Capital & Regional has announced it is to carry out a £3 million refurbishment of The Mall Walthamstow.

The transformational design proposals mark the first step in longer-term plans to reposition the shopping centre, for which Capital & Regional is exploring the delivery of an 80,000 sq ft extension.

Capital & Regional's plans for The Mall Walthamstow will see the shopping centre aligned more closely with the evolving shopper demographic. The North East London town has been recognised as an up-and-coming area and Capital & Regional's plans will tap into this, recognising strengthening demand.

Spanning 250,000 sq ft, The Mall Walthamstow is part of The Mall Fund, managed by Capital & Regional and Aviva Investors. The revitalisation of the centre will begin in June this year and is set to complete in March 2015.

The refurbishment will include upgrades to shop fronts, floors and lighting. In addition, a bespoke ceiling feature will run through the shopping centre. The 'ribbon' will temper sunlight flooding into the building, and provide a dynamic backdrop onto which rays will be projected at night.

Proposals also include a contribution from Walthamstow-based neon lighting designer and founder of God's Own Junkyard, Chris Bracey, who will construct unique signage pieces for The Mall.

Capital & Regional is aiming to attract new retailers and encourage increased investment from current occupiers through the refurbishment programme. Vodafone, which has recently signed for a 1,800 sq ft unit, has already agreed to incorporate the new design plans into its store.

Mark Bourgeois, Executive Director for Capital & Regional, said: "Walthamstow is changing. Housing prices are set to rise 51% by 2020, as more affluent young professionals move into this highly accessible London borough. In partnership with the Local Authority, we are investing significantly in the town, creating an innovative and unique retail and leisure offer and a profitable trading opportunity for a whole new raft of occupiers."

The refurbishment of The Mall Walthamstow will coincide with Waltham Forest Council's redevelopment of Walthamstow's town centre, which is set for completion at the end of 2014. The Scene, which will transform Cleveland Place into a vibrant new residential and entertainment hub, will include a 9-screen Empire cinema and five restaurants, alongside retail and residential space. Both sets of proposals reflect the increasing desirability of Walthamstow and cement its status as an up-and-coming London borough.

The refurbishment of The Mall Walthamstow has been designed by conceptual architects, Silver & Co. and will be implemented by ESA.