The Crown Estate has submitted a planning application for a £29m redevelopment of the Silverlink Shopping Centre in Newcastle.
The proposal would see the former Travelodge opposite the park replaced with 102,000ft2 of new retail accommodation split into four units.
Subject to planning, work will start on site in spring 2015, with an anticipated completion date of autumn 2016.
The Crown Estate regional portfolio manager Hannah Milne said: “Redeveloping the former hotel will allow us to bring new retailers to the park, further enhancing the shopping experience for all. At the same time, we will be creating a number of jobs locally as well as improving highways infrastructure.”
Welcoming the new development, Norma Redfearn, Elected Mayor of North Tyneside said: “This exciting new development is great news for North Tyneside as it will bring further investment and jobs to the borough as well as attracting many more visitors to the very popular Silverlink complex with its quality shops, restaurants and cinema.
News of the development comes after the British Retail Consortium announced on Monday that high street shopper numbers were down by 1.4% in October, compared with a rise of 1.9% for out-of-town shopping centres.
Silverlink Shopping Park currently comprises over 200,000ft2 of retail accommodation housing brands like M&S, H&M and Next.
The Crown Estate is the UK’s fourth largest direct owner of regional shopping and leisure parks.
Its portfolio, includes 16 parks across the UK and is currently valued at around £1.8bn.