MAJOR shopping giants are being linked with a massive redevelopment that would revitalise a run down part of Nuneaton town centre.
Documents `leaked' to the News show that some of the biggest names on the High Street may be interested in the site at the top end of Abbey Street.
They could be part of a multi-million pound shopping and leisure development that would transform that area of the town.
Borough council leader Dennis Harvey, writing in his column in this newspaper, revealed that the Abbey Street site is attracting interest and more details will soon be put forward.
He said: "The Kingsholme site, the old Ritz Cinema and the surrounding areas have long needed redevelopment and, hopefully, this will soon come about."
There have been growing complaints about the state of the derelict Kingsholme pub and the closed Ritz Cinema and Gala Bingo Hall on what is one of the main arteries into the town.
Negotiations are believed to be going ahead, but remain confidential because of their commercial sensitivity, but the News understands that shopping giants Morrisons, Sainsburys and Tesco could all be interested in what would be a prime position.
Morrisons are understood to have been looking to locate in or around Nuneaton for about five to seven years and are said to be `very keen' on the Abbey Street site.
A confidential report to the borough council's cabinet says that Sainsburys may consider their store in Vicarage Street is too small and there is not enough room for expansion and that other retailers, including Tesco, may also be interested in a planned large format foodstore at the top end of Abbey Street.
That could involve the Co-op car park which unconfirmed reports suggest has already attracted interest from a developer with links to a big name food store.
Several offers to rebuild in the Vicarage Street area of the town where the old Police Station and Magistrates used to stand are being assessed.
A new hotel, shops and offices could be built on the land that is jointly owned by the borough council and Warwickshire County Council.
Following on from the massive £27million redevelopment of the Tesco site in Bedworth, there are exciting times ahead for the borough that is `bucking the trend' and attracting new investment in its two towns.
