Summer Row may be built in phases

Wolverhampton's planned £300m Summer Row shopping centre could end up being built in phases, the city's regeneration chief said today.

Councillor Paddy Bradley, who is overseeing the project for the Conservative-led city council, said all options would be considered in getting the project off the ground.

The development, described as vital to the future of Wolverhampton, is currently stalled due to a lack of funding after a consortium of Irish backers pulled out of giving half the money in December 2008.

Negotiations are now being held with other investors to try and make the city centre shopping complex a reality.

Councillor Bradley said today that whatever the outcome of the discussions, all avenues would be explored to ensure it goes ahead.

She said: "We might have to look at the designs because of the money situation.

"I understand that the developers are having very useful discussions. We're going to have meetings and looked at what we have going for us. We don't want it scaled back."

The showpiece development, to be anchored by Debenhams and Marks & Spencer, would also feature restaurants, cafes and 140 apartments.

Developer Multi has spent months trying to secure half of the cash, around £150 million, to allow it to go ahead. Councillor Bradley said she would be prepared to consider the centre being built in phases, in the same way as the £176m bus and rail interchange is.

The £22.5m bus station part is under construction with the revamped railway station, hotels, offices and bars due to follow

"If that's how we have to do it then we will look at that", Councillor Bradley said.

"It's no use having a grand scheme which looks wonderful on paper but that there's no chance of getting made into a reality.

"Summer Row must be built — it is essential to this city's regeneration." The developer wants to get the scheme stated before the turn of the year.

Compulsory purchase orders on around 200 businesses that will have to be knocked down to make way for the 600,000 sq ft development run out in February next year.

In December last year, consultants from Ernst & Young were appointed to get the project, that will transform rundown streets around Snow Hill, back on track.

Wolverhampton City Council revealed in February it was considering taking a bank loan of up to £20m to help lure potential investors.

The Summer Row development is one of a number currently earmarked for the city including a £36.9m new magistrates court planned for Fold Street car park.