The scheme includes 550,000 sq ft of retail space, anchored by two large department stores with Debenhams in 103,000 sq ft and Marks & Spencer in 75,000 sq ft. There will be a number of large double height, flagship units ranging from 10,000 to 20,000 sq ft each, one of which has been pre-let to Next, with another under offer to River Island and a further 50 standard shop units. Joint letting agents for the retail space are CBRE and Gooch Cunliffe Whale.

The leisure quarter will total 120,000 sq ft, including a 10-screen cinema pre-let to Vue, a 25-lane ten pin bowling facility pre-let to AMF, a 20,000-sq ft bingo unit and eight family restaurants, including one already under offer to Pizza Express. The scheme will also include 397 residential units and a 1,250-space multi-storey car park.

Thornfield is also building new healthcare facilities following a pre-let agreement with Bury Primary Care Trust for a new 40,000-sq ft medical centre, which is due to open as early as November 2008. A £10m link road connecting the north and south parts of the site has already been completed by Thornfield.

The funding package also includes £20m for the development of Thornfield’s 270,000-sq ft Thornaby town centre regeneration project, which also started on site recently and is due for completion in Spring 2009. The scheme is anchored by a 100,000-sq ft Asda with other units already pre-let to Wilkinson, Peacocks and New Look. The new scheme will move Thornaby town centre into one of the top 25 retail centres in the North East.

Thornfield chairman Jason Marcus said: “The main start on site for these important regeneration projects sends a strong signal to our council partners and to the market place in general, that we are well set to deliver major projects in the face of tough market conditions. We are very confident in the quality of our schemes and are prepared to take a long term view to back up that confidence.”

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