New £250m opportunity as part of UK’s largest town centre regeneration in Stockport
The Stockport Mayoral Development Corporation (MDC) has today revealed the latest development opportunity within the town centre’s major £1bn transformation, one of the largest town centre regeneration currently underway in the UK.
The MDC is seeking a long-term joint venture partner for Stockport 8, an 8-acre site in the centre of the town, to create a new digitally-capable, walkable neighbourhood comprising over 1,000 new homes. Early stage plans also include retail, leisure and office space.
The site, which is estimated to be worth up to £250m, is adjacent to the town’s historic viaduct, and the Stockport Interchange – a major new redevelopment in partnership with Transport for Greater Manchester which started on site in March and will see the creation of a new urban park, alongside enhanced connectivity.
The site is also located a stone’s throw from Weir Mill, a heritage landmark building which is to be sensitively restored in partnership with Capital&Centric, to create new commercial space and establish a new leisure and culture destination for the town.
Established by Andy Burnham and chaired by Lord Bob Kerslake, the former head of the Civil Service and the first chief executive of the Homes and Communities Agency, Stockport Mayoral Development Corporation (MDC) is the delivery vehicle for GMCA and Stockport Council’s regeneration plans across a 130-acre district called Town Centre West.
The masterplan will see Stockport become the most sustainable, liveable town centre in the Greater Manchester region. The plans will see the delivery of up to 4,000 new homes, 1million sq ft of new employment space, major public transport improvements, new green space and local amenities and attractions over the next 15 years.
Andy Burnham, Greater Manchester Mayor, said: “This new site offers an exceptional opportunity to be part of one of the leading regeneration projects right now, not only in Greater Manchester but across the UK. Stockport is already one of our best-connected business locations, with fast transport links to Manchester, Birmingham and London, and the transformative plans being delivered by the MDC and its experienced partners will secure its future as one of the best town centres in the country to live.
“The MDC is a powerful tool to bring about rapid change, and is set to add £117m to the local economy every year. I’ve no doubt that Stockport will be recognised for generations to come as a benchmark for what can be achieved through place-focused, locally led regeneration.”
The only MDC with a focus on town centre transformation, Stockport MDC brings together powers devolved to the Greater Manchester mayor combined with strong local leadership from Stockport Council and the long-term commitment of the government’s housing agency, Homes England, to deliver an ambitious vision for the future of Stockport town centre.
Stockport MDC has already delivered more than £175m of development since 2019. Stockport Exchange, which created 64,000 sq ft of new Grade A commercial office space adjacent to Stockport Station, alongside dramatic public realm improvements. Delivered in partnership with Muse Developments, future phases of Stockport Exchange are currently being delivered.
In addition, The Mailbox, the first town centre build-to-rent scheme in the UK, completed in 2020, achieving record rents and high occupancy levels.
Lord Bob Kerslake, chair of the Stockport MDC, said: “In Stockport Town Centre West we are not just building new homes and creating new jobs, we are enabling sustainable, long-term inclusive growth for the region.
The potential in Stockport is unparalleled. As one of the North West’s biggest towns, it benefits from its unrivalled location and connectivity, and the plans for Town Centre West, which will create new social infrastructure, green space, and greener travel opportunities, will continue Stockport’s success.
Our vision and principles, the cross-party political support and knowledgeable and experienced board and partners means we are well-placed to deliver meaningful change that will ensure Stockport prospers for years to come.”
Stockport MDC will be considering potential development partners for the 8-acre site for following the launch of the procurement exercise this summer.
