Under the proposals for Central Square, the current Asda supermarket would be redeveloped and new shops, cafes and restaurants built on an adjacent car park site.

Sovereign Land’s plan also includes the building of a bus station, hotel and cinema complex.

A planning application is expected this summer with work due to start next spring, when Asda relocates from the site to its new home on the site of Telford & Wrekin Council’s former offices.

Sovereign Land chairman Tim Binnington said: “The shopping centre is currently celebrating its 40th anniversary and, while that’s a good opportunity to consider the past, it’s also the perfect point to look towards an exciting future.”