£60m project is ‘the last chance saloon’ for mill
TOWN hall bosses have warned that an historic mill is in the ‘last chance saloon’ as they rubber stamped a £60m loan and land sale.
Developer Capital and Centric is due to regenerate Stockport’s Grade II-listed Weir Mill, after planners granted permission to regenerate the site – including a controversial 14-storey apartment block.
It comes after several failed attempts at saving the town centre site which has fallen into serious disrepair over recent years.
At a cabinet meeting on Tuesday, councillors signed off on lending Capital and Centric £60m to fund construction work through an investment facility the authority set up in 2019.
But while the council may have approved the scheme, it also needs to be given the go-ahead by the secretary of state – who has the power to ‘call it in’ for a judicial review.
A number of heritage groups oppose the plans as the tower would obstruct views of the town’s landmark viaduct. More than 4,000 people have signed a petition against ‘hiding’ the Grade I-listed structure.
However, leading councillors say that if the Capital and Centric scheme does not go ahead, the 18th century cotton mill could be lost forever.
Coun Sheila Bailey told the cabinet meeting that this was the final opportunity to save the site.
She said: “This is the last chance saloon for Weir Mill. It’s a building that will not recover if this development doesn’t go ahead.
“It’s in such a central part of Stockport, it’s so important to the MDC [the ‘Town Centre West’ regeneration zone]. It is an iconic building and much of it will be retained.
“I think from everybody’s point of view – including the people who will live there eventually, and the people who will use it as a social activity – it will really do nothing but help regenerate a part of Stockport that has needed regeneration for a long time.”
Her comments were echoed by Coun Tom McGee, deputy leader of the council.
He said: “It’s in such a state now that, if nothing is done with it, it will go beyond the point at which anything can be done with it.
“I’m really pleased to see that after 17 or 18 years we are going to start development.
“I only wish the previous owners had started this much sooner and we could have had this in operation with housing there”
The council also agreed to sell a parcel of land next to the mill to Capital and Centric, in order to create a ‘more holistic development.’
Making reference to this and the investment fund loan, Coun McGee said he was satisfied that ‘due diligence’ had been undertaken by the council.
“It will be another step in the regeneration of the town centre, which is going to be really important.”
Provided the secretary of state does not call in the plans, Capital and Centric would look to start work at the Weir Mill site in early 2022.