Nottingham's Broadmarsh contract signed by owners and council

The proposed investment will see Nottingham City Council and intu spend £150m on the Broadmarsh centre

The investment will be spent on a redevelopment of Broadmarsh, the car park and public realm improvements

It is hoped a planning application will be submitted in the autumn and work could start in 2015

A multimillion-pound agreement to revamp Nottingham's Broadmarsh shopping centre has been signed.

Nottingham City Council and owners Intu have signed a £150m provisional contract to redevelop the complex including its car park.

Part of the agreement stipulates that Intu will complete the changes to Broadmarsh before finishing its £40m redevelopment of the Victoria Centre.

It is hoped a planning application will be submitted in the autumn.

Intu originally wanted to develop the Victoria Centre first but the council said Broadmarsh was a priority because of its situation as "gateway to the city" from the railway station.

Jon Collins, city council leader the redevelopment of Broadmarsh would "significantly enhance the southern side of the city".

Intu has been working with an architect for more than a year and plans to showcase its ideas in the summer while canvassing shoppers and potential businesses.