STOCKPORT TOWN CENTRE DEVELOPMENT WORK PROGRESSES

Stockport Town Centre Development Work Progresses

With the way Stockport has evolved in recent years, you would be forgiven for thinking the local council would take a break to re-evaluate their next step. There have been many changes in Stockport of late, but thankfully, it looks as though there are many more changes to come.

The local council has begun the search for a development partner. The new partner is expected to deliver the residential component of the transport interchange in the town centre. This development is likely to cost around £120m and will feature 196 apartments, which is an excellent addition to the town.

The exchange is set to have a green roof, and more public space will be opened up alongside the River Mersey. It is hoped that access routes and connectivity around the railway station in Stockport will be improved. There is also optimism about a Metrolink route being added, offering another fantastic route to and from Manchester.

A new development partner needed for Stockport work

Stockport Council has issued a tender for a new development partner with the cost set to come in at around £40m. The new partner will invest equity into the project and will also be active in the securing of funding in the delivery of the residential scheme.

£10m is set to come from the local council and the Greater Manchester Combined Authority, boosting the viability of the project. The tender documents state the approach includes “identification and delivery of value engineering opportunities and maximising gross development value and financial returns to stakeholders”.

Announcement set to be made later this year

The development partner will also manage the assets for a set period once the project has been completed. A decision over who the partner will be is expected to be made in November of 2019.

The local council expects the scheme to take around three years to complete with BDP in place as the lead designer for the project. This company will assist in landscape design, architectural work and lighting design.

It is pleasing to see that there is still scope for further development in and around Stockport. The town centre work is hugely important and will sit at the heart of the local area. There is a need for this work to be completed to a high standard, which is why it is critical to find the best partner.

With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html

 



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