Bolton Town - Let the spending commence!
Updated: Oct 19, 2018
Gerry Brough a Director at Bolton Council is calling it the "Decade of delivery". But what is about to happen in Bolton and how will its £1bn plan start to take shape?
Bolton Council will be joining the likes of Capital & Centric, JMW and Airport Manchester in sponsoring this years Property Lunch held in Manchester, an annual gathering of some of the industries leading developers and investors.
This forms part of the kick-off strategy that will see over a £1 billion spent on a complete restoration and regeneration of the Bolton Town Centre.
"The investment is a fantastic opportunity for Bolton to establish itself as a major player within the Northern Powerhouse and will generate huge economic benefits for the region." Gerry Brough
Just last week we saw a huge international consortium, which includes China's second biggest construction firm, commit £250 million to the Crompton Place shopping centre in the heart of the town. The private investors are also expected to play a big part in the towns plans to become one of the key regional players in the coming years.
According to Mr Brough, Midia were close to striking a deal in December but the council withdrew from the negotiations due to time restrictions.
“Midia has a successful track record of delivering major schemes and along with its investment partners, chose to invest in Bolton because we are one of the few towns in the UK with a ready-made and deliverable plan. "
The towns master-plan consists of four “intervention zones” and Bolton Regeneration Limited (BRL), led by development specialist Midia and including the giant Beijing Construction and Engineering Group International (BCEGI), has been offered the opportunity of developing three of them.
They are Croal Valley, Cheadle Square and Trinity Quarter. The fourth, Church Wharf, is going to be developed by MUSE.
The regeneration that is to take place in Bolton over the next decade is sure to have a significant bearing on the towns economy. Already we are seeing a boost in job opportunities, improved transport links, increasing property prices and a growing population.
“Beginning with the creation of a state-of-the-art retail and leisure destination at Crompton Place, the Masterplan will ultimately deliver 1,800 new homes, 7,400 new jobs and £412 million of additional economic activity. "
Many are expecting Bolton to become the key commuter town in to Manchester city centre but with the "master-plan" in place, the town could have a far more significant role in the region.