Australian contractor will start work on increasing retail space at Friars Square in summer 2008

Multiplex has purchased the Friars Square shopping centre in Aylesbury, Buckinghamshire.

The centre has been bought for an undisclosed price from F&C Property Asset Management and a discretionary client of CBRE Investors.

The company said plans for the site are still in their infancy but it is looking to increase space available for retailers and create more commercial opportunities.

Multiplex UK chief executive, Jayne McGivern, said: 鈥淚 am delighted that Multiplex has won this project which is an excellent addition to our growing retail portfolio. To capture this highly rated development opportunity is a real credit to Multiplex鈥檚 retail team and I look forward to the project getting underway.鈥�

Work will begin in summer 2008 and complete in 2013.

This will be the second scheme that Multiplex has undertaken in Buckinghamshire. Eden, a 825,000 sq ft retail and leisure scheme in High Wycombe, will open in March 2008.