25 May 2012 Last updated at 04:28 ET

Plans for Milton Keynes' Point building go on display

The famous Point building in Milton Keynes could disappear if plans for redevelopment go ahead

Plans to demolish a landmark building in Buckinghamshire and rebuild it as a shopping centre have gone on display.

The owners of The Point in Milton Keynes are putting forward proposals to replace it with "high quality" retail and restaurant units.

The pyramid-shaped building opened in 1985 as a leisure destination including a bar, nightclub and cinema.

It is now largely empty and developers say it no longer meets the needs of local people.

Its design, coupled with lights marking the outline of the building, meant that it could be seen on the approach to Milton Keynes from the M1 and the A5.

'Fond memories'

Developers, Hammersons say the existing building no longer meets the needs of residents and "has been superseded by other leisure developments in the city" such as the Theatre District and Xscape centre with its new cinema.

Following the public exhibition, an outline planning application will be made to the council.

Project director John Grinnell acknowledged that the building "holds fond memories for long-term residents" but they wanted to develop the building for a new generation.

"We want to revitalise the site with contemporary town centre shopping, cafe and restaurant units which meet the needs of business and which will serve the community for the next 30 years," he said.

"The floor space available to the operators and the arrangement of that floor space is simply inadequate for current trading purposes. It does not allow for the flexibility that leisure and retail operators actually need in today's world."

The outline proposals will be on display at the former restaurant in the Point on 25 and 26 May.