Stannifer, which is battling with Tesco and LxB to redevelop High Wycombe town centre, has submitted a planning application for a 650,000 sq ft (60,385 sq m) scheme, in advance of its exclusive development agreement with Wycombe District Council expiring at the end of the month.
The Project Phoenix mixed-use scheme would provide a covered shopping street and full-line department store linked to the town's existing Octagon Centre. A Stannifer spokesman said: 'This is the furthest anyone has got on the site.' Developer MAB's plans for the site fell though in 2001.
Stannifer was appointed as the council's preferred developer after it acquired the Octagon Centre from Great Portland Estates in November 2001.
Stannifer chief executive Ron Barrott said: 'Stannifer has spent 18 months preparing these plans and engaging in public consultation. During this period, it has become very clear that a high-quality scheme that can be delivered as soon as possible is required. And that is what we will provide.
We are already in discussions with key retailers and leisure operators and have virtually finalised the department store deal.'
LxB, formed following Hammerson's takeover of Grantchester last year, hopes to put its case for undertaking a£200 million development, almost double the size of Project Phoenix, once Wycombe District Council's exclusive agreement with Stannifer expires on July 31.
LxB property director Nick Alford has questioned Stannifer's 'long-term legal position on the site'. However, Barrott maintains Project Phoenix has met 'all legal and planning requirements' and can be delivered in the shortest time of any of the proposed developments.
Tesco drew up plans with Shearer Property Group for its own rival scheme after Stannifer's proposals failed to include a new store for the supermarket. Stannifer's spokesman said: 'Stannifer is still talking about how the existing Tesco can be incorporated into Project Phoenix.'
Stannifer says work could start on site next year, with the Project Phoenix scheme ready to open in spring 2007.
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