A part of a special series, this month Hugh Strickland, a corporate lawyer at Aaron & Partners, answers your questions regarding shareholders’ agreement.
Shrewsbury’s New Riverside Shopping Centre delayed
Plans for a new £150 million shopping centre in Shrewsbury have been delayed for at least two years it was revealed today.
When the proposals for the New Riverside shopping centre were given the go-ahead last April it was planned work would start this summer with completion in 2015.
The development would see the existing Riverside Shopping Centre bulldozed and rebuilt with links created to the Darwin and Pride Hill centres.
A giant two-level shopping complex on the site of the current centre, would house a department store, 50 shops, office space, 10 restaurants and cafes creating over 700 new jobs for the town. A 300-space underground car park was set to be constructed with the existing Raven Meadows multi-storey car park refurbished and the bus station entrance improved.
Shearer Property Group, one of the companies behind the plans, said today the economic climate had put an uncertain future on the development which was being regularly reviewed, and that the company was fully committed to the project.
Shearer Property Group and Ignis Asset Management, the developers behind the plans, are continuing to work with Shropshire Council on the project.
With only one month to go until the annual Cosford Food Festival, organisers are lining up amazing live talks and hands on demonstrations for visitors.
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