Town’s iconic landmark is put up for sale
JOBS TO GO AS CO-0P BANK IS LEAVING THE PYRAMID
STOCKPORT’S iconic pyramid is up for sale after the Co-op Bank announced it will move out of the landmark building, taking 409 jobs out of the town.
Once staff have been relocated to the company’s Manchester head office, bosses will sell the building.
The move has been described as a ‘major blow’ for Stockport’s town centre.
STOCKPORT’S iconic pyramid is up for sale. The Co-op Bank has announced it will move out of the landmark building, taking 409 jobs out of the town.
Once staff have been relocated to the company’s Manchester head office, bosses will sell the building.
The move has been described as a ‘major blow’ for Stockport town centre.
The Pyramid, which is primarily a contact centre and also deals with some mortgage sales, should be empty by autumn next year.
A Co-op spokesman confirmed the decision had been taken to ‘simplify the business and reduce costs’.
Stockport’s Liberal Democrat leader Coun Mark Hunter said: “It is a unique landmark building and yet another major blow to the town centre, which is reeling from retailers pulling out.
“The worry is the current [Labour] administration doesn’t have a response or plan, it just lets things happen.
“It needs bigger thinking regarding the future of the town centre.”
But the Co-op Bank and Stockport council have both confirmed they will speak over the future use of the building, located on Hollywood Way next to junction one of the M60.
One option that has not been ruled out is the council itself buying it.
Coun Kate Butler, executive member for the economy, said: “I wouldn’t say it is off the table, it is just a question of what we can do with it, it is early days. It is disappointing but not unexpected, they have their new complex in the city centre and it makes sense for everything to be in the same place.
“We don’t know what the impact will be, but we have a full plan of regeneration in the town centre and it is a massive ambitious plan.”
Among the newest parts of this overall plan is to redevelop six sites on the west of the town centre - including Weir Mill and Chestergate - into residential areas.
Coun Syd Lloyd says proximity to the M60 and the airport as well as train links to Manchester and London means Stockport is ‘wonderfully positioned, but needs selling better’.
The Conservative group leader in Stockport, said: “It is really devastating news, we have lost Marks and Spencer and others. We have to assess what we do as a town moving forward.
“Any loss of jobs is a blow because we need people who live and work and shop here. Stockport is a great place with a lot of good things happening but we need to get that message out.”
The Co-op Bank will move out of the Pyramid to its base at Balloon Street, Manchester city centre, in phases.
A spokesman said: “To simplify the business and reduce costs, a decision to relocate Stockport-based colleagues to our Manchester head office has been made.
“We will work closely with representatives from the council to ensure a smooth sale of the Pyramid building when the site is fully vacated.”