 650 jobs and provide more than 1,600 car parking spaces.

The former recreation centre land, now a car park, would provide 220,000sq ft of retailing while the Kingsmead site has been earmarked for retail development of 70,000sq ft.

A planning application is expected to be submitted within months with construction work anticipated to start next year.

Council leader Councillor Mike Heenan, said: "This is tremendous news. The boost to our economy will be far more than the £70 million value put on the schemes, and it demonstrates that Stafford is a place where companies want to invest."