The site, called as the Nicholson Quarter, is located in the High Street and Broadway. Credit: Areli Real Estate Limited.

Developer Areli Real Estate has secured approval in principle from the planning authority for a £500m proposal to redevelop the Nicholsons Shopping Centre and the surrounding area in Maidenhead, UK.

The approved plan forms part of a wider plan to regenerate Maidenhead, which will lead to the creation of up to 2,700 jobs and the provision of around 653 apartments, new office accommodation and retail space.

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In addition to proposals for opening up historic streets and thoroughfares, the planning application also details creating a Sir Nicholas Winton public square.

Called the Nicholson Quarter, the site is located on High Street and Broadway.

The proposal will see the provision of a new multi-storey car park.

Councillor Andrew Johnson said: “The £500m proposals for the Nicholson Quarter have been called the blueprint for all future UK town centre developments and I’m delighted that those plans and that investment is one step closer to reality following the approval in principle of this planning application.

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“At a time when the future of our high streets and town centres is at the centre of the national debate around the economic recovery, I am proud that Maidenhead is leading the way in shaping that future by approving the UK’s first major town centre regeneration proposal following the coronavirus pandemic.”

This project will create around 653 apartments, out of which 307 will be kept aside for sheltered accommodation, around 29,000m² for office space and about 8,300m² for retail space.

It will also replace a range of buildings, including the shopping centre, offices and 17 dwellings. Central House and Siena Court are also likely to be demolished.

The planning application was unanimously approved at the Development Management (DM) Panel last week.