Major Shopping Centre Development Underway in Thurrock
- Intu submits plans for a £168m development at Lakeside centre
- Extension of around 40,000 sqm retail space proposed
- New department store and additional shops and restaurants planned
- Current Debenhams store to be partly demolished and rebuilt
- New bus station and multi-storey car park included in plans
- Construction expected to last three years, creating 1,500 new jobs and 900 indirect jobs
Shopping centre operator Intu has submitted plans to Thurrock Council for a £168 million development of its Lakeside centre. The proposal includes extending the centre north and eastwards, creating around 40,000 sqm of retail space with plans for a new department store and floorspace for shops, cafés, and restaurants. Approximately 30 to 40 new stores are proposed. The current Debenhams store will be partly demolished and rebuilt to facilitate the extension, and a new bus station will also be created on the east side, close to the local train station. Additionally, a public space and multi-storey car park at the northern end for replacement parking, alongside greater pedestrian and cycle links, are included in the plans. Construction is expected to last three years, with Intu claiming the new development will create around 1,500 new jobs and 900 indirect jobs.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the proposed £168m development of Lakeside centre, including details on the extension, new stores, and job creation. However, it lacks personal perspective or opinion, making it a factual news report.
Noise Level: 3
Noise Justification: The article provides relevant information about a shopping centre’s expansion plans, including details on the proposed development, job creation, and potential benefits. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: The proposed £168m development of Lakeside centre may impact the financial performance of Intu, Debenhams and other retailers in the area. The construction process is also expected to create around 2,400 jobs.
Financial Rating Justification: This article discusses a significant investment in a shopping center and its potential effects on the companies involved.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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