Crompton Place is a shopping centre close to the town’s civic and retail core. Although popular, it offers an abundance of opportunities to re-energise spaces and improve linkages both within the centre and to surrounding areas.
It’s a vital part of the retail offer and a place with untapped potential that’s waiting to be re-integrated into the heart of Bolton.
Bolton Council has confirmed in principle over £250m of private sector investment funding to replace the Crompton Place Shopping Centre on Victoria Square with a new state-of-the-art retail and leisure destination as the first phase of Bolton’s ambitious £1bn town centre regeneration masterplan.
The project represents a major new component of the Northern Powerhouse initiative.
Working in partnership with the Department for International Trade (DIT) and Greater Manchester Combined Authority (GMCA), the council has secured the involvement of Bolton Regeneration Limited (BRL), a private consortium led by investment and development specialist, Midia.
Improve connectivity – A link between two key sites to the north of the site will promote greater footfall and ease of access
Reconfigure existing buildings to make the most of assets – For example, by locating restaurants in upper floors and changing façades, it could have a transformative effect allowing visitors to overlook the many events taking place at Victoria Square (Bolton’s principal public square).
Open the door to a wider range of uses – large vacant units could be utilised for workshops, teaching spaces and leisure uses.
The redevelopment of Crompton Place will create exciting public realm spaces, with both enhanced retail and leisure offers, as well as new linkages to the surrounding area. Restaurant and food establishments will ensure the site is able to capitalise on the town centre strategy.
‘The council has been very proactive in getting to a position where they can deliver – as shown by the fact that they are investing £100m in the town centre. There’s a proper plan in place and they listen to you. That’s why we like working with them.’
Tim Vaughan, Moorgarth Group,
owner of Market Place Shopping Centre
Bolton Council has bought the Crompton Place shopping centre for £14.8m to help accelerate its £1bn town centre regeneration masterplan.
Cabinet gave approval for the purchase on the May 14 and the council finalised the transaction following the satisfactory completion of extensive ‘due diligence’ checks.
Property management company JLL will continue to run the centre, which contains 46 retail units; kiosks; office accommodation, and a 285-space car park covering more than 280,000 sq ft.
The purchase has been funded from the council’s £100m town centre fund. The fund is financed through a low interest loan which is repaid using dividends from Manchester Airport and the Yorkshire Purchasing Company. The shopping centre is central to the authority’s Town Centre Masterplan. Trinity Quarter, Cheadle Square, Church Wharf and Croal Valley are four other key sites in the plan and the council is currently working hard to bring forward ambitious development proposals for these sites. Over the coming months, detailed ideas for regenerating the centre will be developed and in the long term council chiefs envisage building a completely new centre. The regeneration of Crompton Place will form part of the council’s wider, longer-term plans to improve the town centre for the benefit of everyone in the borough, including surrounding districts.