Wycombe District Council has granted outline planning consent to Kennet Properties, the property subsidiary of Thames Water, for the£50 million development of High Wycombe's largest retail park.
The consent is part of a wider retail-led mixed-use scheme for the Wycombe Marsh site. Phase one comprises a 10,000 sq m retail park, two restaurants, a community centre and 135 homes. Phase two will include a further 350 homes.
Morgan Williams is joint retail letting agents with Smith Price. Smith Price partner Robin Smith said: 'This will be High Wycombe's largest and most modern retail park, and there will be an enormous demand for the scheme - many retailers have outstanding requirements for space in the town which lacks well located, high quality modern retail space.'
Work is due to start on site in mid-2003, with completion by Autumn 2004.
The redevelopment of the former paper mill site will provide on five retail units, with a bulky goods planning consent and a 365 space car park.
The two restaurant units will be situated next to the retail park on the banks of the River Wye.