OFFICIAL plans for a major redevelopment of a busy street spearheaded by Oxford City Council should be submitted by the end of June.

The council, which owns 1-5 George Street, said in September that it wanted to knock the buildings down and build a new complex to increase returns in rent and increase floorspace.

The authority said most of the tenants in the buildings have been moved out and security hoardings have been put up outside them.

Planning bosses first considered refurbishing its buildings but last year said it would be better financially to build a denser development rather than refurbish it.

The council said the site is currently earmarked for new restaurants and offices.

Oxford City Council’s interim regeneration and economy programme director Ian Gray said: “There is a lack of quality office accommodation in the city centre, so this scheme format has considerable benefits in providing central office accommodation for businesses wanting to remain in a central location and potentially for attracting new businesses into the area.

“This regeneration project also represents good value for money as the completed development should greatly improve the council’s revenues.

“But above all, the provision of grade A office accommodation in the heart of the city is a major consideration.”

If plans are submitted by council officers by June, they might be given the go-ahead by city councillors later this year.