DEVELOPERS are to revamp the existing Westgate shopping centre, a move that will raise fresh doubts about the £330m redevelopment scheme to create a new Westgate.
Capital Shopping Centres say they want to remodel and improve the existing centre, bringing in new retailers and extending some shop leases.
But the bid to spruce up the ageing shopping centre will add to pessimism about the starting date for the new shopping area, which was an early casualty of the economic downturn.
The company’s building agreement with Oxford City Council comes to an end in December.
And CSC is under pressure to show that the redevelopment is not being put back indefinitely, with the council’s Labour leadership set to seek assurances that it can be done “within a reasonable time period,” before renewing the agreement.
There is already mounting speculation that the plans for the John Lewis store may be substantially redrawn to bring down cost, with a new planning application having to be submitted.
CSC confirmed that it was moving ahead with modest plans to remodel the centre, in recognition that trade had been hit by its present “sad” appearance. It is now clear that the existing centre is not to be wound down to make way for a new John Lewis and other stores, a process that looked to have started when vacant possession was achieved for the 750,000 sq ft shopping area.
The redevelopment was put on hold in July 2008, with preliminary work having already started in the Westgate car park. Capital Shopping Centres yesterday would only put the starting date of the redevelopment as being “at least two years away,” with talks continuing with John Lewis and Oxford City Council. In an interview with Property Weekly Kay Chaldecott, managing director of CSC, said: “Now we have 100 per cent control we have opportunities to remodel and improve the centre.
“It has been looking sad and sorry for itself, which has affected footfall. Now we can improve it visually.”
It reported that lease extensions had been agreed with jeweller Goldsmiths and Aurora Fashions, which owns brands such as Oasis.
The Westgate improvements will include new stalls and shop frontages. But a spokesman played down the significance of the revamp, saying it was part of an annual programme to maintain its retail assets nationally.
The leader of Oxford City Council, Bob Price, said: “It is important to regenerate this part of Oxford. It is not looking brilliant at the moment. But I believe the bigger vision is still alive.”
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