Revised plans were proposed by Centros in March 2012 but they were never submitted as a Planning Application.  There was still significant community resistance and the global economic situation remained fragile with poor returns on retail investments.

The revised scheme comprised:
· An open pedestrian shopping street leading from Stonewell to a new public square, with multiple pedestrian links to and from Moor Lane, the canal towpath and St Leonard Gate
· A new department store, a variety store and around 30 other new shops including a supermarket
· New cafés and restaurants
· A broad surface-level Toucan crossing at Stonewell and landscape enhancement of lower Church Street, including a shared surface with pedestrian priority
· New public squares in the centre of the scheme – also on St Leonard Gate, on Moor Lane, St Anne’s Place, Stonewell and adjacent to the canal / Heron Works
· A new public park leading up from Alfred Street to the Lancaster Canal
· Re-housing of the much-admired Lancaster Musicians’ Co-operative in the restored Brewery Building
· Creation of a restaurant quarter adjacent to the Lancaster Canal – utilising refurbished Joseph Storey buildings and the courtyard
· An enhanced canalside environment
· Re-engineering of the Parliament Street/Caton Road highways network to provide much-improved road access for the city – as before
· 800 car parking spaces including part undercroft below the new retail street – providing direct pedestrian access to Stonewell, the historic city centre and both theatres
· New residential accommodation, including a terrace of cottages on Alfred Street.

The significant changes to the scheme include:

· Removal of the proposed pedestrian bridge over Stonewell
· Upgrading of the public realm on lower Church Street, Stonewell and lower St Leonard Gate, including a much-improved pedestrian crossing
· Retention and re-use of the listed malthouse building and adjoining brewery tower and courtyard buildings
· Retention of parts of the Joseph Storey/Heron Works
· Part retention of Swan Court
· A 20% reduction in the overall commercial floorspace to 34,500 sq m.