■ Designed by the renowned Foreign Office Architects, the centre would use the city’s medieval walls as a backdrop.

It is organised around a 3,500 square metre public plaza, complete with water features, designed to host a range of events from farmers’ markets to live music and entertainment and even an extension of the Southampton Boat Show.

■ Ringed around the edge would be a series of “white tablecloth” fine dining restaurants, forming a dining quarter intended to keep the centre busy throughout the day and into the evening.

■ Shoppers would also be able to enjoy the latest films in a multiscreen cinema.

Hammerson is thought to be in advanced negotiations with a “luxury” cinema brand offering waiter service in the auditoriums.

■ Speculation had centred on department store House of Fraser being one of the anchor tenants, but the smart fashion and homeware retailer has itself run into problems because of the credit crunch.

■ Above the shops would be a hotel, complete with a grass lawn for guests on the roof.

■ Towering above the whole development would be a block of 200 flats – a mix of one, two and three-bedroom apartments.