ANOTHER shopping venture - a £9 million scheme - is to be built on the rapidly-growing Monks Cross estate on the outskirts of York.

The retail centre on three acres between Sainsbury's and the massive £90 million Monks Cross Shopping Park near Asda is expected to involve 50 jobs during the building phase.Work on the 35,000 sq ft development will begin before the end of the year and 50 more jobs are expected to be generated once it is completed in summer 1999.

The shopping scheme, involving four units, was approved by Ryedale planners and endorsed later by the City of York Council, but developers Huntington Ltd held back until the Monks Cross shopping park, due to open in September, was well advanced.

Peter Smith, a director of Huntington Ltd, based at Monks Cross, reports that he is negotiating with four prospective tenants, one for each unit planned on the three acres. "I cannot say who they are but all are big names and one is serious about occupying the entire site so we are confident of the venture's success, even at this stage," he said.Mr Smith and his colleague, fellow surveyor Hugh Ball, once linked forces with Bass in acquiring land at Monks Cross, including the Shopping Park site which was eventually sold partly to Asda for its new store and partly to Richardson Developments.The Black Country tycoons, the Richardson twins, began developing the shopping park, then agreed its sale to a trust consisting of Pillar Property, Schroders Exempt Property and British Airways.

Mr Smith and Mr Ball went on to develop the Sainsbury's site for £12 million and meanwhile acquired land in a horseshoe shape around the perimeter of the Richardson retail venture.

Mr Smith said that his organisation held back from pursuing development on the three acres until it was clear that there was a quality line-up of tenants on the 36-acre park.

As soon as it was clear that most of the shops would be rented by the likes of Burtons, Boots, Clarks Shoes and PC World, his project went ahead.

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