£1bn scheme for boost to town centre

HOTEL, OFFICES AND CAR PARK IN GROWTH MASTERPLAN

A NEW hotel, office block and multi-storey car park could be built as part of a £1bn plan to breathe new life into a town centre.

Council bosses in Bolton have unveiled a ‘masterplan’ to transform the heart of the town.

The ambitious proposals include the redevelopment of a number of key sites, both council-owned and private land

The council said it would fund the project to the tune of £100m, with the value rising to £1bn as private sector partners come on board. Big-name shops and stores will play a key part.

The plan aims to increase the town centre’s profile as a shopping destination, with a ‘stronger retail core.’ Town centre housing could be introduced on empty and brownfield sites and the council said there was a ‘strong demand’ for new office space in the face of a regional shortage. The Church Wharf area – behind Bolton Parish Church – and Trinity Street have been singled out, with the blueprint featuring a new hotel, office block and a car park on Trinity Street. Council leader Cliff Morris said details were being finalised and would be made public. He said the council would borrow £100m over 50 years at a low interest rate, which would be paid back using the Manchester Airport dividend and a dividend from the Yorkshire Purchasing Company, which it receives annually. Coun Cliff Morris

Coun Morris revealed talks with developers and investors were continuing and said the plan would tie in with the opening of Bolton’s new £48m transport interchange on land bounded by Newport Street and Great Moor Street.

“The masterplan is intended to facilitate the redevelopment and growth of our town. We know that town centres have changed due to factors such as the shift to online shopping and this masterplan will reflect that,” he said.

“It is very important to us that we are able to fund this robustly and be confident that the money we need will not have to be sourced as a result of cuts – we are very pleased that this will be the case. We are speaking to a number of developers about different schemes and this is a complex process which can take a lot of time.

“We are, however, committed to regenerating Bolton town centre and as soon as possible. With the new transport interchange and the investment in electrification, living here if you work in Manchester would be a good proposition.”