UK Coal has put forward plans aimed at significantly increasing its UK commercial property portfolio.

Under the proposals submitted to planning authorities in South Yorkshire, the energy firm intends to redevelop its former coke works and mining site at Catliffe, located midway between Sheffield and Rotherham.

Construction on the brownfield site would include a number of restaurants, retail developments, a sustainable transport system and as many as 4,000 new homes.

Through the initiative, UK Coal will see its property portfolio increase in value from £344 million to £411 million, while a similar development is also planned for the former Prince of Wales Colliery site in nearby Pontefract, West Yorkshire.

Commenting on this latest project, a company spokesman said: "It will create a magnificent small new town of highly sustainable environmentally sound and aspirational housing alongside a mix of commercial development that could over the period, produce in excess of 10,000 jobs."

At the end of last month, Land Securities chief executive Francis Salway confirmed that the current commercial property downturn is likely to carry on for some time, though the long-term outlook is more positive.