Leading Manchester developer CAPITAL&CENTRIC has completed the purchase of the iconic Weir Mill – with plans to renovate the site into 250 apartments as Stockport town centre undergoes major regeneration.
The £60m project is the first of its kind for C&C – with much of their previous work focused on Manchester city centre (including the head-turning KAMPUS and Phoenix developments).
Their debut foray into an outer region of Greater Manchester will see a frontage installed on the River Mersey, opening up public access to the waterside.
Space will also be created for ground floor commercial businesses including café-bars, delis, independent shops, as well as surrounding courtyards/green areas.
Located alongside the Stockport’s viaduct, Weir Mill includes a number of grade two-listed mill buildings, some of which were originally built in the late 1700s.
Tim Heatley, co-founder of CAPITAL&CENTRIC said: “It’s the buildings like Weir Mill that give a town its character. To save these amazing mills we have to find viable long term uses for them. By developing a new community we’ll not only be creating some incredible places to live but we’ll be opening up access to the waterside for everyone.
“Town centres are changing and it’s places like Stockport that are rising to the challenge with ambitious regeneration plans. With easy access into Manchester and a stone’s throw from the Peak District, Stockport town centre is becoming a really exciting alternative to city living. I’m a huge fan of Stockport Exchange which has really raised the bar and encouraged people like us to invest.
“Times are tough but regeneration projects will be an important part of Greater Manchester’s recovery. We’re hugely excited to be coming to Stockport and this deal shows how much confidence we have in the town.”
Stockport Council Leader Elise Wilson expressed her delight at the Weir Mill project, suggesting that interest from C&C was a reflection of Stockport’s potential.
“Attracting such a forward thinking and innovative developer as CAPITAL&CENTRIC is indicative of the continued confidence that major investors and developers are demonstrating in Stockport,” said the Councillor.
“While our efforts are currently focused on combating the impact of the coronavirus crisis, we need to keep looking to the future which is why we welcome this latest investment.
“This neglected but iconic building will be an important and key early scheme to be delivered within the new Town Centre West neighbourhood, setting the scene for our ambitious plans to regenerate and transform the wider town centre. I look forward to seeing Weir Mill brought back to life and attracting more people to live in our town centre.”
Stockport is set to receive £1bn worth of investment – with Mayoral Development Corporation aiming to deliver 3,500 new homes and 1,000,000 square feet of employment space to create 5,000 new jobs.
Sitting within the new Mayoral Development Corporation’s Town Centre West regeneration zone, the Weir Mill site will be adjacent to a brand new £120m transport interchange and backed by £7m of Housing Infrastructure Fund money from Homes England.
A planning application is expected later in the year.