BLACKPOOL's Hounds Hill shopping centre is on the market. The sale by Henderson Global Investors, on behalf of Pearl Assurance Plc, offers a major development opportunity to triple the size of the scheme.

This will create a new department store, 24 new prime shop units and a multiplex cinema.

Commenting on the sale, Coun Roy Fisher, leader of Blackpool Borough Council, said: "The prospect of resort casinos has bolstered business sentiment in Blackpool which is now more buoyant than it has been for years.

"The good news is that new investors are looking at Blackpool and, therefore, we have a real opportunity to attract serious money to move Hounds Hill forward.

"This is a great investment opportunity for a high profile developer to help us become the successful retail destination we should be." Blackpool council has already resolved to grant planning consent for this expansion, subject to highways and parking agreements.

They will now work with Henderson and development consultants CB Hillier Parker to identify a suitable investor. Henderson bought the Hounds Hill centre in 1992. They acquired the freehold from Blackpool Borough Council in 1996 and further invested £5m in 1998 to refurbish the shopping centre.

Coun Fisher said the new route to raising the profile of town centre shopping would take time. "These kinds of developments and negotiations are complex, lengthy and difficult. While I am confident that, together with the current owners, we will give the people of Blackpool a shopping facility we can all be proud of, it will not happen overnight."

Rumour has it that the Hounds Hill's department store slot might just be reserved for British favourite Debenhams, which has 97 outlets across the UK and the Republic of Ireland.

It would certainly provide a powerful and much-needed boost to the town's shopping centre which has not boasted a department store since Lewis's closed its doors more than a decade ago.

Blackpool town centre manager Nigel Hanson said he hadn't heard Debenham's name mentioned in this regard. "But I would very much like to see Debenham's come into the town," said Mr Hanson.