A major redevelopment and refurbishment of the Centre was undertaken in 2003 with work starting in January and completing in October. The redevelopment involved the demolition of one side of the mall and its replacement with 3 large units at ground floor, with additional space at first floor. The new development comprised approximately 35,000 sq ft with new tenants including New Look MK One and Home Bargains. The remaining elements of the Centre were refurbished at the same time with new lettings to Gamestation and Connexions.
The scheme was officially opened and renamed Gaolgate Place on December 11th 2003 by Mrs Glenys Roe who was the winner of the naming competition held before the scheme was undertaken. At the same time a sculpture by Glynis Owen commissioned for the scheme was unveiled by the Mayor, Councillor John Russell. The sculpture, entitled “Stafford Faces”, is a concertina structure of eight tall, narrow panels featuring an alternative frieze of local historic buildings and famous faces including Queen Elizabeth I and the 18th Century playwright Richard Sheridan.