Plans to redevelop Lancashire’s iconic Botany Bay and turn it into an “industrial and commercial space” have been resubmitted.
Developer and asset management company FI Real Estate Management (FIREM) has this week revealed that it plans to push forward with former proposals to transform the former shopping mill just off the M61 near Chorley.
It comes after the outlet village scheme was first scrapped at the end of 2020.
Back in January 2019, FIREM unveiled the plans for a new development on the historic site set to redefine the borough involving a 37 hectare mixed-use scheme providing 300,000 sq ft of employment land, 288 luxury new homes, and a brand new 300,000 sq ft fashion and lifestyle outlet village – but in November 2020, FIREM said these plans had been axed “due to the continued decline in the retail sector”.
This was something it says has been “further compounded by the pandemic”.
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Now, following a virtual public consultation event in November, the developer has decided to resubmit the proposal for the 21-acre site, which is said to remain “largely unchanged”.
The plans for the scheme – which has been designed by MCAU and planning consultants, John Francis Planning – propose 405,386 sq ft of industrial and commercial space, which will deliver a total of 33 individual units for employment and commercial uses.
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FI Real Estate Management (FIREM)
Within the plans, it’s said that 36,996 sqm of commercial floorspace will be designated for “light industrial uses”.
The wider space has then been allocated for landscaping, pedestrian routes, and onsite parking.
On top of all that, FIREM has also said that the regeneration plans for Botany Bay Business Park have the potential to bring hundreds of jobs to the local and surrounding areas.
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Speaking on the resubmitting of the plans this week, a spokesperson for FIREM said: “We’re confident that our proposals for the redevelopment of Botany Bay are not only consistent with the site’s heritage but will also deliver a host of new job and commercial opportunities in Chorley.
“This sector in the North West has seen continued growth for a sustained period, even throughout the pandemic.
“We’ve already witnessed a growing interest in the business space offered by these units since our last announcement, having received a number of inbound enquiries from a variety of businesses”.
Featured Image – Geograph / Ian S
Business
WeWork is closing its enormous office in Spinningfields, with tenants told to move out
Daisy Jackson
Co-working giant WeWork has announced the shock closure of its flagship space in Manchester, an enormous unit in the heart of Spinningfields.
Those who rent desks or offices within the space have been served notice to move out by the end of the month.
It’s understood that WeWork’s three remaining locations in Manchester are unaffected.
The US-based workspace company first moved into the 60,000sq ft unit at No.1 Spinningfields in 2017, offering flexible solutions to businesses of varying sizes.
But in the last few years it’s faced major financial difficulties, with WeWork eventually filing for bankruptcy in the States.
It was previously valued at $47 billion before its bankruptcy overseas.
On the closure of its huge Manchester office, a WeWork spokesperson said: “As part of WeWork’s efforts to achieve a sustainable capital structure and profitable business to serve our members for the long term, we have made the decision to stop operating at No1 Spinningfields in Manchester.
“We look forward to continuing to provide our members with flexible space solutions across our other locations in the city and the rest of the UK, which remains a key market for us.”
An email sent to tenants said: “After carefully evaluating our offerings in Manchester, we have made the decision to stop operating at WeWork No 1 Spinningfields… the move out will occur by 31 May 2024.
“We understand this may cause disruption to your business and are very sorry for any inconvenience this may cause.”
Have you been affected by WeWork’s Manchester closure? Email [email protected] who can help with central, flexible office spaces.
Business
Premier League agrees new spending cap after ‘majority of clubs’ vote in favour
Danny Jones
The Premier League has reached an agreement in principle on a new spending cap for all teams as the English top flight looks to replace the current Profitability and Sustainability Rules (PSR).
Set to be installed from the 2025/26 season onwards once fully ratified, revised spending limits will placed on teams in the first division, the number for which will be calculated in relation to a multiple of the money earned in prize money and TV rights by the lowest-earning club in the Premier League.
If approved at the AGM (annual general meeting) this June, the new model will replace the existing PSR system under which multiple clubs have broken FFP and been charged with other breaches over recent years, with Everton and Nottingham Forest having already been deducted points this season.
Although 16 of the 20 Premier League clubs reportedly agreed to the newly proposed regulations, four clubs were not in favour, with Manchester City, Man United and Aston Villa all said to have voted against the decision, while Chelsea chose to abstain.
BREAKING: Premier League clubs have agreed in principle to a form of cap on squad spending ahead of regulations being formulated, Sky News understands.
The proposed spending cap wouldn’t come into effect until the 2025/26 Premier League season.
The new max-spending model is being referred to as ‘anchoring’ or ‘tethering’, which will take into account total amounts spent on buying players, weekly wages, agents’ fees and more.
If successful following a final vote in June and brought through the season after next, the aim is to curb the increasing financial gap between the top and bottom of the table by preventing things like big sponsorships which may otherwise see clubs assert massive spending power during transfer windows.
According to the Independent, cost controls will now “limit club expenditure on salaries, signing and fees to 85 per cent of total revenue” for those not competing in European competitions.
This comes after Premier League teams previously the latest UEFA rules that will see those playing in the likes of the Champions, Europa and Conference League only allowed to spend 70% of that revenue, given the added financial uplift from qualifying for these tournaments.
While 16 yeas were enough to see the initial vote move forward, it will only require 14 out of 20 clubs to agree to the rule change in June for the motion to be fully passed.
A Professional Footballers’ Association (PFA) spokesperson said: “We will obviously wait to see further details of these specific proposals, but we have always been clear that we would oppose any measure that would place a ‘hard’ cap on player wages.
“There is an established process in place to ensure that proposals like this, which would directly impact our members, have to be properly consulted on.”