A multi-million pound development, set to create 300 jobs, on a Llandudno Junction site has been scrapped.

Conwy County Borough Council (CCBC) planning committee approved a £40 million proposal from preferred developers Conygar Investment Development to rebuild facilities on the former Brickwork Markets site next to the Junction Leisure Park.

The scheme included a supermarket, petrol station and four new restaurant facilities - including a relocated Pizza Hut - along with more than 1000 additional parking spaces, adding to the hundreds already in place for the cinema and existing eateries.

However, in a report released yesterday, Conygar Chairman and Chief Executive, Nigel Hamway and Robert Ware, said they would be altering their plans because of the current economic climate.

The pair, in the report, said: "We have written off the value of our £0.8 million investment in the Llandudno Junction Project.

"We have been working in partnership with Conwy County Council as its preferred development partner to bring forward a 90,000 square foot retail park.

"The outlook for retailers is difficult and we believe that we will be unable to deliver the retail park as planned.

"However, we hope to devise alternative schemes for the site."

While the plans are set to be altered CCBC councillors said they would still continue to work with their preferred developer to assure something was placed in the former Brickwork Markets site.

Cllr Sam Rowlands, cabinet member for finance and resources said: "We will continue to work with Conygar during the contractual period, as well as other partners, to deliver the best possible solution for the Brickworks site in Llandudno Junction.

"It is a strategic site in North Wales and could deliver much needed additional employment and has the potential to release further economic opportunities for the Conwy area.”

Marl Ward - the area in which the former Brickwork Markets site is located - councillor Mike Priestly added: "Obviously it's disappointing.

"However, this is a reflection of what is happening across the UK at the moment.

"But I will be looking to work with all involved on the development of the site to make sure something is put there that benefits, not just those in Llandudno Junction, but in Conwy as well."