Bolton splits with £1bn city regeneration plan developers
Bolton Council has parted ways with the developers behind its ambitious £1bn town centre regeneration plans.
Developer Bolton Regeneration – a partnership between Chinese firm Beijing Construction Engineering Group International (BCEGI) and regeneration specialists Granite Turner – have agreed with the council to rip up the agreement.
A key part of the plan, the £250m redevelopment of Bolton’s Crompton Place Shopping Centre was due to start this year.
Now the council will have to find a new developer to take forward this project as well as its other planned Trinity Gateway and Le Mans Crescent projects due to be developed by Granite Turner.
The council said that as circumstances have changed over the last 18 months, a mutual agreement was reached with partners BCEGI and Granite Turner to surrender their options agreements on the projects.
Bolton Council leader, Coun Martyn Cox, said: “Although re-procuring development partners will extend the development process, removing all option agreements gives us a much better chance of securing a levelling up fund grant from government.
“The work already undertaken in relation to these projects means the new developers will start from a more advanced stage than would normally be the case and will therefore be in a position to start construction as soon as possible.”
The council said it hoped to have a new development partner in place before the end of the year.
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Plans to go in for 2.8m sq ft Ilkeston warehouse park
Developer Verdant Regeneration will submit plans later this Autumn to redevelop the former Stanton Ironworks near Ilkeston in Derbyshire into a vast 2.8m sq ft warehouse park.
The firm has just gone out to public consultation on its plan for the 200-acre site located near J25 of the M1 between Nottingham and Ilkeston.
As well as extensive remediation and re-use of a large, brownfield site, the plans include consolidation of the existing rail line and provision of new rail spur.
David Ward, Director of Verdant Regeneration, said: “The team has been working closely with Erewash Borough Council and a wide range of stakeholders to prepare a planning application which offers significant economic development and employment in a scheme which also retains much of the green open space and waterways within the site.”
New Stanton Park site has already been identified by Erewash Borough Council as a key regeneration site in their Core Strategy.
With a direct and operational link to the Midland Mainline railway, the site has potential to become a key distribution point for materials being imported and exported efficiently throughout the UK and beyond.
Following the end of the consultation, feedback on the initial plans will be incorporated into the planning application, submission expected later in the year.
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